Value Creation Is The Bedrock Of Our Business ANNUAL INTEGRATED REPORT 2022 69 Group Business Review Outlook Looking ahead, the Division continues to explore more efficient and sustainable ways of doing business. This includes paying greater attention to our impact on the environment and leveraging on technology to optimise our operations and costs. We also anticipate that Malaysia’s CPO production will increase further in 2023, resulting in higher revenue for our bulking business. While we are ready to seize opportunities for expansion through acquisitions or investments, our priority is to enhance the existing operations and ensure long-term profitability. Despite challenges resulted from the closure of our Indonesia facility, we were able to maintain a total storage capacity of more than 1 million MT in 2022. Furthermore, we have partially offset this reduction by commissioning a new 15,000 MT warehouse facility in Pasir Gudang. This new facility was established to meet the growing demand for storage space and further solidify our position as the market leader in Malaysia. 8.21 8.22 8.36 1.08 0.99 1.07 Storage Volume (Million MT) Bulking/Storage Capacity (Million MT) inclusive of Malaysia and Pakistan 8.15 8.47 8.37 Storage Tank Turnover Rate (Times) 2021 2020 2022 2021 2020 2022 2021 2020 2022 FGV is one of the world’s largest and state-of-the-art storage facilities for edible oils.
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