8 August 2022

KUALA LUMPUR, 8 August 2022 – FGV Holdings Berhad (FGV), via its wholly-owned subsidiary, FGV Integrated Farming Sdn Bhd (FGVIF), entered into a conditional shareholders’ agreement (Conditional SHA) with Baladna for Trading and Investment W.L.L, a subsidiary of Baladna Q.P.S.C. (BALADNA), and Touch Group Holdings Sdn Bhd (TOUCH GROUP) for the development of an integrated dairy farming business in Chuping, Perlis.

Prime Minister, YAB Dato’ Sri Ismail Sabri Yaakob together with the Minister of Agriculture and Food Industry, YB Datuk Seri Dr. Ronald Kiandee, Menteri Besar Perlis, YB Dato’ Seri Azlan Man, Ambassador of Qatar to Malaysia and Chief Executive of NCIA witnessed the exchange of Conditional Joint Venture Agreement documents between the Chief Executive Officer of FGV Group, Dato’ Mohd Nazrul Izam Mansor, Chief Executive Officer of BALADNA, Mr. Piet Hilarides and Group Chief Executive Officer of TOUCH GROUP, YM Raja Dato’ Idris Raja Halid at the MAHA 2022 Launch Ceremony at MAEPS Serdang, Selangor.

The parties’ corresponding shareholding will be FGVIF (40%), BALADNA (40%) and TOUCH GROUP (20%), while the project, which is to be developed within an area comprising 3,259 hectares (8,053 acres) in FGV Chuping Agro Valley (FCAV), is expected to involve an investment of up to RM 4.5 bil.

The signing ceremony was held last Saturday at the Malaysia Agriculture, Horticulture and Agrotourism 2022 Exhibition (MAHA 2022) in Serdang, witnessed by YAB Dato’ Sri Ismail Sabri Yaakob, the Prime Minister of Malaysia, together with YB Datuk Seri Dr. Ronald Kiandee, the Minister of Agriculture and Food Industries (MAFI) and YB Dato’ Seri Azlan Man, Menteri Besar of Perlis.

The Conditional SHA was signed between Dato’ Mohd Nazrul Izam Mansor, Group Chief Executive Officer of FGV, Mr. Piet Hilarides, Chief Executive Officer of BALADNA, and YM Raja Dato’ Idris Raja Halid, Group Chief Executive Officer of TOUCH GROUP.

Also present among the guests of honour at the event were HE Fahad Mohammed Kafoud, Ambassador of the State of Qatar to Malaysia, YB Tan Sri Idris Jusoh, Chairman of FELDA, and Dato’ Dzulkifli Abd Wahab, Chairman of FGV along with representatives from the board and senior management of FGV, BALADNA, TOUCH GROUP and Northern Corridor Implementation Authority (NCIA).

“This joint venture will be a springboard for FGV to become one of the world’s leading integrated and sustainable agribusinesses. As an organisation which is already involved in the food industry, our latest venture into this integrated dairy farming business strongly positions us in a growing milk and dairy industry, thus strengthening our presence in the food industry,” said Dato’ Mohd Nazrul.

With an aim to strengthen the National Food Security Agenda, this project is also aligned with FGV’s long-term plan to position FGV Chuping Agro Valley (FCAV) as one of the leading agro-valley hubs in Malaysia, delivering sustainable value for its stakeholder and better living conditions to the local community as well as addressing food security concerns of the country, under the supervision of the NCIA. The establishment of the integrated dairy farming business is expected to create more than 2,000 job opportunities.

Expected to be commercially operational by 2025, the project aims to produce 100 million litres of fresh milk per annum within the first three years and is expected to reach 300 million litres of fresh milk in 10 years.

“Malaysia’s dairy market grew at a compounded annual growth rate (CAGR) of 4.5% from 2015 to 2020. The outlook for the dairy sector is positive, and FGV is optimistic that this strategic direction will support national goals to gain 50% self-sufficiency levels for liquid milk and 100% for fresh milk by 2028, doubling the production of fresh milk in Malaysia, reducing imports and providing fresh milk to consumers,” he added.

Based on the “grass to glass” concept, the joint venture will be fully integrated, operating from animal feed, milking cows and milk processing, to the sale, marketing and distribution of dairy related products, especially fresh milk.

