IOI Corporation
IOI Corporation Berhad is a publicly listed Malaysian integrated palm oil producer operating 172,459 hectares of plantations, midstream refining, downstream specialty oleochemicals and renewables, serving multinational food, pharmaceutical and personal care customers across 80+ countries.
- Company typePublic
- Founded1969
- HeadquartersPutrajaya, Malaysia
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What IOI Corporation does
IOI Corporation Berhad is a publicly listed Malaysian integrated palm oil company headquartered in Malaysia and listed on Bursa Malaysia, with origins dating to 1969 (founded as Industrial Oxygen Incorporated). The group operates three reporting segments — Plantation, Resource-based Manufacturing, and Renewables — spanning upstream fresh fruit bunch (FFB) cultivation across 172,459 hectares of planted area in Malaysia and Indonesia, midstream refining with approximately 1.5 million MT of wholly-owned capacity, and downstream specialty oleochemicals at 890,000 MT of capacity. The footprint includes 94 estates, 15 palm oil mills, four R&D centres and a biotechnology centre, supported by more than 28,000 employees globally and a sales reach across 80+ countries.
Core products span the full palm value chain. Upstream output is sold as crude palm oil and palm kernel. Midstream refined products include RBD palm oil, olein, stearin and mid-fractions. Downstream specialty oleochemicals are marketed under the Palmac (fatty acids), Palmsabun (soap noodles), Palmsurf (fatty esters, achieving up to 99.8% purity via continuous reactive distillation), and Palmid (fatty alcohols) families. Pharmaceutical-grade specialty excipients (IMWITOR, MIGLYOL, SOFTIGEN, WITEPSOL) are produced at IOI Oleo GmbH in Witten, Germany, under EU-GMP and FDA certification. Food ingredient fats reach customers via the Bunge Loders Croklaan associate. The Renewables segment commercialises OnCore palm wood panels and is extending into pulp from empty fruit bunches through the Nextgreen IOI Pulp JV.
The business model is primarily direct B2B sales to multinational enterprise customers across food manufacturing, pharmaceutical, personal care, cosmetics, industrial and food-service segments, with pricing tied to commodity CPO benchmarks and specialty ester contract structures. The model is differentiated by proprietary tissue culture technology for clonal high-yielding palms and integrated by-product valorisation into oleochemicals, palm wood panels and emerging pulp production. Sustainability certifications (RSPO, MSPO, ISCC, SBTi-validated targets and EUDR readiness) underpin access to regulated end-markets, while EU-GMP/FDA pharmaceutical registration secures the high-margin specialty excipient franchise. FY2023 revenue was RM11.58 billion (down from RM15.58 billion in FY2022) with net profit of RM1.1 billion.
IOI Corporation firmographics
Firmographics- Name
- IOI Corporation
- Legal name
- IOI Corporation Berhad
- Website
- https://ioigroup.com
- Company type
- Public
- Founded year
- 1969
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- IOI Corporation Berhad is a publicly listed Malaysian integrated palm oil producer operating 172,459 hectares of plantations, midstream refining, downstream specialty oleochemicals and renewables, serving multinational food, pharmaceutical and personal care customers across 80+ countries.
- Ownership category
- akta.pro rank
IOI Corporation industry classification
Industry- Product category
- Palm Oil and Oleochemicals Manufacturing
- NAICS
- Soybean and Other Oilseed Processing (311224), Fats and Oils Refining and Blending (311225), Starch and Vegetable Fats and Oils Manufacturing (31122), Oilseed and Grain Farming (1111)
- SIC
- Fats & Oils (2070), Agricultural Production-Crops (100)
- akta.pro primary industry
- Palm Oil Milling, Refining & Fractionation (AFAKAEAB)
- akta.pro secondary industries
- Tropical Oils & Fractions (Palm, Palm Kernel, Coconut) (AFAJALAD), Specialty & Tropical Oils Processing (Avocado, Sesame, Peanut, Rice Bran, Grapeseed) (AFAKAEAE), Other Oilseed Farming (Flaxseed/Linseed, Safflower, Sesame, Mustard, Camelina, etc.) (AFAGABAI), Omega-3 & Specialty Lipids (Fish/Algal Oils, EPA/DHA, MCTs, CLA, Phospholipids) (AFAJAKAC)
Keywords
Where IOI Corporation is headquartered
LocationHeadquarters
- HQ city
- Putrajaya
- HQ country
- Malaysia
- HQ region
- Asia
Offices13 records
Markets served
IOI Corporation business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Plantation Revenue: Revenue from cultivation of oil palm and processing of palm oil products including fresh fruit bunches (FFB), crude palm oil (CPO), and palm kernel. The upstream segment is shaped by commodity prices, yield per hectare, and production costs.
