10 Largest Palm Oil Companies from Malaysia

10 Largest Palm Oil Companies from Malaysia- Malaysia still become one of the world’s largest country producers of Palm Oil in 2023. According to the report of FAO Statistical Corporate Database (FAOSTAT) in 2022, the production of oil palm fruits from Malaysia reached 92 million tons. With this output, Malaysia still becomes the 2^nd world’s largest country producer of Oil Palm Fruits in 2022. Proportionally, this output of fruits was just behind Indonesia with total production reaching 256 million tons.

In the palm oil industries, basically there are some largest companies in Malaysia which have enormous contributions to palm oil industries. Here is the rank of 10 Largest Palm Oil Companies from Malaysia. All the data were obtained from the Annual Report of the company in 2023.

 

The Rank of 10 Largest Palm Oil Companies from Malaysia Based on Total Assets in 2023

Rank	Palm Oil Companies from Malaysia	Total Assets	Total Assets	Total Liabilities	Total Liabilities
		Ringgit Malaysia (MYR)	US Dollar (USD)	Ringgit Malaysia (MYR)	US Dollar (USD)
1	Sime Darby Guthrie	31.8 billion	7.314 billion	11.4 billion	2.622 billion
2	Kuala Lumpur Kepong Berhad	30.1 billion	6.923 billion	13.9 billion	3.197 billion
3	IOI Corporation Berhad	17.9 billion	4.117 billion	5.9 billion	1.357 billion
4	FGV	17.2 billion	3.956 billion	9.7 billion	2.231 billion
5	Genting Plantations Berhad	8.5 billion	1.955 billion	3.1 billion	0.713 billion
6	Sarawak Oil Palm Berhad	5.2 billion	1.196 billion	1.5 billion	0.345 billion
7	Boustead Plantation Berhad	4 billion	0.92 billion	1.2 billion	0.276 billion
8	United Plantation Berhad	2.1 billion	0.483 billion	0.3 billion	0.069 billion
9	Far East Holding Berhad	1.7 billion	0.391 billion	0.27 billion	0.0621 billion
10	Kim Loong Resources Berhad	1.2 billion	0.276 billion	0.27 billion	0.0621 billion
Source: Annual Report, 2023
Currency Rate: 1 Malaysian Ringgit (MYR) = 0.23 US Dollar (USD)

 

 

The rak above was arranged based on total assets of company in 2023. All the data were obtained from the Balance Sheet, Annual Report of Palm Oil Companies in 2023. Furthermore, we also show the rank of Malaysia's palm oil companies based on net income. Here is the rank of the company based on net income in 2023. The Data revenue and net income were obtained from Income Statement of Annual Report in 2023.

The Rank of 10 Largest Palm Oil Companies from Malaysia Based on Net Income in 2023

 

Rank	Palm Oil Companies from Malaysia	Revenue	Revenue	Net Income	Net Income
		Ringgit Malaysia (MYR)	US Dollar (USD)	Ringgit Malaysia (MYR)	US Dollar (USD)
1	Sime Darby Guthrie	18.4 billion	4.23 billion	1.8 billion	0.41 billion
2	IOI Corporation Berhad	9.6 billion	2.20 billion	1.1 billion	0.25 billion
3	Kuala Lumpur Kepong Berhad	23.6 billion	5.42 billion	0.99 billion	0.22 billion
4	United Plantation Berhad	2 billion	0.46 billion	0.711 billion	0.16 billion
5	Genting Plantations Berhad	2.9 billion	0.66 billion	0.26 billion	0.05 billion
6	Sarawak Oil Palm Berhad	5.1 billion	1.17 billion	0.42 billion	0.09 billion
7	Kim Loong Resources Berhad	1.5 billion	0.34 billion	0.177 billion	0.04 billion
8	Far East Holding Berhad	0.542 billion	0.12 billion	0.105 billion	0.02 billion
9	FGV Holdings Berhad	0.348 billion	0.08 billion	0.099 billion	0.02 billion
10	Boustead Plantation Berhad	0.851 billion	0.19 billion	0.035 billion	0.008 billion
Source: Annual Report, 2023
Currency Rate: 1 Malaysian Ringgit (MYR) = 0.23 US Dollar (USD)

 

 

Brief Description of The Rank of 10 Largest Palm Oil Companies from Malaysia 

 

 

1. Sime Darby Guthrie

 

