international india

7/31/2019 International INDIA

1/25


2/25

Resource Based Manufacturing for IOI Corporation

This business segment is essentially the downstream of IOI palm value chain - that can be

further differentiated into 3 major categories: (1) refinery, (2) oleo-chemicals, and (3) specialty

fats. Crude palm and palm kernel oils from our upstream mills are channeled to our refineries

located at origin and at destination, where the refined oils are then sold externally and/or

channeled internally for further value-add processing in our oleo-chemicals and specialty fats

manufacturing facilities spread out in four major continents serving customers in more than 65

countries globally.

Linking these manufacturing operations would be our Supply Chain Support - covering global

sales and marketing, import & export activities, logistic planning and procurement, price risk and

foreign exchange risk management - to form an integrated global palm value chain, which offers

the following strategic advantages:

optimal turnaround time ensuring freshness of our products to customers

enable quality control of our products along the value chain

accords a high degree of traceability on our end products

provides a degree of natural hedge against upstream commodity price cycles


3/25

RESOURCE-BASED MANUFACTURING

GLOBAL PRESENCE

LOCAL PRESENCE


4/25

REFINERY

IOI have four large scale palm oil refineries with combined refining capacity of 3.8 million MT per

year located domestically at source and abroad.

IOI refineries are modern physical refining plants integrated with fractionation facilities. The

refining process converts crude oil to edible quality oil by removing impurities, odour, and non-

glycosides like free fatty acids and gums to produce Refined Bleached Deodorized Palm Oil and

Palm Kernel Oil- which could then be subjected to first stage fractionation to produce Olein and

Stearine fractions.

Besides drawing upon competitiveness in process and energy efficiencies, we also have the

following accreditations.

ISO 9001 : 2000 (SIRIM)

OHSAS 18001 : 1999 (SIRIM)

HACCP (LLOYD)

KOSHER

HALAL

GMP


5/25

MILESTONES OF REFINERY IN IOI CORPORATION

1916

A refinery was installed.

1985

A complete rebuilding of the refinery was planned.

1989

The refinery unit of Monarch Fine Foods in Toronto became a part of Loders Croklaan.

Unilever acquired Durkee Industrial Foods to create Van Den Bergh foods.

1987

The Refinery Modernisation Project (RMP) was completed.

The two companies began operating under a common name, Loders Croklaan, with aheadquarter in the Netherlands.

1998

Loders Croklaan was presented with "Zaanse Ondernemerspijs", an award by the chamber ofcommerce.

The former refinery unit of Van den Bergh Foods in Channahon-USA came under supervision ofLoders Croklaan

2004

Loders Croklaan announced building Europe's largest palm oilprocessing plant in Rotterdam. Construction is scheduled to begin inthe second half of 2004 with plans for completion 12 months later.

Loders Croklaan has consolidated its position in the growing palm

ingredients market by buying Malaysian palm oil specialties companySoctek.

Loder Croklaan commenced construction of Europe's largest palm oilrefinery and fractionation plant in Rotterdam, which cost about EUR40 million (RM180 million).


6/25

2005

Prime Minister of Malaysia, YAB Datuk Seri Abdullah AhmadBadawi unveiled the topmost point of Europe's biggest palm oilrefinery in Rotterdam during his official visit to the

Netherlands/Germany.

A major fire has struck the vegetable oil and fats production andrefinery site of ArmaFoods and Loders Crorklaan in Ciaro, Egypt(June).

First crude palm oil tanker arrived at Loders Croklaan's new palm oilrefinery and delivered the first 10,000 tonnes of crude palm oil (Sept).

The first 25 tons of fully refined palm oil have been delivered from Loders Croklaan's palm oilrefinery in Rotterdam (Oct).

Loders Croklaan North America opens new oil processing factory in Channahan (Nov).


7/25

OVERVIEW INDIA MARKET

Manufacturing sector accounts for nearly 16% of Indias Gross Domestic Product (GDP). The

governments National Manufacturing Competitiveness Council (NMCC) envisages increasing

the share of manufacturing to 25% of GDP by 2025. Indias manufacturing sector consists of a

number of industries which are engineering goods, automotive, oil and gas, chemicals, and

textiles that together make up roughly 50% of the sector.

