Wilmar

Wilmar: To set up JV with Glowland Limited, 80% owned subsidiary of PPB Group Berhad. The JV will be called VFM-Wilmar Flour Mills Co Ltd and will carry out the business of wheat flour milling and the sale of flour, flour-based products and by-products. Wilmar will own 49% and Glowland, 51% of VFM-Wilmar. Wilmar will pay US$5.0m for its equity stake and US$12.5m in capex, through internal funds or borrowings.