IOI Group
IOI Group is a Malaysian multinational company that specializes in palm oil production, property development, and investment. The company was founded in 1969 and has since grown to become one of the largest palm oil companies in the world.
History
IOI Group was founded by Tan Sri Dato' Lee Shin Cheng, a prominent Malaysian businessman. The company started as a small oil palm estate and has since grown into a multinational corporation with operations in more than 15 countries.
Operations
IOI Group's operations are divided into three main sectors: palm oil production, property development, and investment. The company's palm oil production is primarily based in Malaysia and Indonesia, while its property development and investment operations are spread across several countries, including Singapore, China, and the United States.
Palm Oil Production
IOI Group is one of the world's largest producers of palm oil. The company owns and operates numerous palm oil plantations and mills in Malaysia and Indonesia. IOI Group's palm oil production is guided by its commitment to sustainable agriculture and environmental conservation.
Property Development
IOI Group's property development division, IOI Properties, is one of the leading property developers in Malaysia. The company develops residential, commercial, and industrial properties. IOI Properties also operates several hotels and resorts.
Investment
IOI Group's investment division is involved in a variety of sectors, including real estate, hospitality, and healthcare. The company's investment strategy is focused on long-term growth and sustainability.
Controversies
IOI Group has faced several controversies related to its palm oil production. The company has been accused of deforestation and violating the rights of local communities in its palm oil plantations. IOI Group has taken steps to address these issues, including implementing stricter environmental policies and working with local communities to improve their living conditions.
See Also
IOI Group
IOI City Mall
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Contributors: Prab R. Tumpati, MD