- Refining Revenue: Revenue from refining crude palm oil and palm kernel oil into RBD Palm Oil, RBD Palm Olein, RBD Palm Stearin, Palm Fatty Acid Distillate, and consumer pack products for domestic and export markets. Two wholly-owned refineries in Pasir Gudang and Sandakan with 1.5 million MT combined annual refining capacity.
- Oleochemical Revenue: Revenue from manufacturing and sales of fatty acids, glycerine, soap noodles and downstream oleochemical products such as fatty esters and specialty derivatives. Manufacturing facilities in Malaysia and Germany with 890,000 MT combined annual oleochemical capacity. Products used in automotive, construction, plastic, food, nutrition, pharmaceutical and cosmetics industries.
- Specialty Food Ingredients Revenue: Revenue through associate company Bunge Loders Croklaan Group BV (BLC) from production and supply of sustainable plant-based specialty oils and fats for food manufacturing and food service industry globally.
- Renewables Revenue: Revenue from palm wood panels (IOI Palm Wood Sdn Bhd) and pulp and paper products from oil palm biomass and empty fruit bunches through the Nextgreen IOI Pulp joint venture.
Go-to-market motion2 records
Distribution channels5 records
Marketing channels6 records
IOI Corporation product offering
Product offeringCore offering
IOI Corporation is a fully integrated palm oil producer that cultivates oil palm across 172,000+ hectares of plantations, refines crude palm oil into RBD Palm Oil, Palm Olein, Palm Stearin, and specialty fractions at two refineries (1.5 million MT capacity), and manufactures oleochemical products (fatty acids, glycerine, soap noodles, fatty esters) and pharmaceutical lipid excipients at facilities in Malaysia and Germany (890,000 MT combined capacity). The company also produces specialty food ingredients through associate Bunge Loders Croklaan and renewable products including OnCore palm wood panels and pulp from oil palm biomass.
Product overview
IOI Corporation is a fully integrated palm oil corporation with three core business segments: Plantation, Resource-based Manufacturing, and Renewables. The Plantation segment encompasses oil palm cultivation and fresh fruit bunches production across Malaysia and Indonesia. The Resource-based Manufacturing segment includes palm oil refining operations producing RBD Palm Oil, Palm Olein, Palm Stearin, and Palm Mid Fraction; oleochemical production under brands including Palmac® (fatty acids and glycerine), Palmsabun® (soap noodles), and Palmsurf® (fatty esters); and specialty food ingredients through associate company Bunge Loders Croklaan. The Renewables segment features IOI Palm Wood producing OnCore® palm wood panels from oil palm trunks, and pulp/paper products from empty fruit bunches. IOI also operates pharmaceutical-grade oleochemical products through IOI Oleo GmbH in Germany and holds subsidiary IOI Palm Biotech producing high-yielding oil palm clones via tissue culture.
Differentiator
Problem solved
Functional benefit
Products and services
- RBD Palm Oil, RBD Palm Olein, RBD Palm Stearin Refined, bleached, and deodorized palm oil fractions produced at refineries in Pasir Gudang and Sandakan for domestic and export markets, serving food manufacturers and industrial customers globally.
- Palm Mid Fraction Specialty palm oil fraction used in food processing applications including bakery shortenings, confectionery fats, and specialty coatings.
- Consumer Pack Palm Oil Products Consumer packed RBD Palm Oil, Blended Oil, and Soft Oil sold for local and export markets through IOI Global Services Sdn Bhd.
