KUALA LUMPUR: PRG Holdings Bhd
plans to collaborate with the Investment Association of China to penetrate China’s halal market using the products of Felcra Livestock and Agri Product Sdn Bhd (FLAP).
The upholstery webbing manufacturer, which has also diversified into property development and construction, told Bursa Malaysia that it had inked a memorandum of understanding (MoU) with Felcra Bhd’s unit Felcra International Venture Pte Ltd and Overseas Investment Union of the Investment Association of China (OIU) to explore potential business and/or investment.
The MoU is valid for a year.
FLAP, which is involved in cattle feedlot operations, also produces products ranging from animal feeds to canned seafood.
OIU, set up by the Investment Association of China in 2012, aims to attract Chinese enterprises that intend to develop overseas affairs, and improve the core competitiveness of local companies by introducing advanced technology from elsewhere.
“The proposed collaboration will serve as a platform for the PRG group to tap business opportunities and investment in the halal market of China. This would also diversify the revenue stream of the PRG group,” PRG said.
In September last year, PRG proposed to list its manufacturing business on the Stock Exchange of Hong Kong.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
