Nestle allocates highest capex in seven years

KUALA LUMPUR: Nestle (Malaysia) Bhd is allocating a capex of RM300mil in 2021, its highest in seven years, to ramp up production capacity and upgrade technology as well as adopt state-of-the-art automation and digitalisation.

"We will also continue to drive our sustainability efforts across multiple fronts, with focus on Reforestation, Plastic Reduction/Collection and Recycling and constant effort to reduce the CO2 footprint of our operation," it said on the back of its first-quarter earnings result.