• Higher Malaysian production bolstered profits
• Declared an Interim dividend of 4.65 sen per share

Petaling Jaya, 21 August 2024 - SD Guthrie Berhad (SD Guthrie or the Group), formerly known as Sime Darby Plantation Berhad, registered a net profit of RM626 million for the six months ended 30 June 2024 (1H FY2024), a 39% year-on-year (YoY) increase from the previous corresponding period. For the second quarter of the financial year ending 31 December 2024 (2Q FY2024), the Group’s recurring net profit increased by 134% YoY contributing to the overall net profit of RM415 million.

The Group’s improved YoY operational performance was the result of improved fresh fruit bunch (FFB) production, lower operational costs and sustained strong crude palm oil (CPO) and palm kernel (PK) prices. FFB production rose by 8% YoY, primarily driven by the strong recovery in the Group’s Malaysian operations which recorded a commendable 38% YoY increase in FFB production. In 2Q FY2024, the Group’s average realised CPO and PK prices increased by 7% and 23% YoY to RM4,029 per metric ton (MT) and RM2,166 per MT respectively.

SD Guthrie International (SDGI), the Group’s downstream arm, also delivered strong results, registering a marked increase in YoY profits. In 2Q FY2024, SDGI’s profit before interest and tax (PBIT) increased by 81% to RM225 million from RM124 million in 2Q FY2023. The higher profits was largely attributable to higher margins achieved in all regions, primarily due to better prices, higher sustainability premiums and improved product mix.

Key Highlights

Chairman, Tan Sri Dr Nik Norzrul Thani Nik Hassan Thani said:

“I am pleased that SD Guthrie continues on its positive trajectory this year. Our strong financial performance to date adds to the excitement of our new brand identity as well as many other exciting developments in the company. The general optimism about what lies ahead is driving the commitment of our people and fuelling their motivation to move SD Guthrie forward, as we continue to create more value for our shareholders."

Group Managing Director, Datuk Mohamad Helmy Othman Basha said,

“These are exciting times indeed for SD Guthrie. Our involvement in the development of Kerian Integrated Green Industrial Park in Perak as well as the next phase of Enstek Industrial Park in Negeri Sembilan reflects the huge opportunities that lie ahead for our Company as we continue to pursue opportunities in our new business verticals, to enhance the value of our land. Having said that, our commitment to strengthening our core business segments is evident in the success of Upstream Malaysia’s rehabilitation efforts and remarkable turnaround. With this critical foundation in place, we will be well-positioned to shift focus towards our growth strategies and explore the further diversification of our current business to deliver a stronger performance in the future."

OUTLOOK FOR FY2024:

The Group forecasts that prices will remain firm until year end in line with global economic recovery. Expectations of sustained CPO demand is also expected to lend support to prices as it remains competitive compared to other vegetable oils.

The Group expects its plantation operations will continue to register improvements, especially from its Malaysian operations following the success of intensive rehabilitation efforts as well as enhanced agronomic practices. This clear focus on the core business segments will be reinforced even as SD Guthrie actively pursues opportunities in new business verticals, embarking into industrial park development in various states and renewable energy, particularly solar farms.

Barring any unforeseen circumstances, the Group expects its performance for the financial year ending 31 December 2024 to be satisfactory.

OUTLOOK FOR FY2024:

The Group is pleased to declare an interim dividend of 4.65 sen per share for FY2024.

• The development project will become the next phase of techpark@enstek
• Located on a 464-acre land in SD Guthrie’s Bukit Pelandok estate in Negeri Sembilan

Petaling Jaya, 21 August 2024 - SD Guthrie Berhad (SD Guthrie), formerly known as Sime Darby Plantation Berhad, plans to develop a HALMAS-certified Managed Industrial Park on 464 acres of prime land in the company’s Bukit Pelandok estate, Negeri Sembilan, in collaboration with TH Properties Sdn. Bhd. (TH Properties). HALMAS or ‘Halal Malaysia’ is an accreditation given to Halal Park Operators which comply with the requirements set out by the Halal Development Corporation Berhad (HDC), an agency under the Ministry of Investment, Trade, and Industry of Malaysia.

