DBE to supply poultry products to Japan’s GDJ

PETALING JAYA: Poultry company D.B.E. Gurney Resources Bhd (DBE) has entered a memorandum of understanding (MOU) with Japan's G.D.J. Co. Ltd (GDJ) for the supply of poultry products.

In a filing with Bursa Malaysia, the group said its wholly-owned subsidiary D.B.E. Poultry Sdn Bhd has entered into the MOU with GDJ and both parties are expected to enter into a formal supplier agreement once the terms and conditions are finalised.

"The MOU if formalised into definitive supplier agreement later, is expected to continue to generate about RM10 million in turnover with an assured margin to DBE Group for the next financial year ending Dec 31, 2017. This augurs well with DBE's intention to increase its market share locally and sustain its business competitiveness," it said.

The poultry products that DBE will supply to GDJ includes leg meat yakitori, gizzard yakitori and tail yakitori. The group expects positive contribution from the poultry division on its earnings in the future.

DBE's share price dipped 14.29% to close at 3 sen, with a total of 1.53 million shares traded. Its market capitalisation stood at RM48.30 million.