Kuala Lumpur, 17 September 2025 — FGV Holdings Berhad has moved swiftly to reassure investors and partners that its long-standing joint venture (JV) with the UAE-based IFFCO Group remains stable and unaffected by IFFCO’s ongoing corporate exercise. In a statement issued on Wednesday, FGV emphasised that the enterprise — known collectively as FGV IFFCO Group — continues to operate under strong fundamentals and governance, delivering value despite broader corporate shifts.
FGV IFFCO Group comprises three entities: FGV IFFCO Sdn Bhd, FGV IFFCO Trading Sdn Bhd, and FGV IFFCO France SA. These companies are involved in the marketing and sale of vegetable oil products, including cooking oils, fats, and other derivatives, as well as providing logistics and distribution services. According to FGV, these operations follow market-driven commercial terms, and the JV has minimal exposure to IFFCO Group’s current corporate reorganisation efforts.
FGV’s group CEO, Fakhrunniam Othman, underscored the joint venture’s resilience: “Our JV companies remain resilient and unaffected by this exercise. Supported by strong fundamentals and sound governance, they continue to deliver value to stakeholders and maintain the confidence of the market.” He reaffirmed FGV’s commitment as a shareholder to ensure that the JV is managed professionally and responsibly.
Financially, FGV highlighted that to date in 2025, the FGV IFFCO Group has reported a profit of RM49 million, a sign that the business continues to perform steadily despite macroeconomic pressures. FGV also pointed out its own healthy credit profile, including an AA- rating, indicating its ability to weather shocks and maintain operational stability.
The assurance comes amid IFFCO Group’s own corporate exercise — possibly involving restructuring or strategic shifts — which had raised questions among some investors about whether its JVs worldwide might be impacted. FGV’s clear communication serves to distance the local JV from any potential uncertainty, emphasising that governance structures, board representation, and management are in place to safeguard interests in the Malaysian and European operations of the JV.
In summary, while IFFCO navigates its internal corporate agenda, FGV’s joint venture with IFFCO remains solid. With a track record of stable profits, market-aligned operations, and robust oversight, the JV is portrayed as a counterpoint to any market speculation, reassuring stakeholders that value creation continues unabated.
