"We will buy natural rubber from local farmers and turn them into processed rubber. If it is successful, we may go further into rubber plantations by buying an initial 12,000ha," he added.
In December 2012, FGV signed a memorandum of understanding with Myanmar's Pho La Min Trading Ltd. Under the deal, a joint venture company will be set up to develop rubber business in three phases, starting with a processing plant.
FGV is an offshoot of Malaysia's Federal Land Development Authority (Felda).
Source: Daily "Business Times", Kuala Lumpur; 29 Apr 2013