Mr. Hilarides said, “As a partner, Baladna will use its extensive experience in fresh milk production and brand development to substantially improve Malaysia’s self-sufficiency in milk. We are delighted to be able to partner with FGV Holdings Berhad and Touch Group Holdings”

Prior to the economic blockade imposed on Qatar by neighbouring countries in 2017, Qatar was 90% import dependent. Today, Baladna is the largest dairy company in Qatar with over 250 SKUs and has achieved a remarkable 100% self-sufficiency for fresh milk in Qatar. 

TOUCH GROUP is a Malaysian holding company involved in various business activities including telecommunications, renewable energy, property management, agriculture, security services, hospitality, construction, tourism, F&B, and ICT.

“We hope that our participation in this joint venture would strengthen and add value to the composition of the shareholders of the joint venture, in line with the National Food Security Agenda,” said Raja Dato’ Idris.

The Conditional SHA is tied to several terms, among others, satisfactory results of the financial viability study on the project and the obtainment of respective approvals from the board of directors of the parties to proceed with the proposed investment in the project.

In August 2021, FGV announced its collaboration with FELCRA Berhad (FELCRA) and BALADNA to carry out a comprehensive feasibility and technical study on the opportunity to co-invest in an integrated dairy farm business. FELCRA’s board has decided to withdraw its participation in April 2022 due to its objectives to strengthen the Group by focusing on group-wide transformation initiatives and re-focusing its core before embarking on new business ventures.

ENDS

 

KUALA LUMPUR, 8 Ogos 2022 – FGV Holdings Berhad (FGV), melalui anak syarikatnya, FGV Integrated Farming Sdn Bhd (FGVIF), memeterai Perjanjian Usahasama Bersyarat (JVA) dengan Baladna for Trading and Investment W.L.L, anak syarikat BALADNA Q.P.S.C.(BALADNA), dan Touch Group Holdings Sdn Bhd (TOUCH GROUP) bagi pembangunan perniagaan ladang tenusu integrasi di Chuping, Perlis.

Perdana Menteri, YAB Dato’ Sri Ismail Sabri Yaakob bersama Menteri Pertanian dan Industri Makanan, YB Datuk Seri Dr. Ronald Kiandee, Menteri Besar Perlis, YB Dato’ Seri Azlan Man, Duta Besar Qatar ke Malaysia dan Ketua Eksekutif NCIA menyaksikan pertukaran dokumen Perjanjian Usahasama Bersyarat antara Ketua Pegawai Eksekutif Kumpulan FGV, Dato’ Mohd Nazrul Izam Mansor, Ketua Pegawai Eksekutif BALADNA, Encik Piet Hilarides dan YM Raja Dato’ Idris Raja Halid, Ketua Pegawai Eksekutif Kumpulan TOUCH GROUP pada Majlis Pelancaran MAHA 2022 di MAEPS Serdang, Selangor.

Pegangan saham dalam usahasama ini merangkumi FGVIF (40%), BALADNA (40%) dan TOUCH GROUP (20%). Projek ini akan dibangunkan di FGV Chuping Agro Valley (FCAV) dengan keluasan 3,259 hektar (8,053 ekar) dan dijangka membabitkan pelaburan sehingga RM 4.5 bilion.

Majlis menandatangani perjanjian ini diadakan di Pameran Pertanian, Hortikultur dan Agropelancongan Malaysia 2022 (MAHA 2022) di Serdang, disaksikan oleh YAB Dato’ Sri Ismail Sabri Yaakob, Perdana Menteri Malaysia bersama YB Datuk Seri Dr Ronald Kiandee, Menteri Pertanian dan Industri Makanan (MAFI) dan YB Dato’ Seri Azlan Man, Menteri Besar Perlis.

Perjanjian Usahasama ditandatangani oleh Dato’ Mohd Nazrul Izam Mansor, Ketua Pegawai Eksekutif Kumpulan FGV, Encik Piet Hilarides, Ketua Pegawai Eksekutif BALADNA, dan YM Raja Dato’ Idris Raja Halid, Ketua Pegawai Eksekutif Kumpulan TOUCH GROUP.

Turut hadir, TYT Fahad Mohammed Kafood, Duta Besar Qatar ke Malaysia, YB Tan Sri Idris Jusoh, Pengerusi FELDA dan Dato’ Dzulkifli Abd Wahab, Pengerusi FGV, bersama-sama wakil daripada lembaga pengarah dan pengurusan kanan FGV, BALADNA, TOUCH GROUP dan Pihak Berkuasa Pelaksanaan Koridor Utara (NCIA).

