KUALA LUMPUR, Feb 11 — Malayan Flour Mills Bhd (MFM) will increase its halal poultry product offerings in the country, especially in the further processed poultry segment, as well as exporting to demand markets via its partnership with a United States-based company Tyson Foods, Inc.
MFM managing director Teh Wee Chye said the company partnered with Tyson Foods, following the food industry operator's acquisition of 49 per cent stake in MFM, which will allow it to invest here and add more supply flexibility for both companies.
The transaction is subject to approval by the shareholders of MFM.
“Tyson Foods is one of the world’s largest food production companies with a strong global manufacturing and distribution footprint. Malaysia is one of the key poultry markets in Southeast Asia, with a high per capita consumption of poultry,” he said in a statement that was shared with Bursa Malaysia on Thursday.
Quoting the Halal Industry Development Corporation, Teh said Malaysia’s halal industry market value is expected to reach US$147.4 billion (RM614.36 billion) by 2025 and the country exports about US$9 billion (RM35.4 billion) in halal-certified products.
Meanwhile, Tan Sun, president of Tyson Foods Asia Pacific said Tyson Foods’ global resources and robust innovation capabilities paired with MFM’s more than 30 years of expertise as a leading poultry player in the country would enable both companies to make halal-certified products more readily available and affordable.
“The MFM’s gold standard in halal-certified poultry products complements Tyson Foods’ Malaysia business, which is also recognised as a leader in the country’s halal food industry,” he said.
Tyson Foods is one of the world’s largest food companies and a recognised leader in protein.
Established in 1961, MFM is the pioneer in the flour milling industry in Malaysia.
At 10.11 am, shares of MFM declined 1.50 per cent to 98 sen.
— Bernama
