Malayan Flour Mills to invest RM100mil in FY24

PETALING JAYA: Malayan Flour Mills Bhd (MFM) is investing a total of RM100mil in the financial year 2024 (FY24), of which RM32mil will be used to install a new milling line in Lumut.

MFM chairman Datuk Oh Chong Peng said the new milling line will have new, more efficient, cost-effective technology.

It will also raise the existing 1,800-tonne daily capacity by another 600 tonnes.

“The balance of RM60mil will be to construct and install flour silos and flour blending facilities in Mekong Flour Mills Ltd in southern Vietnam,” he said in the company’s 2023 annual report.

Oh said MFM had a capital expenditure (capex) of RM34.8mil in FY23; the bulk of which was invested in 14 additional wheat silos in Mekong Flour Mills Ltd to double its capacity from 50,000 tonnes to 100,000 tonnes and to enhance its warehouse and workshop.

In northern Vietnam, Vimaflour Ltd also completed its installation of 18 additional wheat silos with an extra storage capacity of 65,000 tonnes in FY23, Oh said. — Bernama

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Business News

Oil gains 1% on hopes of firmer demand
JPMorgan investors weigh CEO Dimon’s strategy, succession plan
Muhibbah rides on Cambodian tourism uptick
Feytech gears up for expansion to meet growing demand
Ready to rise up the ranks again
SC working overtime to combat spread of scams
Russia and Malaysia sign tax agreement
GDP up 4.2% in 1Q24
Chinese firms invest in ‘green’ jet fuel

Others Also Read