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PPB says not in talks with FGV on MSM acquisition | Malay Mail

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PPB says not in talks with FGV on MSM acquisition

KUALA LUMPUR, Sept 4 — PPB Group Bhd today confirmed it is not in talks with FGV Holdings Bhd on acquisition of a stake in MSM Malaysia Holdings Bhd.“I think it’s more appropriate for you to check with FGV, who they are talking to,” PPB Group managing director Lim Soon Hua told a media and analyst briefing here today.

Lim said for further expansion, the group has committed to investing RM794 million over four years, with RM395 million allocated to the grains and agribusiness segment for the construction of a wheat flour and grain mill in Vietnam and investment in Chinese flour mills, among others. The grains and agribusiness segment, which contributes 68 per cent to its revenue, is set to capitalise on its established market position and perform satisfactorily, while the consumer products segment is expected to remain stable for the rest of the year.

 

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