MARKET DEVELOPMENT
FGV, Lipid Venture Ink JV Pact To Produce Tocotrienol
FGV, Lipid Venture Ink JV Pact To Produce Tocotrienol
14/11/2013 (Bernama) - Felda Global Ventures Holdings Bhd (FGV) continues its foray into the development of innovative products with the extraction of palm-based vitamin E (also known as tocotrienol) through a joint venture with Lipid Venture Sdn Bhd.
The possible 40:60 joint venture between Felda Global Ventures Downstream Sdn Bhd (FGVD) and Lipid Venture Sdn Bhd to produce and market tocotrienol has successfully secured a seed grant from the government's Performance and Management Delivery Unit (Pemandu).
In a statement Wednesday, FGV said the entry point project is part of the National Key Economic Area (NKEA) initiatives to tap into the vast application potential of palm-based derivatives in food and health-based products.
FGV has the option to become the major shareholder of the joint venture within the next two years.
Its President and Chief Executive Officer Mohd Emir Mavani Abdullah said the joint venture enables both parties to leverage on each other's strengths and advantages.
The innovative project, which will adopt the latest technology, also lowers the cost of production by half but the tocotrienol produced is of higher purity and free from chemical contamination.
With production capacity that could reach 70,000kg per year, the joint venture company is poised to become one of the major tocotrienol producers in Southeast Asia, said Mohd Emir.
The possible 40:60 joint venture between Felda Global Ventures Downstream Sdn Bhd (FGVD) and Lipid Venture Sdn Bhd to produce and market tocotrienol has successfully secured a seed grant from the government's Performance and Management Delivery Unit (Pemandu).
In a statement Wednesday, FGV said the entry point project is part of the National Key Economic Area (NKEA) initiatives to tap into the vast application potential of palm-based derivatives in food and health-based products.
FGV has the option to become the major shareholder of the joint venture within the next two years.
Its President and Chief Executive Officer Mohd Emir Mavani Abdullah said the joint venture enables both parties to leverage on each other's strengths and advantages.
The innovative project, which will adopt the latest technology, also lowers the cost of production by half but the tocotrienol produced is of higher purity and free from chemical contamination.
With production capacity that could reach 70,000kg per year, the joint venture company is poised to become one of the major tocotrienol producers in Southeast Asia, said Mohd Emir.