CAB Cakaran in JV with Salim Group to re-enter Indonesian market

PETALING JAYA: CAB Cakaran Corporation Bhd, an integrated poultry farming producer, intends to re-enter the Indonesian market through a joint-venture (JV) with the republic's biggest conglomerate, Salim Group, by investing between US$50 million and US$80 million (US$1=RM4.37) over the next five years.

Its group managing director, Christopher Chuah Hoon Phoong, said that due to the COVID-19 pandemic, the company ceased activities in Indonesia and its expansion plan in the country, and both parties are currently resuming negotiations to continue the cooperation.