Dutch Lady to take 35 per cent stake in Johor dairy business
Jemaluang Dairy will retain its existing management, while completion of the purchase requires third-party approvals and other conditions to be met.
Kulim (Malaysia) Bhd has agreed to sell Dutch Lady Milk Industries Bhd a 35 per cent stake in Jemaluang Dairy Valley Sdn Bhd, an integrated dairy business in Johor. The proposed purchase remains conditional, with third-party approvals among the requirements for completion.
The deal would make Dutch Lady Malaysia a shareholder alongside Kulim and A2 Fresh Holdings Sdn Bhd (A2F). Johor Corporation (JCorp) owns Kulim outright, while A2F is a Rhone Ma Holdings Bhd subsidiary.
Management at Jemaluang Dairy will stay in place. Under governance arrangements agreed by the three shareholders, they will work on developing the business and examining opportunities within Malaysia's dairy market.
Dutch Lady Malaysia said the investment would expand its domestic fresh milk presence, against Malaysia's efforts to raise local dairy output and improve food security.
Veronika Utami, the company's managing director, said it wanted to contribute market knowledge and consumer insights to the partnership, helping it respond to changing preferences and offer Malaysian consumers more choices.
Datuk Syed Mohamed Syed Ibrahim, JCorp's president and chief executive, said the partners would contribute complementary capabilities. He said Kulim had helped establish Jemaluang Dairy's foundations and that Dutch Lady Malaysia's involvement would help realise its long-term commercial potential.