- Palmac Fatty Acids and Glycerine Leading brand of vegetable fatty acids and glycerine produced through innovation and optimisation of process control, serving value-added downstream processes in various industries including food, personal care, and industrial applications.
- Palmsabun Soap Noodles Premium soap noodle brand with diverse specifications and functionality for hair and skin care, baby care, sun care, toiletries and cosmetics applications, featuring patent-pending saturated soap technology.
- Palmsurf Fatty Esters High purity grade fatty esters derived from fatty acids of vegetable oil, produced using continuous reactive distillation technology with up to 99.8% purity without hazardous by-products.
- IMWITOR, MIGLYOL, SOFTIGEN, WITEPSOL Pharmaceutical Excipients Pharmaceutical specialty ingredient product lines from IOI Oleo GmbH for lipid-based excipients and active pharmaceutical ingredients in parenteral nutrition, topical, oral, rectal applications and animal health.
- SOFTENOL Performance Chemicals Performance chemical product line from IOI Oleo GmbH for technical applications including biodegradable and heat-resistant lubricants and plastic processing additives.
- KetoLipix Therapeutics Ketone Esters Pioneering ketone ester technology for pharmaceutical applications via KetoLipix Therapeutics GmbH, developing innovative ketogenic drug therapies with the world's largest proprietary ketone ester library for active pharmaceutical ingredients.
- OnCore Palm Wood Products Premium thermally modified palm lumber, blockboards and engineered palm wood panels produced from discarded oil palm trunks at the 20-acre Segamat manufacturing plant, featuring lightweight, strong, fire-resistant and eco-friendly properties certified under ISO, CE, ANSI, and SIRIM standards.
- Pulp and Paper from Empty Fruit Bunches Pulp and paper products produced from oil palm biomass and empty fruit bunches through the Nextgreen IOI Pulp joint venture, developed at the 410-acre Green Technology Park in Pekan, Pahang using Nextgreen's patented PRC-MP technology.
- IOI DxP Deli x AVROS Palm Hybrid Seeds and Clones Third-generation commercial DxP palm hybrid seeds and tissue-cultured high-yielding clonal palms produced by IOI Palm Biotech Sdn Bhd, with precocious traits producing harvestable bunches after 2 years of planting.
- Organic Palm Oil Certified organic palm oil produced at Southeast Asia's first certified organic oil palm plantation in the Pamol Kluang region. RSPO and organic certifications achieved in February 2024 for 1,128 hectares of organic oil palm.
Quantifiable outcome
- 42% reduction in GHG emission intensity in FY2024 vs 2015 baseline, ahead of 40% target for FY2025
- +5 more outcomes
Companies that use IOI Corporation
Customer profileNamed customers5 records
Segments5 records
Ideal customer profiles4 records
IOI Corporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
IOI Corporation partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered minor and core.
- Mega Star Holding Pte LtdminorIOI signed joint venture with Mega Star Holding to develop Malaysia's first integrated and sustainable coconut mill complex in Segamat, Johor. This diversification expands IOI's crop portfolio beyond palm oil into coconuts.
- Institute of Plantation Studies, Universiti Putra Malaysia (UPM)coreIOI Plantation Division signed strategic partnership with Institute of Plantation Studies, UPM uniting IOI's industry leadership with UPM's academic excellence to address challenges and optimise productivity in the plantation industry.
- Xiamen C&DcoreNextgreen-IOI JV partnered with Xiamen C&D for a RM900 million pulp plant in Pahang. Xiamen C&D leads product off-take and distribution for the zero-waste pulp production facility utilizing empty fruit bunches.
- Xiamen C&D Paper & Pulp Group Co LtdcoreXiamen C&D joined the Nextgreen IOI Pulp joint venture to lead product off-take and distribution for the zero-waste pulp production facility being developed in Pahang, Malaysia.
- International Labour Organization (ILO)coreIOI Group engages with ILO on labor-related issues including child rights and promoting socio-economic inclusion. IOI participated in workshops on child rights and challenges faced by children and young workers in plantations in Sabah.
