24/09/05 (India Infoline.com) - IVP Ltd. said on Saturday that the Boardof Directors of IVP Felda Palm International Pvt Ltd at its first meetingheld on September 16, decided to commence import and trading operations.The IVP Felda Palm International was incorporated on July 1.

IVP Felda Palm International has been set up under a Joint Ventureagreement between the company and Felda Palm Industries SDN BHD ofMalaysia for import, trading, marketing and selling of palm oil, itsfraction and products. IVP and Allana Group hold 70% shareholding in IVPFelda Palm International while Felda Palm Industries owns the remaining30% equity.

The Board of IVP Felda Palm International also decided to issue Capital ofRs 15mn, out of which Rs7mn (46.67%) has been issued to IVP.