Positioned within the Malaysian Vision Valley 2.0 (MVV 2.0) economic corridor, the estimated market value of land for the development in Bukit Pelandok estate is above RM220 million.

The two companies signed a Memorandum of Understanding (MOU) today, outlining the intention of both parties to collaborate on the development of the industrial park and the best approaches to maximise the potential of the project. In line with SD Guthrie’s commitment to sustainable development, the MOU partners are also committed to ensuring that the development adheres to stringent environmental standards and sustainable practices.

The first of its kind in Malaysia, the new industrial park will be an extension of TH Properties’ successful techpark@enstek, a renowned international halal hub. Situated adjacent to established Techpark 1 and Techpark 2 in Bandar Enstek, the new development will serve as a natural and complementary expansion to these parks and is expected to attract both local and international companies wanting to leverage on the global recognition of Malaysia’s halal certification. Located in proximity to major highways, airports, and seaports, the development also offers superior connectivity and logistical advantages to businesses seeking much needed additional capacity and new opportunities in a strategic location.

“This collaboration with TH Properties aligns with SD Guthrie’s strategy to unlock the potential of our landbank while enhancing sustainable revenue streams for our shareholders,” said Datuk Mohamad Helmy Othman Basha, SD Guthrie’s Group Managing Director. “The proximity of this development to the existing tech parks provides a unique opportunity for Small and Medium Enterprises (SMEs) to benefit from facilities and business ecosystems already in place, while contributing meaningfully to the region’s economic growth,” he added.

Both Techparks 1 and 2 are already running at capacity with several local and multinational companies such as Kellogg’s, Ajinomoto, Dutch Lady, Malindo Air, Tyson Foods Malaysia, Farm Fresh, Mahsuri Food and Faiza established within the area. Other organisations and educational institutes that are also present in techpark@enstek include the Malaysia Halal Analysis Center (MyHAC JAKIM), the National Audit Academy, the Higher Education Leadership Academy (AKEPT), Institut Aminuddin Baki and Tunku Kurshiah College. The latest 616-acre Techpark 3 with Gross Development Value of RM1.4 billion was launched in November 2023 and is expected to mirror the robust sales performance of its predecessors.

With strong interest garnered from local and multinational parties, Techpark 3 is expected to register full take up rate this year for its 189-acre first phase.

The new industrial park will feature a range of ready built and built-to-suit factories, including linked, semi-detached, and detached options, along with vacant industrial plots tailored to various business needs.

With Kuala Lumpur International Airport a mere 16 km away and a network of major highways providing access, the new industrial park development will offer seamless connectivity and logistical advantages, making it an ideal location for businesses looking to expand their operations.

Witnessing the event, Dato’ Wan Hashimi Albakri W.A.A Jaffri, a Board Member of TH Properties, said, “We are thrilled to collaborate with SD Guthrie on this landmark project. The strategic location, combined with our expertise in developing HALMAS-certified industrial parks, will create a vibrant industrial ecosystem that attracts diverse businesses. This development will play a key role in supporting MVV 2.0 initiative, driving economic growth, and creating job opportunities.”.

As one of the largest plantation companies in the country, SD Guthrie’s landbank is strategically located in various states throughout Malaysia, and the company is in active discussions with several state agencies and partners to transform select parcels of land into industrial parks. This includes Malaysia’s first-ever 1,069-acre green industrial park development project, the Kerian Integrated Green Industrial Park (KIGIP) in the state of Perak. The company is expected to make more announcements once it has finalised its collaboration and joint-ventures with other potential partners in developing its land assets.

• A total of 40,250 metric tons delivered to its refineries in the Netherlands and UK
• Shipment sourced from 102,337 ha of oil palm plantations and smallholder farms

Petaling Jaya, 19 September 2024 - SD Guthrie Berhad (SD Guthrie), formerly Sime Darby Plantation Berhad, has delivered its first shipments of 40,250 metric tons (MT) of palm oil to Europe and the United Kingdom, that is fully compliant with the European Union’s Deforestation Regulation (EUDR).

