Wednesday, 9 May 2012

Malayan Flour Mills allocates RM120m to expand Malaysian ops over the next two years

KUALA LUMPUR (May 9) : MALAYAN FLOUR MILLS BHD [] (MFM) is allocating some RM120 million to expand its flour factory and poultry operations in Malaysia over the next two years.

Managing director Teh Wee Chye said the capital expenditure will be financed with the firm's internal funds and bank loans.

"We need to increase efficiency in our operations," Teh said at the company's shareholders meeting here today.

MFM has also earmarked USD15 million to expand its two flour factories in Vietnam, he said.

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