By NUR HAZIQAH A MALEK / Pic By BERNAMA
Yutaka Shoji Malaysia Sdn Bhd is investing over RM13 million to establish its presence in Malaysia and tap into the crude palm oil (CPO) market by connecting local producers with Japanese buyers.
Yutaka Shoji Malaysia MD Tsuyoshi Morita said the CPO market in Malaysia has much potential, but has not been fully explored.
“We see ourselves taking a role in advancing the market as we have the necessary skill sets in commodity futures trading to offer price stability for both local and global buyers.
“Currently, we are the only futures brokerage firm from Japan to have a presence in Malaysia. We are here to connect local producers to Japanese buyers and open up the market to both groups of stakeholders,” he said in a statement recently.
He said the brokerage firm foresees demand from Japanese buyers comprising up to 50% of its initial business.
Its parent company Yutaka Shoji Co Ltd registered as a licensed derivatives brokerage firm with the Securities Commission Malaysia last February.