KUALA LUMPUR (Aug 14): Harn Len Corporation Bhd has inked a memorandum of understanding with Jutawan Enterprise to explore the pineapple plantation business.
In a statement to Bursa Malaysia on Monday (Aug 14), the plantation group said that through this collaboration, it will be able to participate in the development and management of pineapples without worrying about sales, as Jutawan Enterprise is the largest exporter of pineapple products in the local area.
Meanwhile, it said Jutawan Enterprise aims to secure more fruit products to stabilise and strengthen its supply chain, considering that Jutawan Enterprise is one of the major fruit exporters to the Middle East.
Harn Len chief operating officer Low Yew Yern said pineapple plantations typically have a shorter crop life cycle compared to oil palm plantations.
“Therefore, we believe that pineapple plantations may be able to generate accelerated income for Harn Len,” said Low.
Trading in the securities of Harn Len was halted for one hour from 9am to 10am on Monday.