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Kim Teck Cheong to Form Bakery Manufacturing Joint Venture

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Kim Teck Cheong (KLSE:KTC) signed a memorandum of understanding with Sanjung Etika to establish a joint venture company for a bakery manufacturing business in Sarawak, according to a Monday filing with the Malaysian Exchange.

Under the proposed deal, the company will have an 80% stake. Sanjung Etika, a wholly owned subsidiary of Yayasan Sarawak, will hold the remaining 20% stake

The JV will establish and operate a bakery manufacturing factory, with the company to tackle daily operations and management.

The collaboration will allow the company to expand its manufacturing presence in the region and support future business growth.

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