KUALA LUMPUR: Ni Hsin Group Bhd
has inked a heads of agreement (HOA) with Datuk Sri Pua Tian Siong to facilitate negotiations over the proposed acquisition of the entire equity interest in each of the Hy-Fresh group of companies.
Hy-Fresh Group collectively operates one of Malaysia's largest fully integrated halal-certified poultry businesses under the HY-FRESH band.
According to Ni Hsin's statement, Hy-Fresh's itegrated operations and businesses span from feed milling, breeder and broiler farms, hatcheries, layer farms, processing plant, cold storage to distribution of their products across the country and Singapore.
Pua is the ultimate controlling shareholder and beneficial owner of Hy-Fresh Group.
"This event marks a new chapter and a significant progression for Ni Hsin following the recent diversification to the F&B sector.
"With this proposed acquisition, Ni Hsin will expand its business operations into the staple food industry.
"The poultry market is a significant component of the country’s food industry. Its growth has been resilient, driven by the high demand for chicken and eggs, which are staple foods in the Malaysian diet," said Ni Hsin principal officer Khoo Chee Kong.
