CAB Cakaran, Felcra collaboration on hold

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KUALA LUMPUR (Jan 15): The long-awaited potential collaboration between CAB Cakaran Corp Bhd and the Federal Land Consolidation and Rehabilitation Authority (Felcra) looks to be on the backburner for now.

In a filing with Bursa Malaysia today, CAB Cakaran said it had received a letter dated Jan 14 from Felcra saying that the latter was not ready to explore a collaboration with CAB Cakaran in the agriculture and aquaculture business activities.

Recall that on April 7, 2017, CAB Cakaran and Felcra’s wholly-owned Felcra Food Industries Sdn Bhd had entered into a non-binding agreement to explore such a partnership.

CAB Cakaran's shares closed unchanged at 50.5 sen today with 354,300 shares traded, giving it a market capitalisation of RM323.13 million.

For the past year, shares of the integrated poultry farming and food processing company has fallen by 45.7%.