Leong Hup buys into Indonesia's Malindo

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Leong Hup buys into Indonesia's Malindo

Business & Market 2010

Written by Isabelle Francis

Thursday, 18 February 2010 20:39

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KUALA LUMPUR: Leong Hup Holdings Bhd (LHH) has proposed to acquire a 1.3% stake in Indonesia's PT Malindo Feedmill Tbk for 3.9 billion rupiah (RM1.46 million).

LHH told Bursa Malaysia today that Malindo, which produces and trades animal feed and commercial day-old chicks, had been giving consistent dividends.

It said there was potential growth in Malindo as chicken consumption in Indonesia was still low at about 5kg per capita versus Malaysia's 38kg per capita.

LHH said the acquisition is expected to be completed within a week.

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Last Updated on Thursday, 18 February 2010 21:36

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