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Malayan Flour Mills Berhad has established a 51%-49% joint venture with two subsidiaries of the Toyota Motor group to trade in raw materials for animal feed, according to The Star, a Malaysian newspaper. The venture will operate under the name Premier Grain Sendirian Berhad.
The joint venture "will allow us to grow further in economies of scale and with this, we can put more grains in the pipeline via [Toyota Tsusho's] global network," said Teh Wee Chye, managing director of Malayan Flour Mills.
The company seeks to increase its feed grain imports from the current 300,000 tonnes to about 500,000 tonnes, Teh said.