PETALING JAYA: Green Ocean Corp Bhd
is proposing to diversify its existing business to include the distribution and trading of food and beverage (F&B) as well as food services.
Green Ocean’s existing business include palm kernel crushing, crude palm kernel oil, palm kernel expeller and trading of a variety of palm oil products.
It is also involved in the manufacturing and trading of gloves, as well as trading, retailing and distribution in all kinds of F&B.
In a filing with Bursa Malaysia, Green Ocean said its F&B business has been exhibiting growth, while its gloves business has been affected by the decrease in average selling price and market demand on gloves.
“As such, the group plans to undertake the proposed diversification via the expansion of its F&B business.
“The board anticipates that the proposed diversification will contribute more than 25% or more of the net profits of the group and/ or result in a diversion of 25% or more of the group’s net assets.”
Moving forward, Green Ocean said it intends to grow its F&B business by expanding its range of frozen food to include frozen processed food products.
“This will allow the group to offer more frozen food products to its customers, expand its distribution reach and capture more market share.”
