Malayan Flour Mills allocates RM215mil capex for FY25
Of the total, the company will channel RM160 million to its poultry integration segment, with RM100 million earmarked for expanding and upgrading farming infrastructure, including the construction of parent farms and hatcheries, said executive deputy chairman and managing director Teh Wee Chye.
The remaining RM60 million will go towards improvement works at existing farms to boost productivity and supply chain efficiency, he said.
The RM160 million investment will be jointly funded by MFM and its partner in a 51:49 ratio.
In May 2021, MFM formed a joint venture with meat processor and marketer Tyson Foods for its poultry segment. The partnership leverages Tyson's global network, proprietary technology and market reputation to increase sales, access export markets and improve operational efficiency.
Meanwhile, the flour and grain trading segment will invest RM55 million to expand capacity and improve efficiency across key markets in Malaysia and Vietnam.
"This includes RM20 million for automation at our flour mills in Lumut and Pasir Gudang to reduce manual labour, enhance efficiency and ensure consistent product quality,' Teh said at a press conference after the group's 65th annual general meeting today.
In Vietnam, Teh said the company will invest RM34 million to scale operations. Of this, RM21 million will go towards expanding capacity and upgrading its northern Vietnam plant, while RM13 million is allocated for building flour silos and blending facilities in the southern region.
"These strategies enable us to meet the growing demand for flour and flour-related products in both Malaysia and Vietnam,' he added.
Commenting on the price-fixing investigation involving its joint venture company, Dindings Poultry Development Centre Sdn Bhd, MFM chief financial officer Alan Yau Tee Peng said the hearing has started but remains ongoing.
"The next session is scheduled for end-June. We will go through the process and await the tribunal's decision,' he said.
Yau said the matter is still at an early stage, adding: "We believe we have not committed any of the alleged violations made by the Malaysia Competition Commission (MyCC), and we stand by our position.'
"Even in the worst-case scenario, we strongly believe the RM70 million fine is erroneous,' he added.
MFM has completed a state-of-the-art poultry processing plant with a slaughtering capacity of 280,000 birds per day, expandable to 340,000 birds.
Its processed poultry products are sold under the Ayam Dindings, Ayam Fiesta, Jimat Fiesta and DeliHous brands. - Bernama
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