KUALA LUMPUR: Malayan Flour Mills (MFM) Bhd plans to invest about RM140 million this year to increase its flour milling and raw material storage capacity in its Malaysia and Vietnam plants.
MFM managing director Teh Wee Chye said on Tuesday, May 24 the investment would "substantially" increase the group's production capacity as it sees prospects for growing consumption of flour and flour-related products.
According to the company's annual report, MFM currently has an annual milling capacity of more than 500,000 tonnes of wheat.
This comes as MFM's competitor, PPB GROUP BHD [], announced in March that it intends to set aside about RM140 million to double its flour milling capacity in Indonesia and Vietnam.
Teh also said MFM was looking at possible Asean countries to expand but declined to name specific countries, saying the plans were still at a preliminary stage.
MFM managing director Teh Wee Chye said on Tuesday, May 24 the investment would "substantially" increase the group's production capacity as it sees prospects for growing consumption of flour and flour-related products.
According to the company's annual report, MFM currently has an annual milling capacity of more than 500,000 tonnes of wheat.
This comes as MFM's competitor, PPB GROUP BHD [], announced in March that it intends to set aside about RM140 million to double its flour milling capacity in Indonesia and Vietnam.
Teh also said MFM was looking at possible Asean countries to expand but declined to name specific countries, saying the plans were still at a preliminary stage.
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