The rising competitiveness of Indias manufacturing companies is reflected in the countrys

ranking as second in the world in terms of competitiveness as per the 2010 Global

Manufacturing Competiveness Index (GMCI) prepared by the US Council on Competitiveness

and Deloitte. This index factors in market dynamics and policy issues that influence the sector.

India is ahead of major developed and emerging economies such as the US, South Korea, Brazil

and Japan. Going forward, the nations competitiveness would increase further with its index

score set to improve to 9.01 (out of 10) in the next five years from the year 2010.

The demand for edible oils in India has shown a steady growth at 4.43% over the period from

2001 to 2011. The growth has been driven by improvement in per capita consumption, which in

turn is attributable to rising income levels and living standards. However, the current per capita

consumption levels of India (at 13.3 Kg/year for 2009-10) are lower than global averages (24kg/year).1 The Indian edible oils market continues to be underpenetrated and given the positive

macro and demographic fundamentals it has a favorable demand growth outlook over the

medium-to-long term. In terms of volumes, palm oil, soybean oil and mustard oil are the three

largest consumed edible oils in India, with respective shares of 46%, 16% and 14% in total oil

consumption in 2010. Given the high price consciousness and varied taste preferences of Indian

consumers, ICRA expects these three oils to continue to account for the bulk of edible oil

consumption in the country. There has been a significant gap between demand and supply of

edible oil because of limited availability of oil seeds and shifting of acreage to other crops in the

domestic market. This gap has been met through imports, which account for almost 45-50% of

the total oil consumption. In 2010, edible oil imports were observed to be the lowest in the last

three years in view of improvement in domestic oilseed production.


8/25

SWOT ANALYSIS

STRENGTH

a. IOI have four large scale palm oil refineries

IOI have four large scale palm oil refineries with combined refining capacity of 3.8 million MT per

year located domestically at source and abroad. IOIs refineries are modern physical refining

plants integrated with fractionation facilities. The refining process converts crude oil to edible

quality oil by removing impurities, odour, and non-glycerides like free fatty acids and gums to

produce Refined Bleached Deodorized Palm Oil and Palm Kernel Oil- which could then be

subjected to first stage fractionation to produce Olein and Stearine fractions.

b. One of the Most Efficient Palm Oil Producers

IOI is one of the most efficient palm oil producers, with yield per hectare of much higher than its

rivals in the year 200828.54 per mature hectare (tonne) compared to Sime Darbys 21.7 and

Bousteads 17.5 (Oh, 2009). This strength stems from IOIs belief that the most efficient

business model can be a very effective environmental model. Based on this model, IOI

STRENGTHS

IOI have four large scale palm oil refineriesOne of the Most Efficient Palm Oil Producers

High Cash Pile

WEAKNESSES

Financial Vulnerability

OPPORTUNITIES

Expand in new market such as India

Strong Palm Oil Consumption Growth inIndia

Consumers shift towards cheaper oils -palm oil

THREATS

Dampening Economic Outlook

Politic and government policy

SWOT


9/25

strategizes to maximize outputs from their plantations and factories while minimizing the inputs

required using an efficient and effective plantation management program. The efficient use of

land translates into lower fertilizer, pesticide and energy usage as well as benefits for the

environment.

c. High Cash Pile

As at end of 2008, IOI has amassed a high cash pile amounting to RM1.42billion (source: The

Star, 28 June 2008). High liquidity provides IOI the opportunity to progressively expand

plantation acreage. This expansion could be done by acquiring green fields, existing oil palm

plantations and distressed planters. As interest rate is also on the downtrend, IOI could

capitalize on the situation to look for leverage in its acquisition activities.

