KUALA LUMPUR: FGV Holdings Bhd has clarified that the plantation firm is exploring potential collaborations including strategic alliances in the palm and sugar industries.
FGV was responding to a report saying that the firm has been in talks to sell part of its stake in MSM Malaysia Holdings Bhd to international sugar players.
“FGV has stated in previous communications that the group is working on its transformation plan which includes reviewing all underperforming and non-performing businesses, especially the group’s legacy investments,” it said in a filing to Bursa Malaysia.
There are several initiatives that are ongoing and are at various stages of review and implementation, it added.
Since MSM’s Johor refinery came onstream in 2019, FGV said MSM’s total refining capacity increased to 2.2 million tonnes, enabling the company to serve both its domestic requirements and seek new opportunities in export markets.
As such, FGV and MSM are exploring all avenues to successfully enter regional and international markets, it added.
“Discussions are still at a preliminary stage. FGV and MSM will make the relevant announcements at the appropriate time in the event of material developments on this matter.”