KUALA LUMPUR: PLS LESB Sdn Bhd, a 49 per cent associate company of PLS Plantations Bhd, has signed a memorandum of understanding (MoU) with Guangzhou Jiangnan Agricultural Development Co Ltd to collaborate towards the proposed food security initiatives of the Malaysian government.
The strategic partnership intends to cover a wide range of agriculture projects, including but not limited to durian farming and other cash crops, aquaculture and animal farming, downstream projects such as crop harvesting and collection, development of factory and processing facilities as well as offtake services.
Established in 1994, Jiangnan Group has an area 400,000 square metres which has developed into the largest fruit and vegetable wholesale market in southern China and the largest fruit and vegetable distribution centre in Southeast Asia.
As of 2022, the Jiangnan Group has achieved a total annual sales transaction volume of up to 50 billion yuan (RM32 billion).
“The strategic partnership aims to leverage Jiangnan’s substantial expertise and proven track record in upstream and downstream operations and factory production,” Jiangnan founder Ye Canjiang said in a statement today.
Meanwhile, PLS Plantation group chief executive officer Lee Hun Kheng said the partnership with Jiangnan significantly aligns with its ambition of becoming a leading sustainable agrifood company that integrates both upstream and downstream agro-development.
“This alliance will position PLS to optimise its distribution of agri and agro products, which is a crucial step towards sustainable operations,” he added. – Bernama