IOI and Mega Star will build a coconut oil production complex in Malaysia

Malaysian plantation conglomerate IOI Corp has established a joint venture with Singapore-based investment company Mega Star Holding to build a coconut processing complex in Segamat, Johor. According to IOI as of November 6, the joint venture will require an estimated investment of MYR 100 million (USD 24 million) and will combine the core business strengths of both corporations. Under the partnership, IOI stated that it will purchase and sell coconut oil to its subsidiaries and clients in the European Union (EU) and the United States, while Mega Star will purchase and sell concentrated coconut water in China and other countries in Northeast Asia through its group network. According to IOI, upon completion of construction in the fourth quarter of 2027, the integrated coconut processing complex will have a processing capacity of 100,000 coconuts per day and will produce products such as coconut oil and concentrated coconut water. As existing trees mature and IOI's coconut ...