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Metro Pacific agribiz unit acquires coconut processor Franklin Baker
Metro Pacific agribiz unit acquires coconut processor Franklin Baker

GMA Network

time5 days ago

  • Business
  • GMA Network

Metro Pacific agribiz unit acquires coconut processor Franklin Baker

Pangilinan-led Metro Pacific Investments Corp. (MPIC), through its wholly owned subsidiary Metro Pacific Agro Ventures (MPAV), is acquiring 103-year-old coconut products maker Franklin Baker Group of Companies. In a news release on Thursday, MPIC announced MPAV had entered into agreements to acquire Franklin Baker, marking its agribusiness unit's 'major expansion' and reinforcing its position as the leading player in the Philippines' food-grade coconut export industry. Franklin Baker, founded in 1921, is one of the Philippines' most established coconut processors, with manufacturing facilities in Laguna and Davao. It supplies a broad range of value-added coconut products—including desiccated coconut, coconut water, virgin coconut oil, and coconut cream—to over 50 countries. According to MPIC, the transaction will provide Franklin Baker with the capital and strategic support needed to stabilize its operations, clear pending export backlogs, return to a path of sustainable growth, safeguard the livelihoods of over 5,000 workers, and maintain a reliable market for more than 50,000 coconut farmers across the country. The Pangilinan-led conglomerate said the acquisition builds on MPAV's earlier investment in Axelum Resources Corporation, a leading exporter of food-grade coconut products known for its ability to meet the highest global standards for food safety, traceability, and quality assurance. 'Coconut is one of the Philippines' most important and iconic crops—something we should be proud of. With Franklin Baker and Axelum, we now have the opportunity to scale a globally competitive coconut platform—one that brings together world-class processing, long-standing customer relationships, and strong ties to our farming communities,' said Manuel V. Pangilinan, chairman and CEO of MPIC. MPIC said MPAV's agribusiness platform includes investments in coconut through Franklin Baker and Axelum; dairy through Carmen's Best and Bukidnon Milk Company; and fruit/vegetable production through Metro Pacific Fresh Farms. —VBL, GMA Integrated News

Rising costs, regulation fuel strategic consolidation in Malaysia's data centre market: JLL
Rising costs, regulation fuel strategic consolidation in Malaysia's data centre market: JLL

New Straits Times

time6 days ago

  • Business
  • New Straits Times

Rising costs, regulation fuel strategic consolidation in Malaysia's data centre market: JLL

KUALA LUMPUR: Malaysia's rapidly growing data centre sector is now entering a consolidation phase, a natural progression observed in more mature markets, according to global commercial real estate firm JLL. JLL Malaysia data centre transactions, capital markets manager Sum Chun Kit said this transition would favour high-quality operators over speculative players as cost and regulatory pressures mount. "This is a healthy trend in a maturing market. Rising costs across the development chain, including water and electricity tariffs, are expected to increase by 10 per cent to 20 per cent. "These pressures would filter out players who are not optimising efficiency," he said during JLL's Second Quarter (2Q) 2025 Market Dynamics Report briefing today. He noted that higher utility charges, while challenging, could ultimately benefit the broader ecosystem. "Charging higher tariffs allows energy providers like Tenaga Nasional Bhd to recover more revenue and reinvest in infrastructure upgrades, leading to better stability and service for all users," Sum said. Other cost pressures include rising land prices, construction materials, and tighter regulations involving authority approvals, as well as the expanded scope of the sales and service tax. Moving forward, Sum expected the consolidation trend to continue, especially for operators unable to demonstrate efficient use of water and power, among the two critical resources for data centres. Despite this, demand for data centres remains strong in key areas, with continued interest around Johor Bahru, established hubs in the Klang Valley, and emerging zones such as Nilai and Port Dickson in Negeri Sembilan. "Like any business or real estate sector, the data centre market also moves through cycles. What we are seeing now is part of that natural evolution," he said. Meanwhile, JLL Malaysia research and consultancy head Yulia Nikulicheva said that strategic partnerships with local authorities are increasingly important in expediting infrastructure upgrades and project approvals. "Malaysia's data centre market is in a consolidation phase, backed by solid numbers – 638 megawatts (MW) of completed capacity, 1,300 MW under construction, and over 3,450 MW in the pipeline," she said. At the same event, JLL Malaysia also launched the Malaysia Property Intelligence Centre (MPIC) – an interactive analytics platform aimed at transforming how industry players access, visualise, and interpret real estate data. "In today's fast-paced real estate environment, access to accurate, real-time market intelligence is essential, not optional. "MPIC transforms raw data into strategic insights, giving our clients a decisive edge in an increasingly complex marketplace," Nikulicheva said.