The successful pilot shipments saw 24,250 metric tons (MT) of fully traceable and verified palm oil arrive at SD Guthrie International Zwijndrecht Refinery in the Netherlands last week followed by another shipment of 16,000 metric tons (MT) at the SD Guthrie International Liverpool Refinery in the United Kingdom, today. An important aspect of SD Guthrie’s EUDR-compliance is the 102,337 hectares (ha) of oil palm plantations and smallholder farms within its supply chain. This reflects the company’s efforts to build sustainable and resilient sources while enabling small palm oil producers to participate in the EU deforestation-free supply chain.

SD Guthrie International is a wholly owned subsidary of SD Guthrie, representing its entire downstream operations.

Being EUDR-compliant means that detailed polygon maps of all plantations in SD Guthrie’s supply chain are available, along with deforestation-free assessment reports that meet stringent EUDR definitions. These efforts were supported by comprehensive audit reports documenting compliance with national legislation, International Labour Orgnisation (ILO) standards, and respect for native customary rights.

Using satellite imagery, SD Guthrie partnered with a third-party verifier to assess a forest baseline covering six (6) billion ha, and analysed around 600,000 ha of its plantations for deforestation risks. Having established a No Deforestation, No Peat and No Exploitation policy in 2016, SD Guthrie also employs Crosscheck, an online tool that maps its palm oil from source to supply and allows traders and buyers to establish a chain of traceability.

Under imminent EUDR rules, starting December 30, products being exported into the EU including palm oil, soya, wood, coffee, cattle, cocoa and rubber require conclusive and verifiable proof they are not linked to deforestation at any point in the supply chain.

Datuk Mohamad Helmy Othman Basha, SD Guthrie’s Group Managing Director said: “As an integral part of the food system, we recognise the profound responsibility we bear in driving responsible agriculture practices and to fortify resilient supply chains. We are fortunate to have a small but inclusive supply chain from Papua New Guinea and the Solomon Islands, which has enabled us to map the 17,357 smallholders in our supply chain and consolidate all the information required for EUDR compliance on their behalf. This has allowed us to help them navigate the logistical challenges posed by the EUDR and ensure a smooth, successful implementation.

He added: “Managing our own plantations gives us the ability to enforce stringent controls and the confidence that we can provide evidence if we are asked specific questions, allowing us to build fully compliant EUDR supply chains.”

Founded 200 years ago, SD Guthrie integrates robust business practices with Environmental, Social, and Governance (ESG) aspirations, focused on climate resilience, fair labour practices, and responsible agricultural methods.

• A total of 40,250 metric tons delivered to its refineries in the Netherlands and UK
• Shipment sourced from 102,337 ha of oil palm plantations and smallholder farms

Liverpool, United Kingdom, 19 September 2024 - SD Guthrie International (SDGI), formerly known as Sime Darby Oils, has delivered its first shipments of 40,250 metric tons (MT) of palm oil to Europe and the United Kingdom, that is fully compliant with the European Union’s Deforestation Regulation (EUDR).

The landmark pilot shipment of 24,250 metric tons (MT) of palm oil, traceable and verified to meet stringent deforestation-free standards, arrived last week at SDGI’s Zwijndrecht Refinery in the Netherlands. Another shipment of 16,000 metric tons (MT) arrived at SDGI’s Liverpool Refinery in the United Kingdom today.

As a wholly-owned subsidiary of one of the world’s largest producers of certified sustainable palm oil – SD Guthrie Berhad (SD Guthrie), formerly Sime Darby Plantation Berhad – this milestone marks a major achievement in SDGI’s commitment to sourcing sustainable palm oil, aligning with the evolving regulations in the EU market. The shipment, sourced from 102,337 hectares (ha) of oil palm plantations and smallholder farms within SD Guthrie’s supply chain, reflects the entire group’s efforts to build sustainable and resilient sources while enabling more palm oil producers to participate in the EU deforestation-free supply chain.

Dr Shariman Alwani, SDGI’s Chief Executive Officer said: “As the European market moves toward stricter sustainability requirements, we are proud to be at the forefront of delivering palm oil that meets the highest environmental standards. SD Guthrie International’s commitment to source from deforestation-free supply chains enables us to continue offering our customers products that not only comply with regulations but also contribute to a more sustainable future for all stakeholders."