WEAKNESS

Financial Vulnerability

One of the few weaknesses of IOI is its financial vulnerability. As it operates in many countries

of the world and trades globally, it is subject to foreign exchange risk. Aside from that it also

faces risks such as interest rate risk, price fluctuation risk, credit risk, as well as liquidity and

cash flow risk. Although IOI operates within an established risk management framework with

clearly defined guidelines with are approved by the board, it still faces financial vulnerability due

to the highly unpredictable nature of business. In the last quarter of 2008, IOI has had a few bad

experiences in its financial dealings, reflecting its weakness in handling financial matters. Given

the current global economic situation, IOIs financial profile is not likely to improve in the

foreseeable future as the global economic woes will continue to pressure the property market

and palm oil prices.


10/25

OPPORTUNITY

a. Expand in new market such as India

Manufacturing holds a key position in the Indian economy, accounting for nearly 16 per cent of

real GDP in FY12 and employing about 12.0 per cent of Indias labor force. Growth in the sector

has been matching the strong pace in overall GDP growth over the past few years. For

example, while real GDP expanded at a CAGR of 8.4 per cent over FY05-FY12, growth in the

manufacturing sector was marginally higher at around 8.5 per cent over the same period.

Consequently, its share in the economy has marginally increased during this time to 15.4 per

cent from 15.3 per cent.

The rising competitiveness of Indias manufacturing companies is reflected in the countrys

ranking as second in the world in terms of competitiveness as per the 2010 Global

Manufacturing Competitiveness Index5 (GMCI) prepared by the US Council on

Competitiveness and Deloitte. This index factors in market dynamics and policy issues that

influence the sector. India is ahead of major developed and emerging economies such as

the US, South Korea, Brazil and Japan. Going forward, the nations competitiveness would

increase further with its index score set to improve to 9.01 (out of 10) in the next five years

from the 2010.


11/25

b. Strong Palm Oil Consumption Growth in India

The demand for edible oils in India has shown a steady growth at a CAGR of 4.43% over the

period from 2001 to 2011. The growth has been driven by improvement in per capita

consumption, which in turn is attributable to rising income levels and living standards. However,

the current per capita consumption levels of India (at 13.3 Kg/year for 2009-10) are lower than

global averages (24 kg/year).1 The Indian edible oils market continues to be underpenetrated

and given the positive macro and demographic fundamentals it has a favorable demand growth

outlook over the medium-to-long term.

In terms of volumes, palm oil, soya bean oil and mustard oil are the three largest consumed

edible oils in India, with respective shares of 46%, 16% and 14% in total oil consumption in

2010. Given the high price consciousness and varied taste preferences of Indian consumers,

ICRA expects these three oils to continue to account for the bulk of edible oil consumption in the

country.

c. Consumers shift towards cheaper oils

The domestic prices of various edible oils are largely correlated. Palm oil, being the cheapest

oil, impacts the price movement of other oils. Palm, soy and rapeseed (mustard) together

account for 73% of edible oil consumption in India, with palm oil accounting for 44% of total

consumption. Market share of soy & palm oils have gained significantly over the years, due to

increased access to imports. The strong growth of soy and palm oil consumption reflects Indian

consumers sensitivity to prices.

Non-packaged oils are estimated to account for nearly 50% of consumption in both urban and

rural markets. However, the development of the retail sector in India, backed by rising income

levels, has provided an opportunity to sell branded packs especially in the urban markets. The

branded segment is growing at 20% annually with sunflowers and soy oils leading the market.


12/25

THREAT

a. Dampening Economic Outlook

The dampening economic outlook has negative impacts for the oil palm industry as demand in

some regions plunges. This threat to the oil palm industry, sooner or later, is bound to have a

negative impact on IOI. The Star (22 Nov, 2008) quoted a source in the oil palm industry which

states that defaults on Malaysian and Indonesian palm oil contracts are estimated to involve 1.5

million tonnes of crude palm oil (CPO). This situation could lead to a deferment of palm oil

shipments and renegotiation of import deals especially with India and China.

b. Politics and government policy

It comprises political stability and the policies of the government. Ideological inclination of

political parties, personal interest on politicians, influence of party forums etc. create political

environment. For example, Bangalore established itself as the most important IT centre of India

mainly because of political support. In India many political factors those effect in business

environment. Political pressures in ruling government and vote bank problems. These are the

major factors those affect on political environment:-

These are related to the legal environment in which firms operate. In recent years in the India

There have been many significant legal changes that have affected firms' behavior. The

introduction of discrimination and disability discrimination legislation, an increase in the

minimum wage and greater requirements for firms to recycle are examples of relatively recent

laws that affect an organizations actions. Legal changes can affect a firm's costs and demand.

