Malaysia's FGV optimistic U.S. import ban will be lifted this year
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Loading... - Sukiman Cung
- 28 Feb 2023
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Malaysian palm oil planter FGV Holdings (FGVH.KL) is optimistic that a U.S. import ban on its products would be lifted by the end of the year, its chief executive said on Monday.
FGV was banned by the U.S. Customs and Border Protection (CBP) in 2020 due to allegations of forced labour in its plantations. The company has since recruited an audit firm to review labour conditions of its workforce, which is mostly comprised of migrants.
On Monday, CEO Nazrul Mansor said FGV was in the process of remediating gaps identified by the audit firm and that it expects to submit a final report to the CBP by the end of the first quarter.
"We've got long list of items to do in order to get to the levels expected by the International Labour Organization (ILO) and CBP," Nazrul told reporters at an earnings news conference.
The company will upgrade housing facilities, compensate foreign workers who paid recruitment fees to secure jobs, ensure workers have access to passports, and adhere to laws on working hours, Nazrul said. Read More…