To achieve EUDR compliance, SDGI worked closely with SD Guthrie’s upstream division to ensure that detailed polygon maps and deforestation-free assessments of all plantations that meet stringent EUDR definitions were available. By utilising satellite imagery and partnering with a third-party verifier, SD Guthrie has been able to assess a forest baseline covering six (6) billion ha and analysed around 600,000 ha of its plantations for deforestation risks. These efforts were supported by comprehensive audit reports that also documented adherence to national legislation, International Labour Organisation (ILO) standards, and respect for native customary rights.

SD Guthrie established its No Deforestation, No Peat and No Exploitation policy in 2016. Supporting this policy, Dr Shariman said SDGI has been utilising Crosscheck since 2019, an online traceability tool that maps its palm oil from source to supply. The tool allows traders and buyers to pinpoint where issues may arise in the supply chain and raise alerts for corrective action to be taken. This, he said, will help SDGI ensure that its supply chain continue to adhere to the new EU rules.

“Our commitment to adhering to the European Union’s Deforestation Regulation (EUDR) goes beyond compliance. We view this as an opportunity to continuously improve our practices, ensuring that our supply chains remain transparent, traceable, and aligned with the global shift towards responsible sourcing. SD Guthrie International is fully committed to staying ahead of the evolving regulations, reinforcing our role as a trusted partner in delivering sustainable palm oil to Europe.”

Under imminent EUDR rules, starting December 30, products being exported into the EU including palm oil, soya, wood, coffee, cattle, cocoa and rubber require conclusive and verifiable proof they are not linked to deforestation at any point in the supply chain.

• MOU signed to develop 641 acres in Kulai, Johor
• On-site solar park to serve as dedicated green energy source

Petaling Jaya, Malaysia, 4 November 2024 - SD Guthrie Berhad (SD Guthrie), formerly known as Sime Darby Plantation Berhad, and AME Elite Consortium Berhad (AME Elite), through its wholly owned subsidiary, AME Industrial Park Sdn. Bhd. (AME Industrial Park) have announced plans to jointly develop a green industrial park within the Johor-Singapore Special Economic Zone (JS-SEZ).

It will be developed on 641 acres of prime land in SD Guthrie’s Kulai estate in Johor, and will include a dedicated solar park to provide the industrial park with green energy.

Positioned as a hub for high-value industries such as logistics, advanced manufacturing, and clean technologies, the new industrial park will feature a range of ready-built and built-to-suit factories, including semi-detached, detached, and superlot options, tailored to bespoke business needs.

SD Guthrie and AME Industrial Park signed the Memorandum of Understanding (MOU) today, outlining the best approaches to maximise the potential of the project. The MOU partners have also agreed that the development will adhere to stringent environmental standards and sustainable practices. Both parties aim to formalise the collaboration further, with a joint venture agreement, within the next five months.

AME Elite is an integrated industrial property development, construction, engineering services and property management services provider, specialising in the development of industrial parks and the construction of large scale manufacturing plants. It is renowned for its successful “i-Park” branded managed industrial parks in Johor, including i-Park @ Senai Airport City and i-Park @ Indahpura.

SD Guthrie had announced in May 2024 that it is expanding into green industrial parks and renewable energy, to unlock the value of its vast landbank in Malaysia, and to create sustainable revenue streams. Through this MOU with AME Industrial Park, SD Guthrie intends to unlock the value of its strategically located landbank within the JS-SEZ.

SD Guthrie’s Group Managing Director, Datuk Mohamad Helmy Othman Basha said the company is delighted to participate in Johor’s vibrant economic development. AME Elite has successfully completed four industrial development projects in Johor and is currently developing four others in Johor and Penang, spanning a total land area of approximately 800 acres, with a combined estimated Gross Development Value (GDV) of RM6 billion.

“The new industrial park, which will be located on part of our land in Kulai, represents a new step forward that will foster greater economic growth within the JS-SEZ,” Mohamad Helmy said. “For decades, we have operated oil palm estates, mills and a refinery in the state of Johor, and we have always been committed to driving sustainable development that benefits the local community."

He noted that creating synergy with existing and more experienced players in the development of industrial parks is an important strategic step for SD Guthrie as it ventures into new business verticals. “This memorandum with AME Elite signals our intent to create more revenue streams from our strategically located land assets, and more value for our shareholders,” he said.

