Malaysia's Felda Global aims to increase land bank, palm oil output

Photo: Reuters

Malaysia’s Felda Global Ventures Holdings Bhd (FGV), the world’s third biggest palm plantation operator, said on Friday it aims to increase its land bank this year and reduce the age profile of trees to improve output over the next three years.

FGV is looking at land acquisitions in Malaysia, Indonesia and African countries, said Chief Executive Zakaria Arshad, adding that the plan was at a preliminary stage and the company was yet to conduct due diligence on the prospective purchases.

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