| KUALA LUMPUR, March 22
KUALA LUMPUR, March 22 Felda Global Ventures
Holdings Bhd, a Malaysian palm plantation operator, is
in talks with several companies, including Chinese firms, to
establish partnerships to expand its distribution networks and
Felda Global Chief Executive Officer Zakaria Arshad told
Reuters on Wednesday that the company was looking for a
partnership rather than investors, without naming any company.
A local Malaysian newspaper reported on Monday that
state-run China National Cereals, Oils and Foodstuffs
Corporation (COFCO) and Malaysian business tycoon Syed Mokhtar
Albukhary were keen on buying stakes in Felda Global. The
company's shares soared 14 percent following the report.
"We are looking for a business partner for a long term
partnership. However if this partner wants to buy a stake in the
open market, there is nothing I can do," Zakaria said.
He said the Felda Global was "currently talking to a few
Chinese companies" but that he was also eyeing India, Middle
East and North Africa.
A partnership is expected to be finalised in the next one to
two months, he said.
Felda Global Ventures, the world's third-largest palm
plantation operator, has lost about 60 percent of its value
since it listed on the Malaysian stock market in 2012.
Zakaria said he is looking for ways to improve the
profitability of the company's products through a partnership.
"We are seeing how we can distribute products, how we are
going to establish facilities in the consumers' country," said
"We want them (partners) to input money, to build tanks for
example. We want to invest and grow together," he said.
(Editing by A.Ananthalakshmi and Christian Schmollinger)