With operations worldwide, FGV produces oil palm and rubber products, oleochemicals and sugar products, with materials sourced from FELDA colonies throughout the country.[2]
Background
Its initial public offering in 2012 was the third largest in the world that year after Facebook and biggest IPO in Asia which raised US$3.1 billion.[3][4]
It is the third largest palm oil company in the world by planted acreage.[3] FGV manages a total land bank of 439,230 hectares in Malaysia and Indonesia including land under Land Lease Agreement (LLA) with Felda. The company produces approximately 3 million metric tonnes of crude palm oil annually.
On July 3, 2018, the company dropped the phrase "Felda Global Ventures" from their corporate name and renamed as FGV Holdings Berhad.[6][7]
US sanctions
On 1 October 2020, the company's products were banned by U.S. Customs and Border Protection, citing forced labour and human rights abuses, including "physical and sexual abuse, debt bondage and abusive conditions."[8]
Notes
^The company also known as Felda Global on their official website.