Business Review: Plantation Division BUSINESS ENVIRONMENT The R&D landscape is evolving rapidly, shaped by market dynamics, economic conditions, and regulatory developments. In 2024, stabilised fertiliser prices provided a more favourable operating environment, leading to increased sales volume and stronger market demand. However, global supply chain shifts and raw material fluctuations continue to influence production costs, requiring ongoing optimisation in formulation and efficiency. Technological advancements in biotechnology, precision agriculture, and AI-driven analytics are transforming research methodologies, enabling more efficient breeding, crop management, and product innovation. These innovations open new opportunities to improve productivity and develop high-value downstream products tailored to market needs. At the same time, growing emphasis on sustainability and stricter environmental regulations are driving demand for solutions that enhance efficiency while minimising environmental impact. As the industry moves towards more customised and high-performance agricultural inputs, the segment remains focused on leveraging emerging technologies, strengthening industry collaborations, and delivering market-driven solutions to reinforce our leadership in agricultural innovation. Focusing on modernising estate operations and reducing reliance on migrant labour by expanding IoT technologies and precision agriculture. Achieved 100% implementation of IoT tracking system, Estate Area Remote Sensing (EARS) across 21 estates to monitor harvesting, manuring, and other estate activities. Launching a new version of FGV Geotagger to meet the growing need for precision agriculture tools, improving data accuracy for land management, and decision-making. Deployed 15 units of FGV Geotagger across FGV estates to improve field operations. Developing eco-friendly bioplastics materials from palm oil supply chain by-products, aimed at replacing conventional petroleum-based plastics in agriculture and the food industry. Completed a lab-scale for Polyhydroxyalkanoate (PHA) extraction and purification using an identified strain to ferment sludge oil into PHA resin, using future plans to upscale and accumulate bio-resin for further application. Introducing DNA profiling with Simple Sequence Repeats (SSR) markers for MD2 pineapple to ensure superior genetic inheritance, enhancing the quality and yield of planting materials. Assessed 18 pineapple suckers to confirm their legitimacy as the MD2 pineapple variety for Anamanis clonal production, ensuring genetic consistency with the mother plant. Introducing new palm-based food products, including Enriched Spread, Analogue Cheese, Frying Oil & Shortening, and Yoghurt Drink. Completed the product’s regulatory and compliance process, with the next step being proof of concept, including laboratory-scale applications and pilot trials. KEY INITIATIVES ACHIEVEMENTS BUSINESS PERFORMANCE REVIEW 2024 HIGHLIGHTS Received the Most Active Participant Award under the Plant Material Certification Scheme (SPBT) for Fruit Commodity Category, presented by the Malaysian Department of Agriculture. Recognised by the Malaysia Book of Records for the most DXP Oil Palm Germinated Seeds produced in Malaysia, with approximately 600 million seeds produced from 1976 until 2022. Launched Yangambi Platinum, a new high-yielding clonal planting material. 86 FGV Holdings Berhad | Annual Integrated Report 2024 RESEARCH & DEVELOPMENT
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