FGV Holdings Bhd’s (FGV) subsidiary, FGV Refineries Sdn Bhd, said it expects to increase the group’s average sales by 9 percent with the launch of the FRACT 750 Refinery at Kuantan Port.
Group director of logistics and support division Fakhrunniam Othman said the factory can help the FGV group diversify the types of palm oil products produced. Adding that the effort also enables FGV to reduce its dependence on crude palm oil (CPO), which is exposed to the volatility of world market prices.
According to the MD, the refinery is the first on the East Coast to use technology based on the “Desmet iConFract System” which enables FGV to produce new downstream industry premium products based on palm oil, such as High IV Olein and Hard Stearin.
“In addition, the Desmet iConFract System technology used by this factory also contributes to lower production costs and higher profit margins, thus enabling FGV products to be sold at more competitive prices,” he said at the opening ceremony of the FRACT 750 factory, which was officiated by Pahang Investment, Industry, Science, Technology and Innovation Committee chairman Datuk Mohamad Nizar Mohd Najib here today.
Fakhrunniam said that in addition to oils and fats products, FGV is fully committed to supporting the country’s food security agenda by providing high quality products at reasonable prices through various brands, including Saji, Seri Pelangi and Gula Prai.
The aim he said was to bring sustainable food products to the world has now been further strengthened with the launch of the FRACT 750 factory, thus increasing FGV’s competitiveness in local and international markets by opening up new business opportunities in Asia, Middle East and West Africa.
