UM PARTNERS WITH IOI TO ADVANCE PALM OIL INDUSTRY
University of Malaya (UM) represented by its Faculty of Science and IOI Group’s charity arm, Yayasan Tan Sri Lee Shin Cheng (TSLSC) 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.
On 15 August 2018, the MoA was signed between Yayasan TSLSC, 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 Hj. Hashim as well as the Acting Dean, Faculty of Science, Professor Dr. Zanariah Abdullah.
The first phase of this effort consists of a collaborative research project between these institutions through two selected projects – the 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.
Yayasan TSLSC was established in 1994 by the founder of IOI Group to contribute towards education, welfare and advancement of the country. Since its formation, Yayasan TSLSC 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 serves to further push the agenda for encouraging and supporting further study by exemplary students and investment in higher education for qualified Malaysian youths.
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 Malaysian Sustainable Palm Oil (MSPO) standards compliant by the end of 2019. Yayasan TSLSC and UM believe that this strategic collaboration would benefit both parties in nurturing talent and in creating impactful innovative strategies in the palm oil industry.