AGRIBUSINESS | Staff Reporter, Singapore

Olam acquires 6 newly incorporated subsidiaries

It also sold its 20% stake in Agrex Australia for US$8.8m.

Olam International Limited's (Olam) wholly-owned subsidiary Queensland Cotton Corporation sold its 20% stake in Agrex Australia Pty Ltd (formerly known as Olam Grains Australia Pty Ltd) for US$8.8m.

Meanwhile, six companies recently joined the company's list of associates.

Olam Outspan (Cambodia) Co., Ltd. has an issued share capital of $1,354 (US$1,000) and is owned by Olam 100%. It specialises in procurement.

Thuan Minh Import Export Corporation is based in Vietnam and focuses on rice import and export. It has an issued share capital of $3m (VND50b), with Olam's interest at 49%.

Another company in Vietnam, Truong Thinh Construction and Investment Joint Stock Company, is also held by Olam for 39% for a share capital of $1.1m (VND19.4b). It specialises in plantation.

Olam Holdings, an investment holding firm in the US, has also joined the list. Olam holds 100% interest and has issued share capital of $13,547 (US$10,000).

Olam Rwanda has a share capital of $802 (RWF500,000) and interest of 100%. It manufactures agricultural products.

Lastly, Xinjiang Olam Global Trading Limited from China is held 100% and has a share capital of $10.4m (CNY5m). It focuses on the processing, sale, import and export of agricultural products.

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