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PS Food & Beverage eyes joint venture in Indonesia

Last update: 30/07/2019
By Wan Nadia Khairani Wan Chik & Joan Santani

KUALA LUMPUR, July 30 (Bernama) -- PS Food & Beverage Sdn Bhd, a company within the Malaysian Technology Development Corporation ecosystem, plans to venture into the Indonesian market, including setting up a factory there.

The company signed a memorandum of understanding (MoU) with Indonesia's PT Margarana Dream City yesterday to explore a joint-venture framework for the sales and distribution of its beverage products as well as for establishing the factory with a projected investment of US$3 million (RM12.4 million).

The two companies are expected to have a symbiotic relationship whereby PS Food & Beverage's Origina beverages will be sold and distributed in the republic by the Indonesian partner while agricultural products produced by Tani Nelayan Indonesia (TNI), an organisation under PT Margarana Dream City, will be used to make the beverages.

PS Food & Beverage managing director Mohd Zain Harun said for starters, Origina products produced at its factory in Selangor would be exported to Indonesia. This is planned to begin in the fourth quarter of this year.

“This is the first time we are venturing into Indonesia, not only as a supplier but also by eventually setting up a factory there. Hence we will share our expertise in packaging, production and processing (with our joint-venture partner). In return, we will source part of the raw materials such as juice, concentrate and paste from PT Margarana Dream City for use in our beverage products.

“The first batch of our beverage products, worth about RM1.2 million, will be exported to Indonesia in October,” he told a press conference after the MoU signing ceremony here yesterday, which was witnessed by MTDC chief executive officer Datuk Norhalim Yunus and Dewan Koperasi Indonesia trade development and corporate affairs consulate's representative Datuk Yassir Farid Abd Rahman.

According to Mohd Zain, the company currently exports its products to China, Vietnam, Singapore and Brunei.

Meanwhile, PT Margarana Dream City chief executive officer Nanang Iskandar said apart from distributing and marketing Origina products in Indonesia, his company would also import the retort packaging technology that produced strong and environmentally-friendly packaging for the beverages.

“As there is a demand for it in Indonesia, we will import this kind of packaging material. It is something new (in the country). At the same time, its environmentally-friendly nature will assist in curbing plastic waste disposal, which is a major environmental issue today,” he said.

He added that the setting up of the Origina factory in Indonesia was expected to create jobs for the country's farmers.

PT Margarana Dream City is involved in several industries in Indonesia, including property development, construction and development of an agriculture organisation called TNI.

Norhalim, meanwhile, said symbiotic partnerships as well as technology sharing among ASEAN industry players would help boost the regional economy.

-- BERNAMA





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