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Kuantan Flour Mills inks MoU with China import-export group

The Edge logoThe Edge 9/2/2018 Neily Syafiqah Eusoff
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KUALA LUMPUR (Feb 9): Kuantan Flour Mills Bhd (KFM) has inked a Memorandum of Understanding (MoU) with Shou Guang Chang Tai Economic And Trade Co Ltd (SGCT) to facilitate an expansion of the group’s starch and premix flour trade in China.

Based in Shouguang City, Shandong province, SGCT is principally involved in the trading and retailing of corn, tapioca and food-related products.

SGCT has established a stable import and export business with trading partners within China and Southeast Asian countries.

“The MoU is pertaining to a proposed collaboration through either a business collaboration arrangement between both parties or a direct acquisition of a majority equity interest in SGCT by KFM,” KFM said in the filing with Bursa Malaysia today.

The MoU can be terminated in the event both parties are unable to execute the definitive agreement within a period of six months, it added.  

KFM’s share price closed unchanged at 13 sen today, giving it a market capitalisation of RM8.87 million. Over the past 12 months, the counter has fallen by 27.78%.

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