Johari: Hire local TVET grads or no foreign workers for plantations
Johari: Hire local TVET grads or no foreign workers for plantations

The Sun

time22-06-2025

  • Business
  • The Sun

Johari: Hire local TVET grads or no foreign workers for plantations

KUALA KANGSAR: The Plantation and Commodities Ministry (MPIC) has mandated that plantation industry players must first hire graduates from Technical and Vocational Education and Training (TVET) programmes before considering the employment of foreign workers. Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said industry players must provide proof of their efforts to hire TVET graduates to the ministry before they are permitted to recruit foreign workers. 'We are currently facing a situation where many industries are unwilling to hire graduates who have completed their training. They are reluctant to provide these students with the opportunity to gain practical experience because they prefer to take the easier route. 'Although the government has approved foreign workers for the plantation sector, I will not allow it unless industry players contribute to our local youth,' he said when met at the Dialog@MPIC session here today. Johari said the ministry will train about 250 TVET students annually in the plantation sector, and they will be placed in the industry based on the specific needs of the industry players. He said industry players must train these students until they become skilled and future specialists in the plantation sector. 'I want to commend Sime Darby and FGV for their dedicated initiatives to provide accommodation and decent salaries for young individuals who did not attend university. These youths can earn a salary of RM2,500 if they develop their skills and complete a TVET Level 3 qualification, and in another eight months, they could earn up to RM3,500. '...we must support these students in developing their careers. Otherwise, we're abandoning these youths, and that's not what we promised. Some industry players even refuse to hire them, and that's why I want to enforce this prerequisite. Currently, we depend on nearly 260,000 foreign workers to manage our plantations,' he said. Johari said the sector is vital as it represents the world's third-largest export industry, and within the national commodity sector, Malaysia exports approximately RM168 billion. He emphasised the need for industry players to take responsibility for mentoring and supporting these young talents.

Plantation firms must hire TVET grads before foreign workers
Plantation firms must hire TVET grads before foreign workers

The Sun

time22-06-2025

  • Business
  • The Sun

Plantation firms must hire TVET grads before foreign workers

KUALA KANGSAR: The Plantation and Commodities Ministry (MPIC) has mandated that plantation industry players must first hire graduates from Technical and Vocational Education and Training (TVET) programmes before considering the employment of foreign workers. Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said industry players must provide proof of their efforts to hire TVET graduates to the ministry before they are permitted to recruit foreign workers. 'We are currently facing a situation where many industries are unwilling to hire graduates who have completed their training. They are reluctant to provide these students with the opportunity to gain practical experience because they prefer to take the easier route. 'Although the government has approved foreign workers for the plantation sector, I will not allow it unless industry players contribute to our local youth,' he said when met at the Dialog@MPIC session here today. Johari said the ministry will train about 250 TVET students annually in the plantation sector, and they will be placed in the industry based on the specific needs of the industry players. He said industry players must train these students until they become skilled and future specialists in the plantation sector. 'I want to commend Sime Darby and FGV for their dedicated initiatives to provide accommodation and decent salaries for young individuals who did not attend university. These youths can earn a salary of RM2,500 if they develop their skills and complete a TVET Level 3 qualification, and in another eight months, they could earn up to RM3,500. '...we must support these students in developing their careers. Otherwise, we're abandoning these youths, and that's not what we promised. Some industry players even refuse to hire them, and that's why I want to enforce this prerequisite. Currently, we depend on nearly 260,000 foreign workers to manage our plantations,' he said. Johari said the sector is vital as it represents the world's third-largest export industry, and within the national commodity sector, Malaysia exports approximately RM168 billion. He emphasised the need for industry players to take responsibility for mentoring and supporting these young talents.

Johari: Hire Local TVET Grads Or No Foreign Workers For Plantations
Johari: Hire Local TVET Grads Or No Foreign Workers For Plantations

Barnama

time22-06-2025

  • Business
  • Barnama

Johari: Hire Local TVET Grads Or No Foreign Workers For Plantations

KUALA KANGSAR, June 22 (Bernama) -- The Plantation and Commodities Ministry (MPIC) has mandated that plantation industry players must first hire graduates from Technical and Vocational Education and Training (TVET) programmes before considering the employment of foreign workers. Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said industry players must provide proof of their efforts to hire TVET graduates to the ministry before they are permitted to recruit foreign workers. "We are currently facing a situation where many industries are unwilling to hire graduates who have completed their training. They are reluctant to provide these students with the opportunity to gain practical experience because they prefer to take the easier route. "Although the government has approved foreign workers for the plantation sector, I will not allow it unless industry players contribute to our local youth," he said when met at the Dialog@MPIC session here today. Johari said the ministry will train about 250 TVET students annually in the plantation sector, and they will be placed in the industry based on the specific needs of the industry players. He said industry players must train these students until they become skilled and future specialists in the plantation sector. "I want to commend Sime Darby and FGV for their dedicated initiatives to provide accommodation and decent salaries for young individuals who did not attend university. These youths can earn a salary of RM2,500 if they develop their skills and complete a TVET Level 3 qualification, and in another eight months, they could earn up to RM3,500. "…we must support these students in developing their careers. Otherwise, we're abandoning these youths, and that's not what we promised. Some industry players even refuse to hire them, and that's why I want to enforce this prerequisite. Currently, we depend on nearly 260,000 foreign workers to manage our plantations," he said. Johari said the sector is vital as it represents the world's third-largest export industry, and within the national commodity sector, Malaysia exports approximately RM168 billion. He emphasised the need for industry players to take responsibility for mentoring and supporting these young talents.

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