KUALA LUMPUR, 15 August 2018 – IOI Group’s charity arm, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) and University of Malaya (UM) represented by its Faculty of Science have entered into the signing of a Memorandum of Agreement (MoA) which marks the collaborative efforts between the two institutions to further enhance research and development in the field of sustainable palm oil plantation management. 

The MoA was signed today between IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng), which was represented by its Executive Director Datin Joanne Wong Su Ching and Biotechnology Controller of IOI Corporation Berhad (IOI) Dr. Lim Loon Lui, and UM which was represented by its Vice Chancellor Datuk Ir. (Dr.) Abdul Rahim Hashim and Acting Dean Faculty of Science, Professor Dr. Zanariah Abdullah. 

The first phase of this effort will consist of a collaborative research project between the two institutions through these two selected projects – development of bio-fertiliser using empty fruit bunch biochar and beneficial microbes and a study of species diversity of rats in palm oil plantations in Peninsular Malaysia and its control strategies. 

IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) was established in 1994 by the founder of IOI Group to contribute towards education, welfare and advancement of the country. Since its formation, IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) has impacted countless lives through its corporate social responsibility initiatives. IOI is committed to best management and good agricultural practices such as integrated pest management, as well as to its continued research and development in environmentally-friendly agro-land management. 

This research collaboration enables both parties to share their existing know-hows and to tap the innovation potentials that could help unlock new commercial opportunities. This initiative will serve to further push the agenda for encouraging and supporting further study by exemplary students and investment in higher education for qualified Malaysian youths. With this MOA, IOI is able to combine its corporate objectives together with its educational welfare programs in line with government efforts in promoting PPP’s (Public Private Partnerships). 

Malaysia is the world’s second largest producer of palm oil with an export value of RM75 billion in 2017. The production of palm oil in Malaysia is anticipated to be MSPO (Malaysian Sustainable Palm Oil) standards compliant by the end of 2019. IOI Foundation (formerly known as Yayasan Tan Sri Lee Shin Cheng) and UM believe that this strategic collaboration will benefit both parties in nurturing talent and in creating impactful innovative strategies in the palm oil industry.