FGV plans commodity trade tie-up in China

KUALA LUMPUR: FELDA Global Ventures Holdings Bhd (FGV) is set to mark a new foray into China by collaborating with Shenzhen Agricultural Products Co Ltd (SZAP), an agri-business trading company.

The partnership will jointly explore opportunities in various commodities, including rubber and palm oil, said FGV group president and chief executive officer Datuk Mohd Emir Mavani Abdullah.

Shenzen-based SZAP specialises in the business of e-commerce and supply chain services in agricultural products.

“As the world’s largest trading powerhouse, China continues to be a destination market for FGV,” Mohd Emir said in a statement yesterday. “We look forward to working with SZAP to provide greater accessibility of our products to consumers in China amid growing demand,” he added.

In enhancing its downstream activities, FGV had previously formed partnerships to explore business operations in China. “Through our subsidiary, Felda Global Ventures Biotechnologies Sdn Bhd, we delivered shipments of palm methyl ester to Nansha Port in Guangzhou in response to China’s growing interest in renewable energy.

“With the many available opportunities, we look forward to collaborate further with business partners keen on working with us,” Mohd Emir added.

FGV noted that its business expansion into China is in line with Deputy Prime Minister Tan Sri Muhyiddin Yassin’s recent visit to the country. It is aimed at enhancing Malaysia-China ties and the two-way trade target of US$160 billion (or RM528 billion) by 2017.

The strategic move is part of FGV’s long-term growth plans  towards becoming as one of the leading global agri-business companies by 2020, Mohd Emir said.