The new industrial hub in Kulai will be located in a prime area with significant logistical advantages for prospective investors and business communities. It is situated approximately 20 kilometers from Johor Bahru Senai International Airport, and is well-connected via the North-South Highway, offering proximity to key ports such as Tanjung Pelepas and Pasir Gudang. Surrounding developments such as the i-Park @ Senai Airport City and i-Park @ Indahpura are enjoying high take-up rates, which augurs well for development in the area.

“This collaboration with SD Guthrie is a significant opportunity to advance sustainable industrial development in Malaysia, further raising our profile as a leading sustainable industrial park developer in attracting foreign investments and supporting various domestic industries,” said Dylan Tan Teck Eng, Executive Director and Group CEO of AME Elite.

“By combining AME Elite’s expertise in creating award-winning industrial parks with SD Guthrie’s strategically-situated land, we will attract high-value industries and capitalise on the strong potential of the JS-SEZ.

This project is certainly part of our strategy of leveling up our standards in industrial park development, not only adhering to high environmental standards, but also leading the way in sustainability,” he added.

SD Guthrie is in active discussions with several state agencies and potential business partners to develop selected land parcels located strategically throughout Malaysia.

In August this year, SD Guthrie announced its potential collaboration with TH Properties Sdn. Bhd. to develop Malaysia’s first HALMAS-certified managed industrial park.

Petaling Jaya, Malaysia, 13 November 2024 - SD Guthrie Berhad (SD Guthrie), formerly known as Sime Darby Plantation Berhad, has unveiled its bold, new sustainability framework - Beyond Zero. Launched at an event during the annual Roundtable on Sustainable Palm Oil conference (RT2024) in Bangkok, Thailand, Beyond Zero articulates SD Guthrie’s responsibility to mitigate negative impacts on people and the planet, and also to actively create positive outcomes, all while supporting the Company’s business growth.

The three pillars of the Beyond Zero framework, Zero, Restore and Transform, focus on driving credible positive impacts and creating long term value for stakeholders. It reinforces SD Guthrie’s commitment to environmental, social, and governance (ESG) principles in keeping with its role as a global leader in certified sustainable palm oil production.

Three headline projects under the Beyond Zero framework are:

1. Restoration and conservation of 100,000 hectares by 2030, leveraging on existing projects and initiatives. This will be implemented across SD Guthrie’s operations and sourcing landscapes, working closely with strategic partners. To date, the company has more than 45,000 hectares of conservation set-asides across its operations.
2. Development of a Regenerative Agriculture Framework for Palm Oil by 2025. SD Guthrie will work with partners to develop a Regenerative Agriculture framework, and by 2028, will implement a pilot programme in its palm oil operations.
3. Improving the livelihoods of 50,000 smallholders by 2035, an increase from the current 33,793 smallholders supported by SD Guthrie. Through targeted programmes, smallholders will receive necessary assistance to increase their yields, improve income sustainably, achieve certification and gain access to new markets. This initiative includes a comprehensive programme to prepare smallholders within the company’s supply chain for the European market.

SD Guthrie’s Beyond Zero framework supports its Science Based Targets initiative (SBTi) validated net-zero targets, with action plans that are aligned with the Paris Agreement’s 1.5°C goal. SD Guthrie is the first palm oil Company globally to achieve SBTi validation.

Datuk Mohamad Helmy Othman Basha, SD Guthrie’s Group Managing Director said: “Beyond Zero captures SD Guthrie’s long-standing commitment to sustainability and articulates clearly how we will contribute to address global challenges, such as climate change, nature and biodiversity loss, as well as improving lives and livelihoods.

We have drawn on our inherent strengths as an organisation with a wide geographical reach and our commitment to continuous improvement to implement our Beyond Zero framework.

We drive meaningful change across one of the most complex supply chains in the world, but now, we are accepting the responsibility to do more – to ensure that sustainability is built into our strategy and our operations. This is our promise to our stakeholders.”

Developed through a rigorous process with insights from SD Guthrie’s Board of Directors, partners and stakeholders, Beyond Zero began with an exhaustive audit of the Company’s current initiatives. An external review was also conducted to align with evolving industry standards and regulations, shaping the framework’s structure. This approach enabled the Company to set new, ambitious yet realistic targets.

