FGV HOLDINGS BERHAD | ANNUAL INTEGRATED REPORT 2023 29 BUSINESS STRATEGY FGV is advancing its ambition to deliver sustainable foods and agriproducts to the world with the introduction of Business Plan 2024-2026 (BP26), a progression of its previous Business Plan 2023-2025 (BP25). BP26 builds upon BP25’s foundation by leveraging existing strengths and addressing any gaps to ensure continued growth and competitiveness. This dynamic strategy includes yearly adjustments to stay responsive to market changes and emerging opportunities, reinforcing FGV’s commitment to innovation and global expansion in the agribusiness sector. BUSINESS PLAN 2024-2026 Building on the momentum of BP25, we are transitioning towards BP26 to align with the changing market, operational, and regulatory environment. The fine-tuned strategies under BP26 are integral for reinforcing the strategic approach undertaken under BP25, and crucial for navigating roadblocks faced by the respective Business Divisions. In BP26, we will outline specific steps to address these hurdles through identified initiatives that will continue to drive FGV towards sustainable growth and operational excellence. Our business activities are structured around five primary Divisions: Plantation, Oils and Fats, Sugar, Logistics & Support, and Consumer Products, and Integrated Farming. Each division plays a crucial role in achieving our strategic objectives. The performance outcomes of each division in 2023 are extensively outlined in the Group Business Review section of this Report, facilitating a comprehensive understanding of their contributions and achievements toward realising our vision. More information on how the business navigating its challenges can be found in Group Business Review on pages 49 to 77. VISION Delivering Sustainable Foods and Agriproducts to the World WIDE-RANGING PRODUCTS & HIGH VALUE-ADD BUSINESS ACTIVITIES Agribusiness Oils and Fats Foods Green Energy INFRASTRUCTURE FOR MARKET ACCESS Total Logistics Solutions Logistics & Transportation Warehouse & Services Operational Improvement Product & Market Penetration New Growth Areas Financial & Capability Building STRATEGIC THRUSTS KEY ENABLERS Human Capital Financial Sustainability Producing Sustainable Palm Products, Rubber, and Cash Crops, including R&D Manufacturing and Trading of Oils and Fats Products FMCG, Food Security, and Food Technology Bio-Feedstock, Power Generation, and Biotechnology
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