PRG to explore China’s halal market with Felcra products

PETALING JAYA: PRG Holdings Bhd’s unit has signed a memorandum of understanding (MoU) with a unit under Felcra Bhd and China’s Overseas Investment Union (OIU) to explore opportunities in the halal market there.

OIU was set up by The Investment Association of China in 2012 with the aim of attracting Chinese enterprises which intend to develop overseas affairs and improve the core competitiveness of local companies by introducing advanced technology from the outside world.

In a filing with Bursa Malaysia, PRG’s board of directors said its unit Premier International Marketing Sdn Bhd and Felcra’s Felcra International Venture Private Limited (FIV) would work together to market and penetrate halal products owned by FIV’s subsidiary Felcra Livestock and Agri Product Sdn Bhd (FLAP) into the Chinese halal market.

“The MoU and collaboration contemplating therein will serve as a platform for the PRG Group to tap business opportunities and investment into the halal market of the People’s Republic of China. This will also diversify the revenue stream of PRG Group,” its board said.

The MoU will be valid for a year.

FIV was incorporated by Felcra to operate, manage and conduct any international business and investment with FLAP, another wholly owned subsidiary of the group which is in the inter alia, trading, marketing and sales of halal products business.