PETALING JAYA: Gunung Capital Bhd is collaborating with food supply trader and palm oil-related company Jendala Padu Sdn Bhd to improve the yield of biological assets at the Pandan Land Bintulu Palm Oil Estate.
In a filing with Bursa Malaysia, Gunung Capital said its 100% owned subsidiary Gunung Resources Sdn Bhd has entered into a memorandum of understanding (MoU) with Jendala Padu to develop quantitative and qualitative strategies for the project.
“The conclusions and solutions derived from the MoU shall provide the basis for a project management contract to manage the Pandan Land Bintulu Palm Oil Estate on a long term basis,” it said.
The group said it is seeking to apply its existing project management experience and resources from its management of land transportation asset revenue-contracts, and small hydropower development in Perak, to other industries with long term income stream prospects.
Under the MoU, the two parties will develop a functional working relationship in which both will share information related to the project and lend their respective expertise. The strategies developed may also include commodity hedging strategies and other financial instruments to protect yields against commodity price fluctuations.
Coordination between Gunung Resources and Jendala Padu will be conducted between the Jendala Padu site office and Gunung Resources project management team allocated to the project.
Jendala Padu is a general trader in food supply and cultivation, milling, operation, harvesting, sale and other ancillary activities relating to palm oil plantation.
IThe MoU will expire within three months from the date of signing.
Source: The Sun Daily