FGV AIMS TO MAINTAIN CHINA MARKET SHARE
Group aims to maintain market share despite increasingly competitive environment
FGV Holdings Bhd (FGV) aims to maintain its market share in China despite the increasingly competitive market environment there.
President and group chief executive officer Datuk Zakaria Arshad said FGV, which is the world’s third largest palm oil exporter, has a market share of between 20 per cent and 30 per cent in China.
“There is a slight decline (in the group’s market share) as prices are very competitive in China. However, we are still working to maintain our market share in the country,” he said at FGV’s Hari Raya open house here yesterday.
Zakaria is optimistic that Prime Minister Tun Dr Mahathir Mohamad’s official visit to China next month would benefit the palm oil sector and enhance FGV’s businesses in China.
“FGV has a very good relationship with China. So, the prime minister’s visit to the country will provide a good avenue for the company as well.
“We also hope that bilateral ties between Malaysia and China can be further enhanced, especially in the oil palm business,” he said.
Zakaria added that the group had yet to identify the impact of the trade war between the United States and China.
He said FGV was currently reviewing its investment portfolio, in an effort to enhance its future operational capacity.
“We are identifying some of the problems we face, which covers many aspects (of our business). There are several initiatives already underway.
“All segments will be reviewed and will be considered. If it (FGV’s current investment portfolio) is problematic and cannot be restored, we have to end it,” he added.
Zakaria dismissed rumours of a management reshuffle ate FGV.
“It is business as usual for us. It is just that the way we work now has changed. We are more aggressive and focused on businesses in all sectors, including downstream and upstream.”
Starting from July 5, FGV has officially changed its name from Felda Global Ventures Holdings Bhd to FGV Holdings Bhd.