MFM’s Dindings Tyson to allocate RM135m for poultry business
17 Apr 2023
Malayan Flour Mills Bhd’s (MFM) via its 51%-owned joint-venture (JV) company Dindings Tyson Sdn Bhd (DTSB) has allocated about RM135 million for its poultry integration business.
According to its 2022 annual report released on Monday (April 17), DTSB will invest further to meet and support the continued demand for its poultry products in Malaysia.
“We have budgeted no less than RM135 million for the business in the financial year ending Dec 31, 2023 (FY23),” it said.
The country’s second largest flour miller said that the investment is earmarked to improve the wastewater treatment facility, embark on phase two of its rendering plant, and set up a new further processing plant.
“At the same time, we will upgrade the primary processing plant and machinery to increase the slaughtering capacity to 340,000 birds per day, from the current 280,000 birds per day.
“The upgrading of auto-cutting and deboning lines positions us favourably to serve the increasing demand for these products from our food manufacturing clients,” it added.
At noon break, shares in MFM were unchanged at 75 sen, giving it a market capitalisation of RM765.74 million.
Source: The Edge Markets