Sime Darby Guthrie will become the largest palm oil company from Malaysia based on planted area and net income in 2023. Officially, this company is headquartered in Petaling Jaya, Malaysia. Until 2023, the total oil palm land area of Sime Darby reached 568 thousand hectares. Of the total land area, there are 295 thousand hectares of oil palm in Malaysia, 182 thousand hectares in Indonesia and the rest in other countries.  Furthermore, Sime Darby has also processed plants and facilities of 68 palm oil mills, 11 kernel crushing plants, and 5 R&D centers.  In 2023, based on data from its annual report, the total revenue earned by Sime Darby reached MYR 18.4 billion or equivalent with USD 4.23 billion and managed to achieve a net profit of MYR 1.8 billion or equivalent with USD 0.41 billion.

 

 

 

2. IOI Corporation Berhad

 

Industrial Oxygen Incorporated Sdn Bhd or commonly known as IOI berhad is one of the palm oil leader companies from Malaysia. Based on its history, the company was founded by Lee Shin Chen in 1969 and still headquartered in Putrajaya, Malaysia. Based on its area, this company has an oil palm plantation area of 176 thousand hectares. Furthermore, based on data from the company's Annual Report, IOI Corporation Berhad managed to get revenue of MYR 9.6 billion or equivalent with USD 2.20 billion with a net profit of MYR 1.1 billion or equivalent with 0.25 billion.

 

3. Kuala Lumpur Kepong Berhad

 

Kuala Lumpur Kepong Berhad is one of the major palm oil companies from Malaysia which has its headquarters in Perak, Malaysia. Operationally, the total oil palm plantation area of Kuala Lumpur Kepong Berhad reaches 287 thousand hectares. Apart from Malaysia, Kuala Lumpur Kepong Berhad also has oil palm plantations in Kalimantan and Sumatra in Indonesia. In 2023, financially, the total revenue achieved by Kuala Lumpur Kepong Berhad reached MYR 23.6 billion or equivalent with USD 5.42 billion with a net profit of MYR 0.99 billion or equivalent with USD 0.22 billion.

 

4. Genting Plantation

Genting Plantation was established in 1977 and still has its headquarters in Kuala Lumpur, Malaysia. The founder of the company is Sri Lim Goh Tong. Until 2023, the total oil palm plantations of Genting Plantation reached 243,300 hectares. Most of the oil palm plantations are located in Malaysia. In addition, Genting Plantation also has oil palm plantations in Indonesia. Financially, in 2023, the total revenue earned by Genting Plantation reached MYR 2.9 billion or equivalent with USD 0.66 billion while the net profit achieved reached MYR 0.26 billion or equivalent with USD 0.05 billion.

 

5. United Plantation Berhad.

United Plantation Berhad was began with the initiative of Mr. Aage Westenholz, a Danish entrepreneur, in doing agribusiness since 1885. To date, United Plantation Berhad manages a total oil palm plantation area of 62,500 hectares (ha). Compositionally, the oil palm plantation area is located in Malaysia (83%) and Indonesia (17%). Financially in 2023, United Plantation managed to obtain revenue of up to MYR 2 billion/ USD 0.46 billion with a total net income of MYR 0.711 billion/ USD 0.16 billion.

 

6. FGV

 

FGV Holding Berhad is one of Malaysia's largest plantation companies which was established in 1997. Operationally, FGV has its head office in Kuala Lumpur, Malaysia and has a total of 333 thousand hectares of oil palm plantations. Financially, in 2023, The FGV Holding Berhad successfully gained revenue of MYR 0.348 billion or equivalent with USD 0.08 billion with Net Income of MYR 0.099 billion or equivalent with USD 0.02 billion.

   

7. Sarawak Oil Palm Berhad

 

Historically, the incorporation of Sarawak Palm Berhad occurred in 1968. To date, Shin Yang Plantations Sdn. Bhd. (SY Group) together with Pelita Holdings Sdn. Bhd., an investment company of the Sarawak State Government, remain as the two majority shareholders of Sarawak Oil Palm Berhad with shareholding percentage of approximately 35% and 28%, respectively. Overall, in 2023, Total Planted Area of Oil Palm reached 82,309 hectares (ha) with total production of crude palm oil reaching 390,543 tons. Financially, in 2023, the Sarawak Oil Palm Berhad successfully gained revenue of MYR 5.1 billion or equivalent with USD 1.17 billion and Net Income with MYR 0.42 billion or equivalent with USD 0.09 billion.

