IOI unit buys refiner Soctek for RM90m

LODERS Croklaan BV, a wholly-owned subsidiary of IOI Corp Bhd, proposes to buy from Ugreat Holdings Pte Ltd the entire equity interest in Soctek Sdn Bhd, a company involved in the refining and trading of crude palm oil (CPO), for RM89.2mil cash. 

“The IOI Group has planned to establish a blending facility in Malaysia for Loders Croklaan to facilitate its expansion into the emerging Asia-Pacific specialty fats market,'' IOI Corp said in a statement yesterday.