CI goes for M&A boost

C.I. Holdings Bhd (CIH), a consumer edible oil company whose share price peaked to all-time high two days ago, is looking forward to higher earnings as it plans to double its monthly export volume in one to two years via its recent RM8.25mil purchase of a 60% stake in Palmtop Vegeoil Products Sdn Bhd.

Group managing director cum major shareholder Datuk Johari Abdul Ghani (pic) says the strategic advantage of acquiring Palmtop hinges on its under-utilised capacity with huge international market connections for consumer-packed edible oil but its growth is crimped by the lack of working capital.