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| Exchange Disseminated Time | IVP Ltd has informed BSE that the Board of Directors of IVP Felda Palm International Pvt Ltd at its first meeting held on September 16, 2005, has decided to commence import and trading operations. The Company was incorporated on July 01, 2005.
The Company has been set up under a Joint Venture Agreement between the Company and Felda Palm Industries SDN BHD of Malaysia for import, trading, marketing and selling Palm oils, its fraction and products, with initial shareholding of 70% by the Company and Allana Group and 30% Foreign Equity.
The Board of Directors also decided to issue Capital of Rs 1,50,00,000/- out of which Rs 70,00,000 (46.67%) has been issued to the Company. |
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