KUALA LUMPUR: Koperasi Permodalan Felda Malaysia Bhd's (KPFM) unit has proposed to take up a 60% stake in a joint venture company with SILVER BIRD GROUP BHD [], which would effectively give it more control to buy and collect essential agriculture-based foods from all sources including Felda settlers.
Silver Bird said on Tuesday, April 26 the special purpose company Consortium Fresh Food Quality Bhd (CFFQ) would see KPFM's unit KPF Holdings Sdn Bhd increasing its stake to 60% from the previous 49%.
As for Silver Bird, its unit Stanson Marketing Sdn Bhd would increase its shareholding to 30% from 20% while the shareholding structure of other Bumiputera investors was reduced to 10% from the earlier 31%.
'The company has agreed to the revised structure and will proceed to finalise the joint venture agreement which requires the approval of the Suruhanjaya Koperasi Malaysia,' said Silver Bird.
On Aug 16, 2010, Stanson Marketing signed an MoU with KPF Holdings to establish a strategic partnership using CFFQ to buy and collect essential agriculture-based foods from all sources including Felda settlers and other farmers and thereafter to deliver the essential agriculture-based foods to designated regional hubs including the national food warehouse for processing and packaging.
Under the plan, Stanson Marketing would be appointed CFFQ's exclusive distributor for sale of the products. This would maximise the utilisation of Stanson Marketing's existing distribution assets.
The warehouse was established by the government within Felda to ensure a steady and uninterrupted supply of essential agriculture-based foods throughout the nation.
GMN was established by the government within Felda to ensure a steady and uninterrupted supply of essential agriculture-based foods throughout the nation.
Silver Bird said on Tuesday, April 26 the special purpose company Consortium Fresh Food Quality Bhd (CFFQ) would see KPFM's unit KPF Holdings Sdn Bhd increasing its stake to 60% from the previous 49%.
As for Silver Bird, its unit Stanson Marketing Sdn Bhd would increase its shareholding to 30% from 20% while the shareholding structure of other Bumiputera investors was reduced to 10% from the earlier 31%.
'The company has agreed to the revised structure and will proceed to finalise the joint venture agreement which requires the approval of the Suruhanjaya Koperasi Malaysia,' said Silver Bird.
On Aug 16, 2010, Stanson Marketing signed an MoU with KPF Holdings to establish a strategic partnership using CFFQ to buy and collect essential agriculture-based foods from all sources including Felda settlers and other farmers and thereafter to deliver the essential agriculture-based foods to designated regional hubs including the national food warehouse for processing and packaging.
Under the plan, Stanson Marketing would be appointed CFFQ's exclusive distributor for sale of the products. This would maximise the utilisation of Stanson Marketing's existing distribution assets.
The warehouse was established by the government within Felda to ensure a steady and uninterrupted supply of essential agriculture-based foods throughout the nation.
GMN was established by the government within Felda to ensure a steady and uninterrupted supply of essential agriculture-based foods throughout the nation.
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