(Photo: Johor Plantation Group)
Johor Plantation Group (JPG), a Malaysian palm oil manufacturer, officially listed on Bursa Malaysia on July 9. The IPO is expected to raise MYR 735 million (about USD 156 million), which will be used for green production and reforestation, aiming to halve carbon emissions by 2025 and expand the development of bio-methane as a new revenue source.
JPG expands green businesses through IPO as EU regulations tighten
JPG, backed by the Johor state government, is a subsidiary of Kulim Berhad under Johor Corp., a state-owned enterprise. Besides developing palm oil business, JPG is also involved in healthcare, food and beverage, and logistics. As of May, JPG owns 23 palm oil estates with a total area of 55,904 hectares, all certified by the Roundtable on Sustainable Palm Oil (RSPO).