SD Guthrie manages an extensive and complex supply chain spanning four source countries, 1,173 third-party mills, and over 47,000 smallholders worldwide. It requires extraordinary coordination to manage its sustainability performance and transparency across such vast and diverse operations, and supply chains globally.

• Strong crude palm oil prices & Malaysian upstream operations bolstered profits
• Continued strong performance in global downstream operations

Petaling Jaya, 20 November 2024 - SD Guthrie Berhad (SD Guthrie or the Group), formerly known as Sime Darby Plantation Berhad, registered a Recurring Profit Before Interest and Tax (Recurring PBIT) of RM1.8 billion for the nine months ended 30 September 2024 (9M FY2024), representing a 27% year-on-year (YoY) increase from the previous corresponding period (9M FY2023).

The Group’s strong Recurring PBIT performance was driven by the continued financial and operational improvements demonstrated in the Malaysian upstream operations, which saw a commendable 23% YoY increase in fresh fruit bunch (FFB) production, compensating for lower production in Indonesia. Strong crude palm oil (CPO) and palm kernel (PK) prices also contributed to this performance, with the average realised CPO and PK prices increasing by 4% and 25% YoY, to RM3,957 per metric ton (MT) and RM2,194 per MT respectively.

For the third quarter of the financial year ending 31 December 2024 (3Q FY2024), the Group registered a net profit of RM766 million, a decline of 37% from the previous corresponding quarter in FY2023 (3Q FY2023). The decline was mainly due to the disposal gain of RM600 million registered in 3Q FY2023 arising from the sale of 384 hectares of land located in Mukim Kapar. Net profit stood at RM1.39 billion during 9M FY2024, a 16% YoY decrease from 9M FY2023.

SD Guthrie International (SDGI), the Group’s downstream segment, reported a PBIT of RM476 million for 9M FY2024, an increase of 14% compared to RM417 million in 9M FY2023. This improvement was driven by stronger profits in all regions, on the back of higher volume demand for the Asia Pacific bulk and differentiated refineries, and improved margins in Europe and Oceania.

The non-recurring profits for 9M FY2024 of RM359 million (9M FY2023: RM1,072 million) largely comprised net gains from land disposals in Malaysia.

Key Highlights

Chairman, Tan Sri Dr Nik Norzrul Thani Nik Hassan Thani said:

“SD Guthrie’s performance reflects the resilience of our global footprint and integrated operations. As the core businesses of SD Guthrie strengthen and aim for sustained optimal performance, we will use these strong foundations to develop our new business verticals, namely the development of industrial parks and renewable energy. We will drive these initiatives while instilling financial and operational discipline, with the goal of delivering sustainable value to our stakeholders."

Group Managing Director, Datuk Mohamad Helmy Othman Basha said,

“Strong CPO and PKO prices are expected to contribute to the overall performance of the Group, supported by the strong growth in downstream business that is performing well amidst global challenges.
With regards to our new business verticals, the partnership announced with AME Elite Consortium Berhad on 4 November 2024 to develop a green industrial park with a dedicated solar park within the Johor-Singapore Special Economic Zone (JS-SEZ) reflects SD Guthrie’s progress towards expanding into industrial parks and renewable energy. Meanwhile, there are ongoing discussions with established business partners in industrial park development in collaboration with state agencies for the development of selected land parcels throughout Malaysia. This will unlock the potential of our strategically located land assets creating long term, sustainable value for all stakeholders."

OUTLOOK FOR REMAINING FY2024:

The Group forecasts that CPO prices will be sustained at current levels, driven by tighter supply as a result of Indonesia's prolonged adverse weather conditions impacting CPO output, and the recent change in its B40 biodiesel mandate. Any further upside to CPO prices may be limited by the supply outlook and trading premiums of substitute vegetable oils.

For the remaining period of FY2024, the Group expects to see positive results arising from strong CPO and PK prices, and continued strong performance of its European downstream operations.

Barring any unforeseen circumstances, the Group expects its performance for the financial year ending 31 December 2024 to be satisfactory.

