Shift towards oleo derivatives showing good progress

MALAYSIAN INDUSTRIAL DEVELOPMENT AUTHORITY CHIEF EXECUTIVE OFFICER DATUK AZMAN MAHMUD.

KUALA LUMPUR: Local oil palm companies are keen to invest further downstream from oleochemicals to oleo derivatives, but many are still hesitant given the good revenue derived from their core upstream business.

Malaysian Investment Development Authority (Mida) chief executive officer Datuk Azman Mahmud (pic) attributed the slow take up rate to the perception that oleo derivatives business was capital intensive and involved some challenges.