IOI Corporation Berhad is one of the largest integrated plantation companies. IOI is valued at about RM27.6 billion and is one of the top 30 largest companies listed on Bursa Malaysia.

Its founder, the late Tan Sri Dr Lee Shin Cheng passed away recently in June 2019. His rise from an ice-cream seller to a plantation and property tycoon is a classic rags-to-riches story. I took the chance to attend the annual general meeting of one of his legacies, IOI.

Here are nine things I learned from the 2019 IOI Corporation AGM:

1. IOI recorded a net profit from continuing operations of RM617.6 million in 2019. However, excluding other operating income – which comprised mostly of fair value gains – and forex movements in deposits and borrowings, IOI made a net loss from continuing operations of RM131.1 million. The result is mainly due to lower contributions from the plantation