FGV Chairman and GCEO engaging with Malaysia’s Minister of Plantation and Commodities during their visit to Pakistan. on 30 June 2024 to the United States Customs and Border Protection (U.S CBP) to modify the Withhold Release Order (WRO). In response, the company invested RM455.1 million in strengthening labour practices, enhancing infrastructure, and reinforcing grievance mechanisms in line with global standards. These efforts reinforce financial sustainability, investor confidence, and long-term regulatory compliance. STRATEGIC PROGRESS: BP26 FGV’s success in 2024 was anchored in the strategic execution of its BP26, a comprehensive framework designed to navigate an increasingly dynamic and disruptive market. This strategy focuses on short, medium, and long-term objectives, enabling the company to respond proactively to market changes while ensuring agility, adaptability, and sustainable growth. Central to BP26 are its four strategic thrusts; Operational Improvement, Product & Market Penetration, New Growth Areas, and Financial & Capability Building. These thrusts provide a robust foundation for aligning operational priorities with the broader goal of delivering long-term stakeholder value. BP26 ensures effective execution through a dual approach that balances strategic ambitions with operational excellence. The 35 identified Key Initiatives comprise Key Strategic Initiatives (KSIs), which focus on driving growth through high-level strategies and long-term planning and Key Operational Initiatives (KOIs), which aim to enhance daily efficiencies. These initiatives are designed to drive group-wide profitability and deliver measurable results. By aligning immediate operational priorities with future-focused objectives, BP26 positions us for sustained growth and market leadership. 29 INSIGHTS FROM OUR LEADERS Sec 03 Performance and Resilience Building Stronger unharvested bunch elimination, crop security, and better accessibility. With FFB processed reaching 14.13 million MT, CPO production also grew by 11% during the year. The Sugar Division also saw notable progress, with improved performance driven by a 6% increase in average selling prices, an 8% rise in sales volume, an 11% reduction in refining costs, and better capacity utilisation. This growth highlights the division’s continued emphasis on streamlining operations and optimising margins. Beyond business performance, FGV made significant strides in sustainability and governance, including submitting a petition As part of its long-term strategy under the Business Plan 2024-2026 (BP26), FGV has prioritised operational excellence, capital efficiency, and renewable energy to foster sustainable growth. Return on Capital Employed (ROCE) rose to 5.5% in 2024 from 3.7% in 2023, reflecting more effective resource allocation and a disciplined approach to investment. With a target of achieving double-digit ROCE within three years, the company remains focused on optimising cost structures, managing profitability fluctuations, and supporting smallholders while channelling investments into high-margin growth areas. FFB yield per Ha increased by 15% supported by enhanced harvesting practices, including loose fruit collection,
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