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The Star
3 hours ago
- Business
- The Star
PT Resources invests RM17mil in China coconut processing plant
PETALING JAYA: PT Resources Holdings Bhd , a processor and trader of frozen seafood products, has established a coconut processing facility through an investment of RM17mil in the designated special economic zone known as China-Indonesia Food Industrial Park located in Fuqing, China as part of the move to broaden the company's food-processing capabilities. The new facility, which will start operations by the middle of this month, will produce a wide range of value-added products such as frozen coconut water, frozen coconut milk, desiccated coconut and other derivatives, capturing the complete potential of the coconut fruit. PT Resources managing director Heng Chang Hooi said in a statement: 'We are optimistic about the growing demand for coconut-based products in China, supported by its large population of 1.4 billion, rising interest for plant-based diets, and increasing demand for dairy alternatives. 'The popularity of coconut milk in coffee chains and specialty beverage outlets reflects this trend'. The facility would initially focus on supplying frozen and dried coconut products to business-to-business (B2B) customers such as food and beverage (F&B) manufacturers within Fujian province and nearby regions, as the province, a key importer and processor of mature coconuts, serves a wide network of F&B manufacturers within a 700-km radius. Heng said the company 'is actively exploring B2B collaborations with Chinese distributors and manufacturers, including opportunities for private-label production and OEM services as part of our localisation strategy. 'We also aim to leverage on Fujian's export infrastructure to access Asean markets and will participate in trade exhibitions such as the China Food and Drinks Fair.' He added that the company 'is also in the process of securing consistent supplies of mature coconuts from Indonesia – one of the world's leading coconut producers. 'These arrangements will ensure a steady supply of coconuts to meet the anticipated demand'.
New Straits Times
21 hours ago
- Business
- New Straits Times
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.
The Star
21 hours ago
- Business
- The Star
ACE Market-listed PTRB invests RM17mil in China coconut facility
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. -- BERNAMA TAGS: PTRB, ACE market, corporate
