11 June 2012
Felda Global Ventures Holdings Bhd (FGV) is looking at spending another C$30 million (RM92.8 million) to C$40 million (RM123.7 million) to upgrade the port facilities for its canola business in Canada
Felda Global Ventures Holdings Bhd (FGV), en route to a listing on Bursa Malaysia this month, is set to expand Malaysia's investment footprint in Canada this year via increased investments in the canola business.
Canadian High Commisioner to Malaysia Randolph Mank said FGV's Canada-based unit - Twin Rivers Technologies-Enterprises de Transformation Graines Oleagineuses du Qubec (TRT-ETGO) is looking at spending another C$30 million (RM92.8 million) to C$40 million (RM123.7 million).
Twin Rivers had initially invested C$250 million in the business.
"The expansion of the company's operations is meant to upgrade the port facilities so they can get products out of the port faster to its (export) markets," he told Business Times during a recent visit to Penang.
FGV has a RM760 million canola processing facility in Becantour, Quebec.
Twin Rivers is a canola seed and soyabean crushing plant with palm oil blending capabilities for both types of oil.
Mank said the Canadian government is both pleased and welcoming of this reinvestment by FGV, which reflects a maturing Malaysian economy, where local firms are now looking outward and investing in countries like Canada.
Mank said that a Canadian aircraft maker is currently in talks with a state government over the sale of two of its "Twin Otter" planes.
He did not divulge the name of the plane maker nor the government authority in question, except to say that the prospective buyer is looking at boosting its current fleet of aircraft with new-generation planes.
A check on the web revealed that the Canadian-made 19-seater DHC Twin Otter planes are currently used in Malaysia by MASWings, a subsidiary of Malaysia Airlines, and Sabah Air.
Mank also said that Bell Helicopters is looking to make a comeback into Malaysia and that Canada is keen for bilateral ties with Malaysia, to intensify investments in sectors such as oil and gas, energy, aviation and agriculture.
"We would like to see access for Canadian beef and pork into Malaysia, and an increased presence of some 1,500 Malaysia students in Canada," he noted.
"The annual Canadian Education Fair which is traditionally held in cities like Kuala Lumpur and Kota Kinabalu, will be extended to Penang early next year," Mank added.