This consists of legislation that is passed by the parliament and state legislatures. Examples of

such legislation specifically aimed at business operations include the Trade mark Act 1969,

Essential Commodities Act 1955, Standards of Weights and Measures Act 1969 and Consumer

Protection Act 196. In India take many type of permission to the state government or central

government. In India many type of act like license permission, copyright permission, and many

types of other permission like employment law, trade and product restrictions, health and safety

regulations, EU and international laws, monopolies commission.


13/25

PORTER FIVE FORCES IOI INTERNATIONAL

Threat of substitute products or services

There are a lot of substitute products in the market such as olive oil, soybean oil, canola oil,

pumpkin seed oil, corn oil, sunflower oil, and so on. Although there are about 17 types of edible

oils and fats traded globally, palm oil remain the cheapest, is going for US$300 less than soya

oil, according to Credit Suisse. India is one of the world's leading producers of oil seeds and oil,

contributing to 9.3% of world oilseed production. It produces the largest number of commercial

varieties of oil seeds over nearly 28.4 million hectares of land. The major edible oils produced in

India are groundnut, rapeseed, Soya, cottonseed, sesame seed, castor seed, sunflower, and

safflower. Soybean is the third largest oilseed crop in India next to Groundnut & Mustard and

accounts for 25% of the total oilseeds produced in the country in a year. Soya oil contributes

about 10% of total vegetable oils produced in the country. India is the worlds second largest

producer of groundnut, next only to China. But groundnut being primarily a Kharif (monsoon)

crop is vulnerable to vagaries of monsoon and also speculative activities.


14/25

Bargaining power of supplier

Oil industry has small sub-suppliers from various industries, so bargaining power of suppliers is

low in India. In India there are lots of companies that involve in oil industry but there are still

produce limited amount of oil that needs by the consumers. So in order to fulfill the demand ofedible oil in India, they have to import some of the edible oil especially palm oil from others

country like Malaysia and Indonesia. This will give opportunity to IOI to make business in India

by joint venture with one of the company in India that is producing the palm oil in order to

expand their business in India.

High bargain power of buyers

The demand for edible oils in India has shown a compounded growth of 4.5% over the last 10

years and is estimated at 16.2 million tonnes for Oil Year (OY) 2010-11. India plays an

important role in the global edible oil market, accounting for approx. 10.2% share of

consumption; 7% share of oilseed production; 5% share of edible oil production and 13.6% share

of world edible oil imports for OY 2009-10. As per USDA estimates, India is the third largest

consumer of edible oils (after China and the EU-27 countries); and will account for 11% of

global edible oil demand and 16% of global imports in OY 2011/12F. Indias annual per capita

consumption has shown a steadily increasing trend from 4 kg in the 1970s to 10.2 kg in the late

1990s to current levels of ~13.5 - 14 kg. However, it still ranks well below the world average of

around 24 kg (per capita figures including consumption of bio-energy), thereby signifying the

high growth potential of the industry. Refer Charts 1 and 2 for trend in domestic demand and per

capita consumption of edible oils in India.

Threat of Entry

The threat of new entry is the possibility of new firms that will enter the industry. New entrants

bring a desire to gain market share and often have significant resources. Their presence may

force prices down and put pressure on profits. Even if a firm has not yet entered an industry, the

potential for it to do so place pressure on prices, since high prices and profit margins will

encourage entry by new competitors. Thus, barriers to entry can be a key determinant of industry

profitability.


15/25

Barriers to entry are the costs and legal requirements needed to enter a market. In India there are

rules and regulation that foreign companies have to follow in order to enter the market in India.

