MARKET DEVELOPMENT
Felcra To Collaborate With Foreign Investors To Develop Downstream Business
Felcra To Collaborate With Foreign Investors To Develop Downstream Business
29/01/2014 (Bernama) - Felcra Bhd is looking to collaborate with foreign investors from Asia and the United States to develop its downstream business.
Chairman Datuk Bung Mokhtar Radin identified rubber and palm oil as the potential sectors to be developed with the foreign investors.
"We expect to sign a memorandum of understanding (MoU) with them by June," he told reporters here today after the signing of a memorandum of understanding (MoU) between Felcra and the Malaysian Palm Oil Board.
The MoU will facilitate tissue culture technology transfer which would see current palm oil production increasing by 20-30 per cent.
Felcra was represented by Chief Executive Officer Datuk Ramlee Abu Bakar while MPOB by its Director-General Datuk Dr Choo Yuen May.
Bung Mokhtar said the partnership with foreign investors would involve technology transfer to Felcra to develop the downstream business.
On other developments, he said the company has allocated RM150 million to replant 25,000 hectares of land with rubber and oil palm.
He said Felcra was also expecting the construction of its mixed development properties in Jalan Semarak, Kuala Lumpur, to begin in April.
He said the RM400 million 30-storey building, which would comprise residential and commercial properties, was scheduled to be completed in three years.
Chairman Datuk Bung Mokhtar Radin identified rubber and palm oil as the potential sectors to be developed with the foreign investors.
"We expect to sign a memorandum of understanding (MoU) with them by June," he told reporters here today after the signing of a memorandum of understanding (MoU) between Felcra and the Malaysian Palm Oil Board.
The MoU will facilitate tissue culture technology transfer which would see current palm oil production increasing by 20-30 per cent.
Felcra was represented by Chief Executive Officer Datuk Ramlee Abu Bakar while MPOB by its Director-General Datuk Dr Choo Yuen May.
Bung Mokhtar said the partnership with foreign investors would involve technology transfer to Felcra to develop the downstream business.
On other developments, he said the company has allocated RM150 million to replant 25,000 hectares of land with rubber and oil palm.
He said Felcra was also expecting the construction of its mixed development properties in Jalan Semarak, Kuala Lumpur, to begin in April.
He said the RM400 million 30-storey building, which would comprise residential and commercial properties, was scheduled to be completed in three years.