"We still have a few things to sort out with the authorities, the Economic Planning Unit," Tradewinds group managing director Bakry Hamzah said.
The acquisition of Mardec provides a strategic fit to the group's plans to expand its rubber activities downstream, into the processing and marketing of rubber products.
On October 2009, Prisma Spektra Sdn Bhd, a wholly owned subsidiary of Tradewinds Plantation entered into an agreement with Semi Bayu Sdn Bhd to buy out its shares in Mardec for RM150 million.
Meanwhile, Tradewinds is yet to quantify the amount of savings it will be able to record, with the integration of the distribution and warehousing of sugar and rice.
"We just completed the acquisition, and are now in the process of reorganising the logistic side of things. There is bound to be savings, but we are not able to quantify it now," Tradewinds Plantation Bhd chief executive officer Chan Seng Fatt said.
Tradewinds completed the acquisition of Padiberas Nasional Bhd (Bernas) in January 2010.
On plans to pare down its stake in Bernas, Tradewinds chairman Datuk Wira Syed Abdul Jabbar Shahabudin said it would be a matter of timing and will be done in the interest of repaying its loans.
On whether the group plans to grow its land bank, Bakry said the strategy is to focus on the planting of existing land.
-- by Business Times
No comments:
Post a Comment