KUALA LUMPUR, July 24 — FGV Holdings Bhd will partner with more small and medium enterprise distributors in an effort to expand its animal feed and animal nutrition business as well as penetrate the market nationwide more effectively.
Group chief executive officer Datuk Haris Fadzilah Hassan said it planned to double the number of distributors by the end of the year.
“With the encouraging growth in distributor partnerships, FGV is confident the (animal feed) sales volume target of 50,000 metric tonnes (MT) this year can be achieved,” he said in a statement today.
Year-to-date, it has inked agreements with seven distributors, including My Agro Hub Resources which was appointed just this week to market an estimated of 30 MT of formulated animal feed every month, for dairy cattle, beef cattle and goat farmers in Negeri Sembilan and Melaka.
According to Haris Fadzilah, My Agro Hub will also be among the first few farms to test FGV-formulated goat feed, which will be launched soon.
Earlier in the year, FGV signed agreements with six distributors in the states of Pahang, Kelantan, Selangor and Kedah, and it intends to include distributors from other states in Peninsular Malaysia.
Haris Fadzilah said under the integrated farming sector, animal nutrition and protein had been identified as an increasingly important revenue stream for the group.
“With the abundance of raw materials coming from our palm oil plantations and mills, we can produce up to 400,000 MT of highly nutritious animal feed every year,” he said.
He said internal sourcing of palm kernel expeller as one of the ingredients for FGV’s animal feed was very important to ensure these feeds were manufactured to high standards to safeguard the quality and health of the livestock.
“Internal sourcing of the ingredient is also very important for traceability, which is a key feature of our products,” he added.
In a separate development, FGV announced to Bursa Malaysia today that the Minister of Finance (Inc), being the special shareholder of the company, had extended Datuk Wira Azhar Abdul Hamid’s tenure as FGV’s government appointed director and chairman of the board of directors effective Sept 8, 2020.
Azhar was appointed as chairman on Sept 11, 2017. — Bernama