KUALA LUMPUR (Dec 24): IOI Corp Bhd said the group is now 100% Malaysian Sustainable Palm Oil (MSPO)-certified across its 84 estates and 14 mills in the country after the group's final estate obtained its certification on Nov 28.
In a statement yesterday, IOI Corp said the significant achievement is in line with its commitment to ensure that all its plantations are MSPO-certified and that the group's sustainability standards are implemented throughout its operations.
"IOI Corp had started its journey in implementing the MSPO certification standards since MSPO’s formation as a national certification scheme in Malaysia for oil palm plantations, independent and organised smallholdings, and palm oil processing facilities by the Malaysian Government. IOI Corp has been actively involved in the development of the scheme and has participated in the National and Technical Working Committee, which led to the establishment of the Malaysian Standards for MSPO in 2013.
"IOI Corp is also actively involved in MSPO’s standard improvement process and has been participating in the standards review working group, which started in September 2019, and is scheduled to be completed by 2020," IOI Corp said.
At Bursa Malaysia's 12:30pm afternoon break today, FBM KLCI component stock IOI Corp's share price settled down six sen or 1.3% at RM4.54 for a market capitalisation of RM28.41 billion.
IOI Corp's share price had fallen 2.02% year to date, outperforming the KLCI's 4.9% drop.