TWL Holdings Bhd (THB) has inked a memorandum of understanding (MoU) with Mardi Corporation Sdn Bhd (MCSB) to be the investment partner in pineapple plantation and downstream products processing factory of the pineapple industry and agriculture sector. STR/NIK ABDULLAH NIK OMAR
TWL Holdings Bhd (THB) has inked a memorandum of understanding (MoU) with Mardi Corporation Sdn Bhd (MCSB) to be the investment partner in pineapple plantation and downstream products processing factory of the pineapple industry and agriculture sector. STR/NIK ABDULLAH NIK OMAR

KUALA LUMPUR: TWL Holdings Bhd (THB) has inked a memorandum of understanding (MoU) with Mardi Corporation Sdn Bhd (MCSB) to be the investment partner in pineapple plantation and downstream products processing factory of the pineapple industry and agriculture sector.

Under the MoU inked on 13 January 2022, both companies also aims develop of pineapple planting material production centers, pineapple plantation and development of agrotourism.

This also include plans to explore the potential of expanding overseas export markets and marketing of pineapple industry products and agriculture sector. 

MCSB is a wholly owned subsidiary of the Malaysian Agriculture Research and Development Institute (Mardi), an agency under Malaysia's Ministry of Agriculture and Food Industries.

MCSB generates inventions and technological innovations to cater for the needs of the agriculture industry, it also creates knowledge bases.

This comes through research and development (R&D) activities conducted by more than 500 scientists and spread over various disciplines.

According to a Bursa Malaysia filing today, this MoU will remain in effect for one year from the date of the execution or until the date for the execution of the definitive agreement between the parties.

"The board, having taken into consideration all aspects of the MoU, is of the opinion that the deal is in the best interest of TWL," the filing said.