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Singapore Exchange today welcomed the listing of Mewah International Inc (“Mewah”), one of the largest palm oil processors in the world by capacity and the second largest in Malaysia, on the Mainboard under the ticker symbol of “Mewah”.
Malaysia-based Mewah produces a wide range of refined and fractionated vegetable oils and fats principally from palm oil. As an integrated agri-business on edible oils and fats with 50 years of operating track record, Mewah has a global presence in over 100 countries and established brands in Asia, Africa, Middle East and Europe. It has three refineries and processing plants located in Semenyih, Pasir Gudang and Westport, Malaysia, with two packing plants in Malaysia and a packing plant in Singapore.
Mr Rajesh Chopra, Group Chief Financial Officer of Mewah said: “Mewah’s listing marks a new and exciting chapter for the Group. As an integrated agri-business group that is one of the largest palm oil processors in the world by capacity, we are excited for the new phase of growth that lies ahead for the Group. We look forward to further developing our refining capacities and to capitalise on suitable growth opportunities to increase our market reach.”
“We welcome Mewah International Inc to SGX. We are pleased to support Mewah’s global business expansion. The listing of Mewah enhances the breadth and depth of the investment choices in our marketplace, fulfilling the needs of our global investors. We look forward to welcoming more commodities companies from the region to tap into our capital market to fund their growth,” said Mr Magnus Böcker, Chief Executive Officer of Singapore Exchange.”
With a market capitalisation of S$1.65 billion, the listing of Mewah International further enhances the “Food” sector of Singapore Exchange and brings the number of listed companies in this sector to 50, with a combined market capitalisation of S$82 billion. Amongst the 50, there are 7 palm oil companies, including Mewah, with a total market capitalisation of S$ S$55.1 billion.
