In line with Goodhope's commitment to maximizing value creation over the long term, the Group is extending its business activities along the value chain to take advantage of growth opportunities in edible oil refining and specialty fats manufacturing.
Over time, this segment will be instrumental in ensuring the realization of the Group's vision of becoming an integrated, globally recognized player in the food industry.
The business segment produces a wide range of refined and fractionated oils and fats such as specialty fats for the Chocolate, Confectionary, Ice cream and Bakery industries, cooking oils, animal feed and other by-products derived principally from CPO, CPKO and crude coconut oil. The combined refining and specialty fats processing capacities total 321,404 MT per year.
Goodhope entered the segment with a 100% acquisition of Premium Vegetable Oils Sdn Bhd and Premium Fats Sdn Bhd in Malaysia, and Arani Agro Oil Industries Limited in India in July 2011. Goodhope has also secured all intellectual property rights including the Premium Nutrients brand name.
These companies are now owned by Premium Nutrients (Pvt) Ltd, a Singapore based fully owned subsidiary of Goodhope Asia Holdings Ltd.
We plan to invest in innovation, build consumer brands, strengthen customer/agent relationships and expand our market reach to enable us to realize our vision of becoming a globally recognized player in the food industry. As a first step, the Premium Innovation Centre, our very own Food research laboratory, was set up in Pasir Gudang, Malaysia. This centre will act as the focal point in our efforts to develop innovative and customized product solutions to meet the needs of food manufacturers’ world over.
As part of our commitment to sustainable practices, in October 2012, Premium Vegetable Oils Sdn Bhd and Premium Fats Sdn Bhd obtained RSPO Supply Chain Certification under the mass balance and segregation processing mechanisms.