19 June 2025
ISF and Petchsrivichai Enterprise (PCE) Announce Historic Joint Venture to Revolutionise Thai Vegetable Oil Market
SURAT THANI, THAILAND, 9 June 2025 – ISF is proud to announce the signing of a landmark joint venture agreement with Petchsrivichai Enterprise Public Company Limited (PCE), a leading player in Thailand’s palm oil industry. This strategic collaboration will lead to the formation of Nitthai Specialty Oil and Fats Co., Ltd., a new joint venture company focused on entering the growing Thai vegetable oil market, particularly in the high-value-added segment for the food industry.
Under the terms of the agreement, PCE will hold 60% of the shares, while ISF will own 40%. Official company registration is anticipated in July 2025, with business operations expected to commence in October 2025.
The Joint Venture signing ceremony was held on 9 June 2025, at New Biodiesel Co., LTD. in Tha Chang District, Surat Thani, Thailand. Signatories included Mr. Prakit Prasitsupaphol, CEO and President of PCE; Ms. Kanyakorn Prasitsupaphon, Senior Executive Vice President of PCE; and Mr. Pornpipat Prasitsupaphol, Chief Strategy Officer of PCE. Representing ISF and its parent company, The Nisshin OilliO Group (NOG), were Mr. Masahiko Oka, Senior Managing Officer of NOG and Chairperson/Director of ISF; Mr. Toshio Fujimori, CEO of ISF; and Mr. Takashi Ishigami, Executive Advisor of ISF.
Mr. Masahiko Oka (Senior Managing Officer of NOG and Chairperson/Director of ISF)
Speaking at the event, Mr. Masahiko Oka stated: "ISF brings extensive expertise and innovation in specialty fats, while PCE contributes in-depth local knowledge, an efficient supply chain, and high-quality palm oil. Together, we are creating strong synergies to meet the evolving needs of the Thai market, including multinational food manufacturers and global brands seeking high quality, customised oil and fat solutions."
“This joint venture is a true synergy of strengths,” said Miss Kanyakorn Prasitsupaphon, Executive Vice President of PCE in her welcome speech. “By combining ISF’s specialty fats expertise with PCE’s integrated supply chain, we are well-positioned to deliver high value-added products and drive sustainable growth across Southeast Asia.”
This joint venture marks a key milestone for ISF as we expand our footprint in Southeast Asia. In collaboration with PCE, Nitthai Specialty Oil and Fats Co., Ltd. will combine ISF’s technical expertise in specialty fats with PCE’s fully integrated supply chain and strong local market presence.
This strategic alliance not only reinforces PCE’s leadership in Thailand’s palm oil sector but also solidifies ISF’s position as a global leader in specialty fats and oils. It opens the door to new opportunities in high-value-added products while supporting our broader goals for sustainable growth, innovation, and market expansion.
Intercontinental Specialty Fats Sdn. Bhd. (“ISF”) is a privately-owned company headquartered in Port Klang, Malaysia, established in 1980. As a leading manufacturer of palm specialty oils and fats, ISF owns and operates refining and downstream processing facilities across Peninsular Malaysia, with a dedicated workforce of approximately 700 employees. Additionally, we maintain a sales and distribution office in Shanghai, China, strategically positioned to support and empower local businesses. In 2018, we further expanded our operations with the establishment of a refinery in Italy. This refinery enhances the refinement process for ISF products originating from our Malaysian facilities before distributing them across Europe.
ISF is a subsidiary of The Nisshin OilliO Group, Ltd., the largest vegetable oil company in Japan.
For more information about Intercontinental Specialty Fats Sdn. Bhd, please visit: https://isfsb.com/
Petchsrivichai Enterprise Public Company Limited (“PCE”) operates as a holding company headquartered in Surat Thani, Thailand, investing in an integrated palm oil business with a robust supply chain management system. The company's key business includes palm oil production and trading, warehouse and port, cargo transportation service, ship transport and service.
For more information, please visit Petchsrivichai Enterprise.
