PPB Group Bhd plans to expand its grains and agribusiness segment especially its flour milling capacity in Malaysia and other countries in the region.
Its Managing Director Lim Soon Huat said the expansion in the core business will contribute to the profitability of PPB Group, which is expected to perform well in 2021.
The group is in the midst of constructing a new wheat flour mill in Quang Ninh Province in Vietnam which will be completed by 3rd quarter 2021 and has the capacity to produce 500 tonnes per day. Lim said, “Vietnam is a growing market and we are also looking into other countries in the region to expand our grain and agribusiness segment.”
He said this segment is expected to weather the volatile commodities market and to ride on its strong technical competency, extensive marketing and distribution network, as well as in-depth procurement experience.
PPB Group, one of Malaysia’s largest flour millers, recorded a sales turnover of RM3.29 billion (US$800 million) for financial year 2020, slightly lower than its previous year’s figure.