18 SEGMENT REPORTING Operating segments are reported in a manner consistent with the internal management reporting provided to the chief operating decision maker (“CODM”), which is the Group Management Committee (“GMC”). The GMC considers the business by product related activities. The reportable segments for the financial year ended 31 December 2024 have been identified as follows: • Plantation Division – Plantation estates and mill activities including cultivation, harvesting and production of fresh fruit bunches (“FFB”) and processing of FFB into crude palm oil (“CPO”) and palm kernel (“PK”), research and development activities, fertilisers processing, rubber processing and production, sale of planting materials and security. • Oils and Fats Division – Trading of CPO, refining of CPO, fractionation of refined bleached deodorised palm oil (“RBDPO”) and Palm Olein (“PO”), crushing of PK, production of oleochemicals namely fatty acid and glycerine, processing and sales of biodiesel products, production of consumer bulk and packed products. • Sugar Division – Sugar refining, sales and marketing of refined sugar and molasses. • Logistics and Support Division – Bulking and transportation facilities and services, information technology and travel. Corporate HQ, Others and Elimination mainly relates to the inclusion of investment holding companies within the Group and Group consolidation adjustments, which are not part of the operating segments. The reportable segments and the entities included in the respective segments have been changed from the financial year ended 31 December 2023 due to the changes in the internal reporting structure to the CODM. Commencing from 1 January 2024, certain businesses activities and trading of CPO, which were previously part of Plantation Division, have now been included under Oils and Fats Division. Comparatives have been restated to conform to the revised reportable segments. The GMC assesses the performance of the operating segments based on profit before zakat and taxation. FGV Holdings Berhad | Audited Financial Statements 2024 Notes to the Financial Statements For the financial year ended 31 December 2024 82
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