These barriers are able to protect the companies that are already in business by being a hurdle to

those trying to enter the market. In addition, a new competitor may inspire established companies

to react with tactics to deter entry, such as lowering prices or forming partnerships. The chance

of reaction is high in markets where firms have a history of retaliation, excess cash, are

committed to the industry or the industry has slow growth.

The threat of new entrants is greatest when processes are not protected by regulations or patents,

customers have little brand loyalty, start-up costs are low for new businesses entering the

industry, the products provided are not unique, switching costs are low, the production process is

easily learned, access to inputs is easy, access to customers is easy as well as economies of scale

are minimal.

Rivalry between competitors

Rivalry among competitors is often the strongest of the five competitive forces, but can vary

widely among industries. If the competitive force is weak, companies may be able to raise prices,

provide fewer products for the price, and earn more profits. If competition is intense, it may be

necessary to enhance product offerings to keep customers, and prices may fall below break-even

levels.

However, in India there are limited numbers of companies involve in this industry because they

are limited of resources in palm oil. Foreign and private companies start to enter their market and

want to penetrate the market.


16/25


17/25

December is the peak production period. The other important was the import policies of the

importing nations that less bureaucracy that made the company attract to expand in India. Crude

palm oil markets in India are Kandla (Gujarat), Mumbai (Maharashtra), Kakinada (Andhra

Pradesh), Chennai (Tamil Nadu), Vijaywada (Andhra Pradesh), Haldia (West Bengal), and

Indore (Madhya Pradesh). So, IOI Group through its subsidiaries, IOI Edible Oils Sdn Bhd has

made a Joint Venture Agreement between Gokul Refoils and Solvent Limited (GRSL).

IOI Edible Oils Sdn Bhd

IOI Edible Oils Sdn Bhd is a subsidiary of IOI Corporation Berhad (IOI Group) which is the

largest plantation company listed on Bursa Malaysia Securities Berhad. IOI Edible Oils Sdn Bhd

is a leading integrated palm oil player and core business of is integrated oil palm plantation

business with activities comprising of downstream resource based manufacturing, which

includes refinery, manufacturing of Oleochemicals and specialty oils and fats.

Gokul Refoils and Solvent Limited (GRSL)

Gokul Refoils and Solvent Limited (GRSL) is one of the leading FMCG Companies of India

with international presence, dealing in edible oils such as Palm oil (Palmolein), Soya bean oil,

Cottonseed oil, Sunflower oil, Mustard oil, Groundnut oil, Vanaspati and Industrial oils such as

Castor Oil. It is an ISO 22000:2005 certified company with a wide customer base spread

globally.

Today, GRSL has extensive marketing and distribution network helps it to reach the customers

in 20 states in India. GRSLs industrial product has established a loyal customer base in various

countries across continents. The company supplies products to United States, South Korea,

European Union, China, Singapore, Indonesia, Malaysia and Vietnam.


18/25

The Company owns four production plants equipped with latest equipment and technology in the

states of Gujarat and West Bengal in India. Their proximity to ports and connectivity with major

rail and road networks not only ensures uninterrupted supply of raw materials with cost

effectiveness but also facilitates extensive distribution of our production domestic and

international markets at optimal supply chain cost.

GRSL with its effective business strategy kept establishing the production units consecutively

with state-of-the-art complex machineries maintaining the growth structure in the posterior years.

The highly integrated nature and strategic location of its manufacturing units provides the

company a significant advantage over the unorganized players apart from effectively competing

with the organized players. GRSL has maintained optimum levels of capacity utilization despite

the constant increase in production capacities over the years. GRSL have annual capacity of

approx 300000 MT in seed crushing, annual capacity of 975000 MT in refining and 675000 MT

in solvent extraction.

GRSLs biggest asset has always been its technically qualified and dedicated work force always

striving to uplift the companys brand Image. The robust technical knowledge with strong ethics

of employees creates a strong base for the company. It has in-house provisions to assist farmers

in farming unsurpassed agro products by giving appropriate and timely advices. This ensures

consistent inflow of high quality agro produce which helps GRSL deliver quality products to

consumers. The quality products are packed in moisture free cabins for a long lasting freshness.