 

8. Boustead Plantation Berhad

Boustead Plantation Berhad is a subsidiary of Lembaga Tabung Angkatan Tentera (LTAT) which is The Armed Forces Fund Board is a statutory body which manages the pension fund for certain members of the Malaysian Armed Forces. Operationally, as of 2023, total planted oil palm reached 72,200 hectares (Ha) which is spread across 23,400 ha in Peninsular Malaysia, 38,500 ha in Sabah, and 10,300 ha in Sarawak. Financially, in 2023, Boustead Plantation Berhad has successfully gained revenue of MYR 0.851 billion or equivalent with USD 0.19 billion. Furthermore, the Net Income of the company reached MYR 0.035 billion or equivalent USD 0.008 billion.

 

9. Kim Loong Resources Berhad

Kim Loong Resources Berhad is an Oil Palm Plantation and Milling company which is headquartered in Johor Bahru, Johor. As of business development, Kim Loong Resources Berhad managed of Total planted area of oil palm reaching 16,263 hectares (ha) with total production of Fresh fruit bunches achieved 329,597 tons. Specifically, of all total planted areas, approximately 75% are in mature palm conditions with palm's age above 6 years old, 20% are young mature conditions below 6 years old, and the remaining 5% are at an immature stage. Furthermore, the plantations are located across the states of Johor, Sabah, and Sarawak.

 

Financially, in 2023, Kim Loong Resources Berhad successfully gained revenue of MYR 1.5 billion or equivalent with USD 0.34 billion. Furthermore, Kim Loong Resources gained net income of MYR 0.177 billion or equivalent with USD 0.04 billion.

 

10. Far East Holding Berhad

 

Far East Holdings Berhad (FEHB) was incorporated in Malaysia on 6th August 1973. To Date, the Far East Holding Berhad was owned by several institutions, namely Perbadanan Kemajuan Pertanian Negeri Pahang (PKPP) (25.18%), Prosper Trading Sdn. Berhad. (23.73%), Hikmat Elit Sdn. Bhd. (9.07%) and LKPP Corporation Sendirian Berhad (5.96%). As of 2023, The total planted area of Far East Holdings Berhad reached 18,898 hectares (Ha). Furthermore, the harvested fresh fruit bunches (FFB) of Far East Holding reached 292,663 tons and CPO production reached 55,670 tons.

 

Financially, in 2023, Far East Holding Berhad successfully gained revenue of MYR 0.542 billion or equivalent with USD 0.12 billion. Furthermore, the net income of Far East Holding Berhad reached MYR 0.105 billion or equivalent with USD 0.02 billion.

 

 

The Reference of The Rank of 10 Largest Palm Oil Companies from Malaysia 

 

Sime Darby Guthrie. 2024. Annual Report 2023. Accessed via https://www.sdguthrie.com/investor-relations/  on October 22nd, 2024.

Kuala Lumpur Kepong Berhad. 2024. Annual Report 2023. Accessed via https://www.klk.com.my/investor-media/financial-information/   on October 22nd, 2024.

IOI Corporation Berhad. 2024. Annual Report 2023. Accessed via https://www.ioigroup.com/investor-relations/financial-results   on October 22nd, 2024.

FGV. 2024. Annual Report 2023. Accessed via https://www.fgvholdings.com/investor-relations/annual-reports-presentations/   on October 22nd, 2024.

Genting Plantations Berhad. 2024. Annual Report 2023. Accessed via https://www.gentingplantations.com/investor-relations/annual_reports/   on October 22nd, 2024.

Sarawak Oil Palm Berhad. 2024. Annual Report 2023. Accessed via https://sop.com.my/investor-relations/#annual-reports   on October 22nd, 2024.

Boustead Plantation Berhad. 2024. Annual Report 2023. Accessed via https://bousteadplantations.com.my/ir/home.html  on October 22nd, 2024.

United Plantation Berhad. 2024. Annual Report 2023. Accessed via https://unitedplantations.com/investor-relations/   on October 22nd, 2024.

Far East Holding Berhad. 2024. Annual Report 2023. Accessed via https://fehb.com.my/financial-information/annual-reports/  on October 22nd, 2024.

Kim Loong Resources Berhad. 2024. Annual Report 2023. Accessed via https://www.kimloong.com.my/usr/mobile/pagesubmb.aspx?pgid=17  on October 22nd, 2024.