Malaysia’s Felda Global Ventures Holdings Berhad (FGV) has announcedits plan on cooperation in the cooking oil industry with Vietnam’sleading confectionary producer Kinh Do Corporation and regionallogistics solution provider Indo Trans Logistics Corporation (ITL).
The three companies are working to establish a new joint venturecompany focusing on production, sales, marketing and distribution ofspecialty oils and palm-based consumer-packed goods for the Vietnamesemarket.
According to head of FGV Palm Downstream ClusterZakaria Arshad, the cooperation with local companies, which boast astrong customer base, could help the Malaysian giant crude palm oilproducer to gain foothold in the country.
He said he believes in a future two-digit-number profit.
FGV and Kinh Do will each hold 40 percent of the venture’s totalshares, while the remaining 20 percent will belong to ITL and othersupporting companies.
Vietnam is the third largest populated country in Southeast Asia and the 13th biggest palm oil importer worldwide.
One Vietnamese is estimated to annually consume 16 kg of palm oil by2020, almost doubling the current figure, as the vegetable oil isincreasingly favoured by locals for its health benefit and competitiveprices.-VNA
The three companies are working to establish a new joint venturecompany focusing on production, sales, marketing and distribution ofspecialty oils and palm-based consumer-packed goods for the Vietnamesemarket.
According to head of FGV Palm Downstream ClusterZakaria Arshad, the cooperation with local companies, which boast astrong customer base, could help the Malaysian giant crude palm oilproducer to gain foothold in the country.
He said he believes in a future two-digit-number profit.
FGV and Kinh Do will each hold 40 percent of the venture’s totalshares, while the remaining 20 percent will belong to ITL and othersupporting companies.
Vietnam is the third largest populated country in Southeast Asia and the 13th biggest palm oil importer worldwide.
One Vietnamese is estimated to annually consume 16 kg of palm oil by2020, almost doubling the current figure, as the vegetable oil isincreasingly favoured by locals for its health benefit and competitiveprices.-VNA
