Singapore-based Petra Food Pte has signed a joint-venture agreement with SD Holdings (SDH), a wholly-owned subsidiary of conglomerate Sime Darby Bhd, and SDH’s wholly-owned subsidiary Sime Confectionery (SCSB) to produce and market chocolate goods.
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Under the terms of the deal, Petra Food will give SCSB the technical assistance to manufacture chocolate confectionery products with the intellectual property rights of Delfi Chocolate Manufacturing.
Meanwhile, the issued and paid-up share capital of SCSB will increase to RM11.5 million, 60% controlled by Petra Food and 40% owned by SDH.