The packaging unit and its unique processes of packaging ensure pure and quality edible oils to

the end consumers.

Gokul Refoils & Solvent Limited has a sound evolution history of consistent growth and


19/25

achievements. The inception took place way back in the year 1992 with full vigor and valor by

two powerful men, Mr. Balwant Sinh Rajput and Mr. Kanubhai Thakkar. They ambitiously

launched the company with a strong aspiration to transform it into a FMCG multinational

conglomerate.

In the early 90s, when Information Technology was in its infancy and when developing a new

business was a convoluted job, they nurtured GRSL with their years of hard work, dedication

and domain Knowledge and accomplished the market status that they aspired for. The duo made

serious efforts to know the nuances of the business and strategically upheld the company to this

day, to this position in the Edible oil Market.

Moreover, age old unconstructive belief on new methods of extraction of oils, an unpromising

factor in the growth of the company, was eradicated with the help of huge complex machineries.

It was a dream-come-true for them when GRSL turned into a listed company in the 2008. There

was the variety of awards that owned by the company such as:

Awards

1) SEA Award in the year 2006-2007 & 2004-05 for Highest Exporter of Rapeseed

Extraction.

2) Oil Man of the year award from GLOBOIL India in the Year 2005 to Mr. Kanubhai

ThakkarMD, GRSL

3) The Solvent Extractors Association of India for being the Platinum Sponsor at 4th

International Seminar on Castor Seed, Castor Oil and its Value added Products.

4) Central Organization for oil and industry trade in the year 2005 for supporting All India

Seminar on Rabi Oilseeds Crops.


20/25


21/25

Production Process

Oils are one of the main ingredients of the worlds mostly cooked recipes. They enhance the taste

due to which the overall experience of the meal becomes memorable forever. Needless to say,

these oils have become an integral part as a cooking medium in all the cuisines. However, any

natural or manmade ingredient is infused with good and bad elements that are to be taken care in

right level and right time. Oils too come with both the elements. To get rid of unwanted

ingredients and make it fit for human consumption, oils are treated in state of art ultra modern

fully automatic plants into various intensified steps.

The process of refining (sometimes referred to as "alkali refining") generally is performed on

vegetable oils to reduce the free fatty acid content and to remove other gross impurities such as

phosphatides, proteinaceous, and mucilaginous substances. By far, the most important and

widespread method of refining is the treatment of the fat or oil with an alkali solution. This

results in a large reduction of free fatty acids through their conversion into water-soluble soaps.

After alkali refining, the fat or oil is water-washed to remove residual soap.

The two brands Gokul and Zaika encompass healthy cooking oil ranges full of flavor and quality.

GRSL produces a range of refined cooking oils Palm Oil, Soya Bean Oil, Ground Nut Oil,

Sunflower Oil, Mustard Oil, Cotton Seed Oil and Vanaspati Ghee catering to different categories

of customers. Extensive market research on consumer taste preferences and consumer friendly

packages are the origin of our consumer brands. The companys robust distribution chain and the

market strategy has allowed it to penetrate into every house hold of India and it further aims to

penetrate into the international market. From Television commercials, health camps to

promotions informing consumers of the health benefits of its products, the Company has created


22/25

strong brand recall and loyalty among every household.

Brand

Gokul Brand is a premium edible oil brand very well known in the country since GRSLs

inception. It has been applauded for its purity, freshness and its superior quality by the loyal

customers. The backdrop of the consumer preference and support has pushed the brand to the top

five positions in the country. The Products available under Gokul brand are Mustard oil, Refined

oils and Vanaspati. It is distributed to various depots and C&F Agents spread all across the

country who make Gokul brand a grand success.

Zaika Brand is the mass brand of the company. Zaika Vanaspati is yet another product of GRSL

with strong and reputed brand image and has been one of the preferred Vanaspati around the

country. It is known for its purity, consistency and smell that it exudes. Zaika Vanaspati is

distributed to various depots and C&F Agents spread all across the country.


