SINGAPORE (Sept 30): Japfa’s shares have risen 72% since the start of the year as the group continues to strengthen both its upstream and downstream businesses to provide more stable margins for the group.

Just four months after winning the backing of global investment firm KKR for its upstream animal feed business, Japfa has formed a poultry processing joint venture with food and agriculture giant Cargill to expand its downstream food business.

The joint venture, Cahaya Gunung Foods, will be formed with an initial investment of US$6 million ($8.16 million). Cargill will hold a 60% share and Japfa the remaining 40%.

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