Wednesday, 9 May 2012

Felda Global bolsters downstream portfolio ahead of IPO

KUALA LUMPUR (May 9): Main Board-bound Felda Global Ventures Holdings Bhd (FGVH) is bolstering its downstream portfolio ahead of its IPO next month with the launch of new consumer branded products.

The group's downstream arm Delima Oil Products Sdn Bhd. -- a subsidiary of FGVH's 49%-owned Felda Global Holdings -- expects over RM1 bilion turnover from newly launched range of bread spread products marketed under SunBear brand, the company said in a statement on Wednesday.

Delima Oil CEO Zakaria Arshad did not gave a time frame for the expected sales but said some RM3 million had been invested in the new products -- peanut butter, peanut spreads and chocolate spreads -- which will soon be available at over 7000 outlets including hypermarkets and supermarkets nationwide. The earmarked amount includes production, advertising and promotion costs.

"The launch of our latest SunBear products is testimony of the company's on-going efforts to add variety to our product offerings beyond cooking oil and palm olein products, in line with consumer needs," Zakaria said in the statement. The group will continue to leverage on its distribution reach and build on its brand value, he added.

Delima Oil's existing porfolio includes Saji cooking oil, the market leader with 27% share of the olein segment, it said. It also produces and markets Tiara and Tiga Udang cooking oil. Other products include Seri Pelangi margarines.

In May last year, Delima Oil introduced four products under the Saji brand: mayonnaise, condensed milk, evaporated milk and instant noodles.

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