FGV, PLS Plantation plan durian JV

The company said in a filing with Bursa Malaysia that it will seek shareholders

KUALA LUMPUR: FGV Holdings Bhd is teaming up with  PLS Plantation Bhd to look into the planting of cash crops, primarily durians, in unplanted areas not suitable for oil palm.

FGV said on Monday it had signed a heads of agreement with PLS Plantation  at the Belt & Road Forum in Beijing, China to set up a potential joint venture.

FGV’s group CEO Datuk Haris Fadzilah Hassan said this collaboration was part of the group’s strategy to make productive use of unplanted areas that are not suitable for oil palm.

He also said the JV would explore additional revenue streams by increasing the percentage of cash crops. 

“FGV’s logistics and support businesses sector will also benefit from this partnership as it is able to offer a reliable logistical network to create a regional logistic gateway through strategic collaborations,” Haris said.