23/25

Why JV

IOI Edible Oils Sdn. Bhd. Has make Joint Venture with Gokul Refoils and Solvent Limited

(GRSL) because of their reputation as ISO 22000:2005 certified company and their potential

having a wide customer base spread globally. GRSL also have the extensive marketing and

distribution network helps it to reach the customers in 20 states in India. GRSLs industrial

products has established a loyal customer base in various countries across continents. Other that,

their proximity to ports and connectivity with major rail and road networks that will ensures that

the problem such as interrupted supply of raw materials will prevent and they also will able to

operate with cost effectiveness. It will lead to facilitate extensive distribution of the production

for domestic and international markets at optimal supply chain cost. Based on GRSL capability,

the company has four production plants equipped with latest equipment and technology in the

states of Gujarat and West Bengal in India. The GRSL effective business strategy kept

establishing the production units consecutively with state-of-the-art complex machineries that

maintaining the growth structure in the years. The highly integrated nature and strategic location

of its manufacturing units provides the company a significant advantage over the unorganized

players apart from effectively competing with the organized players. GRSL has maintained

optimum levels of capacity utilization despite the constant increase in production capacities over

the years. GRSL have annual capacity of approx 300000 MT in seed crushing, annual capacity of

975000 MT in refining and 675000 MT in solvent extraction. Next, GRSL Company also has the

highly technically qualified and dedicated work force always striving to uplift the companys

brand Image. So, the IOI Oleochemical can share the knowledge, skill and expertise of human

capital between two companies. They also can fully utilize the advantages of GRSL such as the

market share of the customers, brand loyalty, and facility. Lastly, due to the market share


24/25

context, GRSL Company is engaged in commodity business in south Asia pacific region. It

focuses on small Markets in Malaysia, Indonesia, Philippines, South Korea, China and Vietnam.


25/25

Bibliography

Anjan Ghosh, K. R. (2011). Indian Edible Oils Industry: Key Trends and Credit Implications.

Mumbai: ICRA Rating Feature.

Commonity, C. P. (2011, November 28).India Now Worlds No. 1 Palm Oil Buyer, Group Says.

Retrieved June 3, 2012, from Crude Palm Oil Directory & Commonity:

http://crudepalmoildirectory.wordpress.com/2011/11/28/india-now-worlds-no-1-palm-oil-buyer-

group-says/

Foundation, I. B. (2010). India Manufacturing: Profit Potential and Opportunities Across The

Value Chain.Indian Brand Equity Foudation .

Gokul Group. (2012, June 5). Gokul Group. Retrieved June 5, 2012, from Gokul Group Website:

http://www.gokulgroup.com

IOI Group . (2011).Annual Report 2011. Putrajaya: Price Water House Cooper.

IOI Group. (2012, June 1). Business > Resource Based Manufacturing > Oleo-chemical .

Retrieved from IOI Group Web site: http://www.ioigroup.com/business/busi_oleo.cfm

Group. (2012, June 3). IOI Group. Retrieved June 3, 2012, from IOI Group Web site:

http://www.ioigroup.com

Jha, D. K. (2012, March 15). Markets & Investing. Retrieved June 3, 2012, from Business

Standard: http://www.business-standard.com/india/news/rise-in-edible-oil-imports-may-hurt-

refiners/467767/

Manoharan, T. R. (2007). The Scope of Influencing Business and Industry to Reduce Indias

Ecological Foot print in South East Asia. OIL PALM SECTOR IN INDIA .

Palm Oil Market. (2012, March 26). Palm Oil News. Retrieved May 29, 2012 , from Palm Oil

Market.com: http://palmoilmarket.com/india-supports-sustainable-palm-oil/

Patel, S. P. (2004). In Depth Study of Edible Oil Industry in India. S.V.INSTITUTE OF

MANAGEMENT.

Rahman, M. K. (2011, January 22). Business. Retrieved June 3, 2012, from International TheNews: http://www.thenews.com.pk/TodaysPrintDetail.aspx?ID=26984&Cat=3

international india

Documents