Tuesday, 24 April 2012

Three-A up 8% on JV with Wilmar

KUALA LUMPUR (April 24) : THREE-A RESOURCES BHD [] shares climbed as much 8% on updates that the firm’s collaboration with Singapore-listed Wilmar International Ltd to establish a food ingredient factory in China is taking shape.

Three-A shares rose nine sen to RM1.29 before trading lower at RM1.27 at 11.30am with some 1.5 million shares done.

Datuk Mohd Nor Abdul Wahid who is Three-A’s chairman recently said the food ingredient factory in China is expected to begin production this month. He said the factory will produce ingredients like hydrolysed vegetable protein, a food flavour enhancer.

Malaysia’s PPB GROUP BHD [] owns 18.32% of Wilmar.

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