InfoSAWIT, SINGAPURA – Based on Wilmar International Limited (Wilmar), its subsidiary, Wilmar Kuantan Edible Oils Sdn. Bhd., has signed the agreement with Cargill Palm Plantation Sdn. Bhd. (Cargill), to purchase vegetable oil facility of Cargill in Kuantan, Malaysia.
The purchase agreement, according to the official statement got by InfoSAWIT, Monday (20/11), are the palm oil refinery and storage facility nearby. The selling would be finished after getting the agreement from every authority and the conditions have been accomplished. The substitution of ownership would be finished by the end of 2018.
Wilmar’s Country Head of Malaysia, Yee Chek Toong, said, the acquisition of vegetable facility in Kuantan means that for the first time, Wilmar operates in the east coast of Semenanjung Malaysia. “The facility is the same with our drill business and would strengthen the selling and distribution in Malaysia. Besides the local markets, the strategic location of the factory in Kuantan Port is the good thing to export,” he said.
Managing Director of Cargill’s Palm Oil Business in Malaysia, Chai Wei-Joo, said, though the company has decided to sell the strategic business in Kuantan, Cargill still commits to vegetable oil business in Malaysia. “And would operate the two other facilities, they are, in Port Klang and Westport," he said. (T2)