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09-08-22
Baladna inks agreement to start combined dairy farming business in Malaysia
(MENAFN) Baladna has went into a provisional stakeholders’ deal (Conditional SHA) with Malaysian firms FGV Holdings Berhad (FGV) as well as Touch Group Holdings Sdn Bhd (TGH), to improve an integrated dairy farming business in Malaysia.
Projected to be commercially functional by the next 3 years, the venture is going to manufacture 100 million litres of fresh milk an annum within the initial three years and is estimated to reach an amount of 300 million litres of fresh milk within 10 years.
According to Baladna’s very successful “grass to glass” concept, the mutual project is going to be fully integrated, from crop output to providing for the cows, to the processing as well as sale of the highest quality fresh milk.
The deal was inked by Piet Hilarides, head Executive Officer of Baladna; Dato’ Mohd Nazrul Izam Mansor, Group head Executive Officer of FGV; as well as YM Raja Dato' Idris Raja Halid, Group head Executive Officer of Touch Group Holdings.
MENAFN09082022000045014228ID1104667630
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