PT Resources calls for trading halt, announces new coconut processing facility in China
KUALA LUMPUR: Trading of ACE Market-listed PT Resources Holdings Bhd (PTRB) shares was halted for one hour today, from 9.00 am to 10.00 am, following the announcement of a new coconut processing facility in China.
In a separate filing with Bursa Malaysia, PTRB stated that the facility will be established under its wholly-owned subsidiary, Fujian HJS International Holdings Co Ltd.
The facility is located in the China-Indonesia Food Industrial Park in Fuqing City, Fujian Province, China.
PTRB, which is primarily involved in the processing and trading of frozen seafood, as well as the trading of meat and non-meat products, is now expanding its food processing capabilities to include coconut-based products.
The group is investing approximately RM17 million (RMB29 million) in the new facility, with the investment fully funded through internally generated funds.
PTRB managing director Heng Chang Hooi said the company is actively exploring business-to-business collaborations with Chinese distributors and manufacturers.
He said these include opportunities for private-label production and original equipment manufacturer (OEM) services as part of its localisation strategy.
"We also aim to leverage Fujian's export infrastructure to access ASEAN markets and will participate in trade exhibitions such as the China Food and Drinks Fair," he said.
Trial production at the coconut processing facility is currently underway, with commercial operations expected to commence by mid-June 2025.
As of 10.47 am, PTRB shares were trading flat at 33 sen, with 10,000 shares changing hands.
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