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Article: Hap Seng to spend more on downstream activities, BUSINESS TIMES
- Article from:
- Business Times (Malaysia)
- Article date:
- June 29, 2001
- Author:
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Maisara Ismail
Business Times (Malaysia)
06-29-2001
CASH-RICH conglomerate Hap Seng Consolidated Bhd is planning to reinvest
a good portion of its funds to expand downstream palm oil activity, in
a step to become a fully integrated palm oil manufacturing company.
Chief executive John Madsen said the firm's eventual aim is to expand
from its current core activity of operating palm oil plantations to cover
all aspects of palm oil production.
Speaking to the media at the company's annual general meeting
yesterday, he said this includes refinery activity, manufacturing palm
oil related products, packaging as well as distribution.
"We are trying to eliminate the enormous swing in profit dependent on
...