Nestle to spend RM220mil on capital expenditure

(From left) Nestle (Malaysia) Bhd CEO Juan Aranols, chairman Tan Sri Syed Anwar Jamalullail and chief financial officer Craig Connolly posing for a photo after the group's annual general meeting.

KUALA LUMPUR: Nestle (Malaysia) Bhd has allocated a capital expenditure (capex) of RM220mil for this year, marking its highest capex investment in the past five years.

Nestle Malaysia CEO Juan Aranols said an estimated RM100mil will be for the expansion of the Chembong factory in Negri Sembilan to establish the world’s largest MILO Manufacturing Centre of Excellence.