• MOU signed to develop 1,166 acres in Bukit Pelandok, Negeri Sembilan
• Estimated Gross Development Value of RM2.95 billion

Petaling Jaya, Malaysia, 18 December 2024 - SD Guthrie Berhad (SD Guthrie), formerly known as Sime Darby Plantation Berhad, Eco World Development Group Berhad (EcoWorld) and NS Corporation (NS Corp), representing the Negeri Sembilan state government, have announced plans to jointly develop a 1,166-acre industrial park in Bukit Pelandok, Negeri Sembilan, Malaysia.

Positioned within the Malaysian Vision Valley 2.0 (MVV 2.0) economic corridor, the industrial park carries an estimated Gross Development Value (GDV) of RM2.95 billion and forms part of a larger initiative to advance sustainable development in Negeri Sembilan. The project aims to attract local and foreign investments, create high-value jobs and drive the state’s economic growth agenda. MVV 2.0, launched in December 2018, spans 379,087 acres across the Seremban and Port Dickson districts, and is designed to complement the growth of Greater Kuala Lumpur.

The industrial park, to be developed over eight years, will feature industrial lots, ready-built factories, and commercial properties tailored to high-growth sectors, including those in the aerospace, electrical and electronics, logistics, and biotechnology industries. Bukit Pelandok is in close proximity to the Kuala Lumpur International Airport, as well as major highways, and seaports, offering connectivity and logistical advantages that are conducive for business growth.

“This project reflects Negeri Sembilan’s vision to become a prosperous, inclusive, and sustainable state by 2045,” said YAB Dato' Seri Aminuddin bin Harun, Chairman of NS Corp. “Through strategic land use planning, enhanced infrastructure and utilities, and improved community amenities, we will elevate the quality of life for the people of Negeri Sembilan. As the state government’s strategic development agency, NS Corp is proud to collaborate with SD Guthrie and EcoWorld to make this vision a reality,” he added.

SD Guthrie is one of the largest landowners in Malaysia, with extensive operations in the palm oil sector, some of which are now proximate to areas of high development value. Through strategic collaborations, SD Guthrie is unlocking the potential of this landbank across Malaysia. In Negeri Sembilan, it has 16 estates, three palm oil mills, and two biogas plants. In May 2024, SD Guthrie announced its entry into new business verticals – industrial parks and renewable energy, to create diversified and sustainable revenue streams.

“With our strong presence and rich history in Negeri Sembilan, coupled with our proven track record in sustainable practices, we are well positioned to support Negeri Sembilan’s development ambitions,” said Datuk Mohamad Helmy Othman Basha, SD Guthrie’s Group Managing Director. “ESG principles are core to our new business verticals, guiding us in creating future ready industrial ecosystems that deliver long term value for our shareholders,” he added.

EcoWorld brings a wealth of experience to the table with a diverse portfolio that includes residential, commercial, and industrial real estate. It has close to 9,000 acres of total landbank across the Klang Valley, Penang, and Iskandar Malaysia, with an estimated GDV of RM86 billion. Of these, 2,415 acres are focused on industrial parks with four industrial parks in Iskandar Malaysia and one in Klang Valley. To date more than 1,400 local and international industrialists operate across EcoWorld’s Eco Business Parks. Demonstrating EcoWorld’s commitment to sustainability, nearly 90% of its projects have received green accreditation.

“We have a dedicated team of industrial park specialists whose expertise will play a key role in the success of this project. We cater to diverse range of industries and offer tailored solutions to meet the evolving demands of today’s dynamic industrial landscape, and we are confident that this initiative will bring new business opportunities to Negeri Sembilan,” said Dato’ Chang Khim Wah, EcoWorld’s President and Chief Executive Officer.

This year, SD Guthrie announced joint ventures to develop Malaysia’s first HALMAS-certified managed industrial park, spanning 464 acres, also located in Bukit Pelandok, and a 641-acre green industrial park within the Johor-Singapore Special Economic Zone. In May, the company unveiled its plans to co-develop the Kerian Integrated Green Industrial Park (KIGIP), a 1,000-acre project in Perak that integrates industrial facilities with large-scale solar farms for green energy.

SD Guthrie is in active discussions with state agencies and potential business partners to further develop strategically located land parcels across Malaysia.

