• Expanding bulking and storage capacity to meet growing demand. • Completed 13 new tanks with a total capacity of 24,900 MT for renewable feedstocks at Tanjung Langsat Port. • Initiated expansion at Terminal 4, Pasir Gudang, to add 31,000 MT of storage for crude vegetable oils, supporting high-value products such as oleochemicals and renewable energy feedstock. The project is 80% complete and is targeted for completion in 3Q 2025. • Increased throughput handled by 2% to 7.64 million MT, in line with national CPO production growth and higher handling of premium products, including oleochemicals and acid oils. • Venturing into biomass feedstock activities to align with current market trends. • Delivered more than 100 MT of PKS for equipment testing to produce carbonised PKS. KEY INITIATIVES ACHIEVEMENTS BUSINESS PERFORMANCE REVIEW BUSINESS ENVIRONMENT In 2024, the Bulking and Storage business operated in a dynamic environment shaped by shifting market demands and regulatory changes. With a stronger focus on secure and efficient logistics, we enhanced operational reliability through modern facilities, strict quality control, and integrated storage solutions. Market volatility from fluctuating import policies in India and China affected demand for palm oil and other vegetable oils, while Indonesia’s export restrictions and higher biodiesel mandates reduced inbound shipments, impacting storage volumes. Geopolitical unrest, conflicts, and vessel hijackings further disrupted trade flows. Despite these challenges, we expanded storage capacity, diversified our customer base, and enhanced service offerings. Our fully computerised system, robust security measures, and integrated storage facilities improved throughput handling efficiency. As global trends drive resource efficiency and sustainability, we explored biomass opportunities, including PKS exports, supporting the shift to renewable energy and sustainable feedstock. These initiatives reinforce long-term resilience and position us for continued growth in an evolving market. 2024 HIGHLIGHTS Secured 1st runner-up in the Lean Six Sigma Category at the Innovation & Lean Six Sigma Convention 2024. Attained 91% in the customer satisfaction survey, the highest score recorded from 2003 to 2024. Achieved a 10% reduction in foam pig usage. Achieved a 13% reduction in Reverse Osmosis (RO) water usage for boiler operations. Received GGL Certification. Received the Gold Class Award for the logistics and transportation sectors by MSOSH. Maintained higher boiler efficiency and recorded 10% reduction in fuel consumption across all terminals. Recorded the highest premium products handled at 1.84 million MT in 2024, the highest achievement since 2010. 105 Sec 05 DRIVING VALUE THROUGH BUSINESS GROWTH (BUSINESS REVIEW)
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