- International Organization for Migration (IOM)coreIOI Corporation Berhad collaborated with IOM to develop pre-employment orientation programme aligned with ILO standards, championing fair, ethical and responsible recruitment of migrant workers. Joint development of orientation materials and processes for migrant workers.
- Nextgreen Global Berhad (NGGB)coreIOI partnered with NGGB to establish Nextgreen IOI Pulp Sdn Bhd for developing Malaysia's first large-scale, zero-waste pulp production facility from empty fruit bunches at Green Technology Park in Pekan, Pahang. NGGB provides its patented Preconditioning Refiner Chemical-Recycle Bleached Mechanised Pulp technology. The JV subsequently partnered with Xiamen C&D for product off-take and distribution.
- NestléminorIOI collaborates with Nestlé on RELeaf Project. Together planted more than 100,000 trees across 35 hectares of land. Reforestation project contributes to IOI's net zero target by enhancing carbon sequestration while providing habitats for biodiversity.
- BungecoreIOI collaborated with Bunge on Life Cycle Assessment (LCA) covering 13 of IOI's independent mills, including their associated supply base and estate operations to evaluate environmental impacts and GHG emissions throughout product life cycle.
- Bunge Limited (Bunge Loders Croklaan)coreIOI formed strategic partnership with Bunge by disposing 70% stake in Loders Croklaan Group B.V. to Bunge, creating Bunge Loders Croklaan Group BV (BLC). BLC is a leading global producer and supplier of sustainable plant-based specialty oils and fats for food manufacturing and food service industry globally. IOI retains significant associate interest in the venture which operates globally with facilities in Europe, US, Malaysia, and Indonesia.
- Kao CorporationminorIOI Oleochemical Industries Berhad partnered with Kao Corporation of Japan through Fatty Chemical (M) Sdn Bhd to build a RM165 million olefin plant at Prai Industrial Complex, producing novelty sustainable olefin for the Japanese market.
- Adeka CorporationminorIOI Corporation Berhad's joint venture with Adeka Corporation, Adeka Foods (Asia) Sdn Bhd, opened manufacturing facility in Johor, Malaysia. The RM45 million venture manufactures and sells premium margarine, shortenings, fat spreads and other foods to Southeast Asia and other countries.
- Harita GroupcoreIOI made first foray into Indonesian plantation sector by investing in two joint ventures for oil palm cultivation in Kalimantan with the Harita Group and its affiliates.
- Ho Bee Investment LtdminorIOI made first foray into Singapore property market with a joint venture with Ho Bee Investment Ltd to develop 3.6 acres of leasehold land on Sentosa Island for Seascape. Successfully joint-tendered for additional 5.3 acres at Sentosa Cove for Cape Royale development.
Scale indicators19 records
Recent moves13 records
Expansion highlights6 records
IOI Corporation competitors and assessment
Company assessmentDirect peers
- Astra Agro Lestari: Astra Agro Lestari is one of Indonesia's largest palm oil producers with integrated plantations and downstream processing. Comparable to IOI in palm oil upstream operations and exposure to Indonesian regulatory and sustainability dynamics, though with a more limited downstream portfolio.
- Wilmar International: Wilmar International is Asia's largest agribusiness and a leading global processor of palm oil with integrated plantations, refining, oleochemicals, and specialty fats. Highly comparable to IOI's diversified palm-based value chain and B2B customer base across food manufacturing and consumer goods.
- Golden Agri-Resources: Golden Agri-Resources is a leading Indonesian-based palm oil producer with integrated plantations, refining, and downstream products including specialty fats and oleochemicals. Comparable in vertically-integrated palm oil operations and exposure to similar sustainability/regulatory dynamics.
- Musim Mas: Musim Mas is one of the largest privately-held integrated palm oil companies with plantations, refineries, and oleochemical operations. Highly comparable to IOI in integrated palm oil value chain and specialty oleochemical offerings, with similar sustainability certification profile.
- Kuala Lumpur Kepong (KLK): KLK is a Malaysian integrated palm oil producer with upstream plantations in Malaysia and Indonesia, plus downstream oleochemicals and specialty fats. Comparable in geography, scale, and product portfolio, with similar B2B focus on food, personal care, and industrial oleochemicals.
