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IOI Corp Bhd, a company whose growth has been anchored by palm oil for 45 years, is embarking on a strategic shift to diversify its revenue streams. Chief Executive Officer Datuk Lee Yeow Chor revealed in a rare media interview that the group aims to ensure its future does not depend on a single commodity.
The group is putting its land, plantation waste, and downstream expertise to work in new ventures spanning solar energy, biomass, coconut cultivation, and the production of higher-value ingredients. This multi-sector expansion is designed to leverage the company's existing assets and secure long-term competitiveness.
By exploring these alternative sectors, IOI Corp seeks to mitigate the risks associated with commodity price volatility while tapping into the growing demand for renewable energy and sustainable agricultural products.
Source: The Star