“Usahasama ini akan menjadi batu loncatan untuk FGV menjadi antara syarikat perniagaan tani bersepadu dan mampan terkemuka di dunia. Sebagai sebuah organisasi yang terlibat dalam industri makanan, usaha terbaharu kami akan ini memperkukuhkan lagi kedudukan FGV terutamanya dalam industri tenusu yang semakin berkembang,” kata Dato’ Mohd Nazrul.

Dengan matlamat untuk mengukuhkan agenda Sekuriti Makanan Negara, projek ini juga sejajar dengan rancangan jangka panjang FGV untuk menjadikan FGV Chuping Agro Valley (FCAV) sebagai hab agro-valley terkemuka di Malaysia, di bawah seliaan NCIA. Perniagaan ladang tenusu bersepadu ini juga akan mewujudkan lebih 2,000 peluang pekerjaan.

Projek ini dijangka beroperasi secara komersial menjelang 2025 dan menyasarkan untuk menghasilkan 100 juta liter susu segar setahun dalam tempoh 3 tahun pertama dan dijangka mencapai 300 juta liter susu segar dalam tempoh 10 tahun.

“Pasaran tenusu Malaysia berkembang pada kadar pertumbuhan terkumpul tahunan (CAGR) 4.5% antara 2015 hingga 2020. Unjuran sektor tenusu adalah positif dan FGV optimis, hala tuju strategik ini akan menyokong matlamat negara untuk mencapai tahap sara diri (SSL) 50% untuk susu cecair dan 100% untuk susu segar menjelang 2028, dengan menggandakan pengeluaran susu segar di Malaysia sekaligus mengurangkan import, dan menjamin khasiat minuman susu segar kepada rakyat Malaysia,” tambahnya.

Berdasarkan konsep “grass to glass”, usahasama itu akan disepadukan sepenuhnya, daripada makanan haiwan, pemerahan susu lembu, pemprosesan susu kepada jualan, pemasaran sehingga pengedaran produk berkaitan tenusu, terutamanya susu segar.

Encik Hilarides berkata, “Sebagai rakan usahasama, BALADNA akan berkongsi kepakaran dan teknologi menerusi usahasama ini untuk membantu meningkatkan tahap sara diri susu di Malaysia. Kami berbangga untuk berkerjasama dengan FGV Holdings Berhad dan Touch Group Holdings.”

Berikutan sekatan ekonomi yang dikenakan ke atas Qatar oleh negara jirannya pada 2017, Qatar bergantung 90% kepada import. Kini, BALADNA telah menjadi pembekal tenusu terbesar di Qatar dengan lebih 250 SKU dan telah mencapai 100% tahap sara diri untuk susu segar.

TOUCH GROUP merupakan syarikat induk Malaysia yang terlibat dalam pelbagai aktiviti perniagaan termasuk telekomunikasi, tenaga boleh diperbaharui, pengurusan hartanah, agrikultur, perkhidmatan keselamatan, hospitaliti, pembinaan, pelancongan, makanan dan minuman (F&B) dan ICT.

“Kami berharap dengan penyertaan kami dalam usahasama ini akan mengukuhkan dan menambah nilai kepada komposisi pihak berkepentingan, selaras dengan Agenda Sekuriti Makanan Negara,” kata Raja Dato’ Idris.

Usahasama Bersyarat ini tertakluk kepada beberapa syarat, antaranya hasil kajian kebolehlaksanaan komprehensif dan kajian teknikal projek yang memuaskan serta kelulusan daripada lembaga pengarah ketiga-tiga pihak untuk melaksanakan projek ini.

Pada Ogos 2021, FGV mengumumkan kerjasamanya dengan FELCRA Berhad (FELCRA) dan BALADNA untuk menjalankan kajian kebolehlaksanaan komprehensif dan teknikal terhadap peluang pelaburan bersama dalam perniagaan ladang tenusu bersepadu. Lembaga Pengarah FELCRA memutuskan untuk menarik diri daripada projek ini pada April 2022 kerana mahu mengukuhkan Kumpulan dengan memberi fokus pada inisiatif transformasi kumpulan secara meluas, dan memfokuskan semula terasnya sebelum meneroka usaha niaga baharu.

 TAMAT

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