IOI Corporation Berhad

IOI Corporation Berhad, commonly known as IOI, is a Malaysian conglomerate incorporated on October 31, 1969, originally as Industrial Oxygen Incorporated Sdn Bhd. The company entered oil palm plantations in 1983, property development in 1984 and petroleum refining in 1997, and today runs more than 200,000 hectares of oil palm plantations in Malaysia and Indonesia, with downstream manufacturing of oleochemicals and specialty oils and fats exported to more than 70 countries. It was founded and led by Lee Shin Cheng until his death in 2019, is listed on Bursa Malaysia under stock code 1961, and palm oil remained its largest source of profit, accounting for about 63 percent of profits in 2023.