China edible oil producer, Henan Xinghe Oil and Fat Co Ltd, plans to introduce its branded oil products to Malaysia in the wake of a proposed reverse takeover (RTO) of Key West Global Telecommunications Bhd. The move will mark the first foray of the company, one of China’s top six edible oil makers, out of its home turf, said Director, Ma Guoliang…Full Article: Bernama Mar 2014
- Henan Xinghe Oil and Fat Co Ltd., is 91.15% owned by Supreme Global Group Ltd, a public company (linked to the Chinese government) which is majority controlled by Testa Holdings Ltd of China (wholly-owned company of Ms. Li Hui Jun, and Mr. Ma GuoLiang)
- Once completed in April 2014, Key West will become “Xinghe Holdings Bhd” and will also focus on producing palm oil for exportation to China
- Chinese groundnut oil production has been relatively unstable and peaked in 2002 at 2.4 million MTs. Since 2002, groundnut oil output has wavered between 1.8 and 2.2 million MTs per year.
- Malaysia and Indonesia are the dominant palm oil suppliers to China. Papua New Guinea (PNG) was a noteworthy supplier, with China importing ~65,500 MTs in 2007. However, since 2008, import volumes from PNG have dropped to negligible levels.