Felda Global Ventures Holdings Bhd., a Malaysian rubber plantation firm announced that it has signed a memorandum of understanding with Pho La Min Trading Ltd. from Myanmar, to develop rubber plantations and latex-processing firms in Myanmar.
The agreement is part of Felda Global’s ambitious drive to increase the plantation area in Southeast Asia and Africa in the wake of its June $3.1 billion initial public offering.
This memorandum of agreements is part of Felda Global’s aim to improve the rubber plantation area in Southeast Asia and Africa after it has given an initial public offering of worth US$ 3.1 billion.
Included in the memorandum of agreement is the initial plan of establishing 30,000 hectares of rubber plantation, but no more details have been announced. Felda Global Chief Executive Sabri Ahmad didn’t immediately respond to phone calls.
Myanmar over the past year begun emerging from years of international isolation following a series of reforms. (PRA)