FGV terminates MoU with Samyang

KUALA LUMPUR (Jan 24): FGV Holdings Bhd has terminated its memorandum of understanding (MoU) signed with Samyang Foods Co Ltd early last year.

“The termination of the MoU would not have any financial impact on the company and its subsidiaries,” said FGV in a filing to Bursa Malaysia today.

To recap, the two companies entered into an agreement to establish Samyang's halal production facilities in Malaysia, focusing on production of halal ramen and instant noodles for Malaysia and the global markets.

Samyang Foods is a company incorporated in South Korea and listed on the Korean Stock Exchange.

The company is in the business of manufacturing and selling various food products such as ramen, snacks, dairy products, sauces and frozen dumplings.

See also:FGV, South Korea’s Samyang to set up halal ramen manufacturing plant here