Olam Group to close Jiva Ag under 2025 re-organisation plan

SINGAPORE – Olam Group Limited has announced it will close Jiva Ag, its digital farmer services platform, as part of its Updated 2025 Re-organisation Plan.

The move will affect 606 employees across Singapore, Indonesia, India and Australia.

Eight employees in Singapore, 531 in Indonesia, 66 in India and one in Australia will lose their jobs. The company said it will support those affected through redeployment opportunities, severance packages and outplacement services. Staff will also have access to the Group’s employee assistance programme.

A spokesperson for Olam Group noted, “We recognise the impact of this decision on our employees and their families. We are doing all we can to support them during this transition.”

Strategic rationale

The closure follows the company’s re-organisation plan announced in April 2025, which seeks to reduce debt and make the business self-sustaining. The plan includes the gradual sale of assets and businesses under the Remaining Olam Group.

In its statement, the company said, “The Group has made the difficult but necessary decision to close Jiva Ag in light of the expected continuing investment required to sustain its operations in these challenging times and difficult market conditions.”

Olam had already reported losses linked to Jiva Ag earlier in the year. In its first half results of 2025, the Group posted a loss of S$13.2 million due to impairment of intangible assets, mainly tied to the platform.

With the shutdown, the company expects to record one-off costs of up to US$9 million in its second-half results. The costs, however, are not expected to affect the Group’s full-year performance in a major way.

The company added that intellectual property linked to Jiva Ag will remain under Olam Group or one of its subsidiaries.

Focus on balance sheet strength

Olam stressed its commitment to executing the re-organisation plan to strengthen its balance sheet and deliver value to shareholders. “We remain focused on ensuring resilience of our operating groups,” the company said.

The closure also comes soon after Olam announced a major financing deal through its subsidiary, olam food ingredients (ofi). Last month, ofi secured a multi-tranche revolving credit facility and term loan worth US$2.1 billion.

The facility will help refinance existing loans and fund general corporate needs. A total of 18 banks participated in the deal, which was led by Citibank, DBS Bank, MUFG Bank, Standard Chartered, HSBC and others. HSBC has been appointed as the facility agent.

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