FGV says exploring potential collaborations in palm, sugar industries

PETALING JAYA: FGV Holdings Bhd said it is exploring potential collaborations in the palm and sugar industries, both in the upstream and downstream sectors.

“These potential collaborations include strategic alliances,” it said in a filing with the stock exchange in response to new report that it is in talks to sell MSM Holdings Bhd stake.

“FGV has stated in previous communications that the group is working on its transformation plan which includes reviewing all underperforming and non-performing businesses, especially the group’s legacy investments,” it added.

FGV explained that there are several initiatives that are ongoing and are at various stages of review and implementation.

“Since MSM’s Johor refinery came onstream in 2019, its total refining capacity increased to 2.2 million tonnes, enabling the company to serve both its domestic requirements and seek new opportunities in export markets.”

With that, FGV and MSM are exploring all avenues to successfully enter regional and international markets.

“Discussions are still at a preliminary stage.”

Source: The Sun Daily

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