07/19/2013

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MYANMAR: FGVH targets natural rubber processing this year

Last December, FGVH signed a memorandum of understanding with Myanmar's Pho La Min Trading Ltd to scout for opportunities to set up rubber plantations and establish NR processing plant in the country.

Besides the processing plant, the group also planned to develop a complete supply chain of its three core businesses palm oil, sugar cane and rubber in Myanmar.

Mohd Emir said on Friday (5 July 2013) FGVH, which was studying over 12 acquisition proposals in Malaysia and overseas, was expected to announce the decision soon. He said the group was cautious on the acquisitions as it considered its palm oil business as a long-term investment.

"We are careful and cautious on how we acquire our upstream assets. They will go through various processes of evaluation, from our management to our investment committee and later the board for valuation. "We will acquire the best of the 12 that can give the best value to our shareholders," he told reporters.

It was reported that FGVH will use its RM6.2 billion cash pile for merger and acquisition exercises.(Syed Rashid Ali, Karachi, Pakistan)
Source: Daily "The Star", Kuala Lumpur, through "Bernama" (National News Agency of Malaysia); 5 July 2013

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