Lembaga Tabung Haji to invest RM300 million in halal business
Lembaga Tabung Haji (TH) is looking at
investing up to RM300 million initially in the halal food business
within the next five years given the bright market prospects. “The
halal food sector has been identified as a new investment focus due to
its potential returns,” group managing director and chief executive
officer Datuk Ismee Ismail told reporters at the signing of a strategic
alliance between TH and Silver Bird Group Bhd.
TH is currently involved in the property, plantation, real estate development and services sectors.
“We are open to more alliances in the food business, not only with
listed companies but also with private companies, which will provide TH
with the platform to compete regionally and internationally,” Ismee
He said the statutory body was currently holding 29.4 percent
stake in bread maker Silver Bird, 9.89 percent interest in fast food
chain operator QSR Brands, and 9.78 percent stake in food producer Lam
Soon (M) Bhd.
Under the alliance with Silver Bird, TH will give its endorsement
to all Silver Bird food products that are now being marketed under the
High5 brand name, Ismee said.
Silver Bird will also produce a range of bakery and confectionary
products to be marketed by TH under a new brand name which will be
unveiled within the next two to three months, he said.
TH’s fund size currently stood at RM17.1 billion with more than
4.2 million depositors. It has about RM6.0 billion in equity investment
in private companies as well as those listed on Bursa Malaysia.
Silver Bird’s group managing director Datuk Jackson Tan Han Kook
said the alliance with TH will further reinforce the company’s position
in consumer bread market.
“This arrangement will help us to enlarge our market share very
significantly,” he said, adding that Silver Bird now has about 30
percent of the domestic bread market.