• The Group’s Upstream and Downstream business outperformed in FY2024 compared to FY2023
• Buoyant crude palm oil prices and strong Malaysian upstream operations bolstered profits

Petaling Jaya, 20 February 2025 - SD Guthrie Berhad (SD Guthrie or the Group), formerly known as Sime Darby Plantation Berhad, chalked up a net profit of RM772 million in the fourth quarter of the financial year ended 31 December 2024 (4Q FY2024) bringing its full year net profit for the year to RM2.16 billion, a 16% year-on-year increase from FY2023.

On a recurring basis, the Group’s FY2024 Profit Before Interest and Tax (Recurring PBIT) surged 47% year-on-year (YoY) to RM2.65 billion from RM1.80 billion in FY2023, driven primarily by the strong performance of its Malaysian upstream business. Upstream Malaysia’s recurring PBIT more than tripled YoY to RM973 million, from RM275 million in the previous year, as focused efforts to rehabilitate and restore operations to previous levels yielded positive results, enabling the Group to capitalise on strong crude palm oil prices (CPO). The Group’s average realised CPO and palm kernel (PK) prices were 9% and 38% higher YoY, to RM4,101 per metric tonne (MT) and RM2,418 per MT, respectively. Minamas Plantations and New Britain Palm Oil also performed better in FY2024 than in FY2023, despite challenging operating conditions.

The Group’s fourth quarter net profit of RM772 million nearly quadrupled compared to the previous corresponding quarter.

SD Guthrie International (SDGI), the Group’s downstream segment, reported a PBIT of RM579 million for FY2024, driven by stronger profits from the Asia Pacific bulk operations. Europe continues to be the primary driver of SDGI’s performance, delivering strong margins.

The Group’s non-recurring profits for FY2024 of RM605 million largely comprised net gains from land disposals in Malaysia, which mitigated the impairment charges on assets in Malaysia and a subsidiary held for sale in Indonesia.

Key Highlights

Chairman, Tan Sri Dr Nik Norzrul Thani Nik Hassan Thani said:

"Supported by strong fundamentals, the Group will navigate through FY2025 with caution, as the operating environment remains unpredictable. Our geographically diverse and integrated operations should stand us in strong stead, while the foundations are laid to kickstart our new growth pillars."

Group Managing Director, Datuk Mohamad Helmy Othman Basha said,

“Our financial performance reflects the discipline, diligence and determination it has taken to turn the Malaysian operations around, which has resulted in far improved productivity. To drive further growth, the latest acquisition of an equity stake in Netherlands-based Marvesa Supply Chain Services B.V. strengthens our downstream footprint in Europe and unlocks opportunities for us to grow in the non-food segment, particularly animal feed and biofuel.
On the renewable energy and industrial park growth pillars, we are working closely with our strategic partners, progressing towards meeting project execution milestones. These milestones reflect our commitment to operational excellence, and dedication to sustainable value creation for our stakeholders."

OUTLOOK FOR FY2025:

While CPO demand is expected to remain steady arising from Indonesia’s announced B40 biodiesel ramp up and strong demand for edible oils, demand rationalisation and switching may occur as a result of palm oil’s prevailing price premium over other vegetable oils. Other than demand, vegetable oil price volatility is expected to persist in 2025 due to unpredictable weather conditions affecting production, uncertainties arising from continued geopolitical risks and concerns of tariff escalations impacting the global economy.

The Group anticipates improved FFB production from its rehabilitation and yield-enhancing initiatives, and will remain vigilant for potential regulatory or policy changes that could disrupt the global vegetable oil supply-demand balance. In parallel with efforts to enhance operational excellence in the upstream segment and expand its downstream footprint, the Group is also focused on achieving key execution milestones in its renewable energy and industrial development projects.

Barring any unforeseen circumstances, the Group expects to perform satisfactorily in FY2025.

DIVIDEND:

The Group has declared a final dividend of 11.71 sen per share, which together with the interim dividend of 4.65 sen per share, translates to a total single tier dividend of 16.36 sen per share for FY2024. The total dividends declared in FY2024 increased by 1.36 sen compared to FY2023’s total dividends of 15.00 sen per share.