Delima Oil targets RM1.3b revenue

KUALA LUMPUR: Delima Oil Products Sdn Bhd, a subsidiary of Felda Global Ventures Holdings Bhd (FGV), targets to achieve RM1.3 billion in revenue this year.

Chief executive officer Zakaria Arshad said this year, the company will focus on producing higher quality products as well as introducing new products in the non-food segment, such as personal care products, which will be introduced in June this year.

He added that Delima Oil has allocated RM18 million for research and development, production, packaging and marketing of the new products.

"Currently, we focus on exporting our products to the Asean region, namely the Indochina countries, such as Myanmar, Cambodia and Laos. The new products will also be distributed in Vietnam, the Philippines and southern China," he said after launching Delima Oil's new margarine product, Adela, on Monday.

Delima Oil specialises in manufacturing processed palm oil products and distributing downstream palm oil-based products.

On the home front, the company is already a leader in consumer products with its cooking oil, Saji, and margarine, Seri Pelangi, having 27 per cent and 50 per cent market share, respectively.

For the year ended December 31 2012, Delima Oil recorded revenue of RM1.12 billion. In the same year, FGV's downstream segment recorded RM20.5 million in net profit.

Overseas contribution to its revenue is around 10 per cent.