Rhone Ma, Kulim enter JV for dairy project

TheStar Thu, Sep 23, 2021 09:10am - 1 year View Original

“The joint venture will allow Rhone Ma to expand the footprint of its dairy farming business in the southern region of Peninsular Malaysia whilst leveraging on the financial resources of Kulim,” said Rhone Ma.

KUALA LUMPUR: Rhone Ma Holdings Bhd’s 49%-owned subsidiary A2 Fresh Sdn Bhd has entered into a joint venture-cum-shareholders agreement with Kulim (M) Bhd to develop, operate and manage a potential dairy project.

It said in a filing with Bursa Malaysia that Kulim would hold a 65% equity interest in the joint venture while A2 Fresh would own the remaining 35%.

The parties estimated that the initial investment requirement for the dairy project would be up to RM41.39mil, excluding the milk processing plant, which will be funded through equity in the form of subscription of shares by the shareholders.


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