IOI Corporation Bhd today announced the acquisition of a majority stake in an Indonesian palm oil company for RM850 million. This strategic move aims to expand its regional plantation operations. Following this news, IOI's share price rose by 1.5%, reflecting positive investor sentiment towards its growth strategy and market expansion efforts.
On March 10, 2026, plantation giant IOI Corporation Bhd saw its shares rise by 1.5% today, closing at RM4.10 per share, following the announcement of a significant acquisition plan. IOI Group stated it would acquire a 70% stake in an Indonesian palm oil company located in Kalimantan for RM850 million. This acquisition is expected to increase its plantation land bank by approximately 15,000 hectares and enhance its market share and production capacity in the Southeast Asian region. IOI Group's CEO commented that this strategic acquisition aligns with the company's long-term growth plans, aiming to optimize its upstream operations and achieve sustainable development goals. Analysts generally view this acquisition as a new growth driver for IOI Group, especially amidst continued strong global demand for palm oil. The market reacted positively to the deal, believing it will solidify IOI's leading position in the regional palm oil industry.
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