MPOB Palmnews
 
Date
 09/06/2003
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 Bernama
Headline
 Two Malaysian Companies To Invest In India In Bulk

NEW DELHI, June 5 (Bernama) -- Two Malaysian companies will invest inIndia for carrying on the business of bulk import of RBD palmolein and tomarket it.

One of the companies, Felcra Bhd, will collaborate with Felcra CommoditiesIndia Pvt. Ltd to carry on the business of bulk import of RBD palmoleinand its wholesale trading and bulk sales only to industrial andinstitutional customers and wholesale distributors.

The Malaysian company will invest Rs.36 million (about US$765,950) in theIndian company, amounting to 75 percent of its total equity.

The location of the company would be Greater Mumbai.

The other company, Felds Palm Industrial Sdn Bhd will collaborate with IVPLimited, also of Mumbai, to carry on inter alia the business of importing,trading, marketing and selling palm oils, its fractions and products.

The Malaysian company will invest Rs.4.50 million in Ipv Ltd, amounting to30 percent of the equity of IPV, which will also be located in GreaterMumbai.

The investment proposals were approved by the Government of India inDecember 2002, according to the latest bulletin of the India InvestmentCentre of the Ministry of Finance. -- BERNAMA