- FGV Holdings: FGV Holdings is a Malaysian-based integrated palm oil producer with upstream plantations, downstream operations, and renewables. Comparable to IOI in Malaysian operating environment, plantation scale, and downstream product portfolio, though with a different ownership/governance structure.
- Sime Darby Plantation: Sime Darby Plantation is one of the world's largest palm oil producers with integrated upstream plantations, downstream operations, and renewables. Directly comparable to IOI in scale (Malaysia-based, ~600,000+ hectares), business model (plantation + downstream), and customer base (global food, oleochemical, and bulk edible oil buyers).
Broad incumbents
- Bunge Limited: Bunge is a global agribusiness and food ingredients major that holds a 70% stake in Bunge Loders Croklaan (IOI's former specialty fats business) and is a strategic partner to IOI. Comparable as a broad incumbent in edible oils, oilseed processing, and food ingredients with significant palm oil exposure.
- Cargill: Cargill is a global agribusiness giant with significant palm oil trading, refining, and downstream operations across food and industrial customers. Comparable as a broad incumbent operating across the palm oil value chain with overlapping B2B customer relationships and sustainability commitments.
Emerging players
- Emery Oleochemicals: Emery Oleochemicals is a global producer of natural-based specialty chemicals including fatty acids, glycerine, and oleochemical derivatives serving personal care, pharmaceutical, and industrial markets. Comparable to IOI Oleo GmbH's specialty oleochemical and pharmaceutical excipient portfolio, though Emery is more concentrated in oleochemicals without upstream plantation integration.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks4 records
Key highlights6 records
Customer concentration
IOI Corporation social profiles
Digital presenceIOI Corporation compliance and trust
Trust signalCompliance17 records
IOI Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
IOI Corporation leadership team
Management profileNumber of profiles
Profiles24 records
IOI Corporation subsidiaries and ownership
Company hierarchySubsidiaries9 records
IOI Corporation funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
IOI Corporation M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about IOI Corporation
What does IOI Corporation do?
IOI Corporation is a fully integrated palm oil producer that cultivates oil palm across 172,000+ hectares of plantations, refines crude palm oil into RBD Palm Oil, Palm Olein, Palm Stearin, and specialty fractions at two refineries (1.5 million MT capacity), and manufactures oleochemical products (fatty acids, glycerine, soap noodles, fatty esters) and pharmaceutical lipid excipients at facilities in Malaysia and Germany (890,000 MT combined capacity). The company also produces specialty food ingredients through associate Bunge Loders Croklaan and renewable products including OnCore palm wood panels and pulp from oil palm biomass.
Is IOI Corporation a public or private company?
IOI Corporation is a public company. It is classified as public and is currently operating.
When was IOI Corporation founded?
IOI Corporation was founded in 1969. It employs 5,001 to 10,000 people.
Where is IOI Corporation based?
IOI Corporation is headquartered in Putrajaya, Malaysia, in the Asia region.
How does IOI Corporation make money?
Five revenue lines are on record. Plantation Revenue is the primary driver. The others are refining Revenue, oleochemical Revenue, specialty Food Ingredients Revenue and renewables Revenue.
Who are IOI Corporation's main competitors?
Direct peers on record are Astra Agro Lestari, Wilmar International, Golden Agri-Resources, Musim Mas, Kuala Lumpur Kepong (KLK), FGV Holdings and Sime Darby Plantation. Broad incumbents are Bunge Limited and Cargill. Emery Oleochemicals is listed as an emerging player.
Does IOI Corporation have an API?
No public API is recorded for IOI Corporation.
What industry is IOI Corporation in?
IOI Corporation's product category is Palm Oil and Oleochemicals Manufacturing. Its primary akta.pro industry code is AFAKAEAB, Palm Oil Milling, Refining & Fractionation, with a secondary code of AFAJALAD, Tropical Oils & Fractions (Palm, Palm Kernel, Coconut). Its NAICS code is 311224 and its SIC code is 2070.