Sign up | Log in



Home  >>  Daily News  >>  Malaysia News  >>  Commodities  >>  Malaysian firm to expand palm estates

NEWS UPDATES 15 July 2009

Malaysian firm to expand palm estates

Related Stories
June 29, 2009
Malaysian power firm to invest $150m in new Cambodian plant

May 27, 2009
Malaysian firm to expand palm plantation in Indonesia

May 10, 2009
Malaysia’s planter to invest in Indonesia

Malaysian planter United Malacca (UMB) will spend 240 million ringgit ($67 million) to almost double its oil palm estates with a land acquisition in Borneo Island, the firm was quoted by Reuters as saying Tuesday.

United Malacca will acquire 10,102 hectares from an unlisted company in the state of Sabah in Borneo, the prime palm producing region in Malaysia, the latest purchase by Malaysian planters seeking to meet growing demand for the vegetable oil.

"At present, the size of United Malacca's total plantation land is approximately 14,008 hectares. The large proportion of mature planted area emphasises the need for UMB to source for new plantation land so as to ensure continued growth," the firm said in a filing with the stock exchange.

The new estates have relatively immature oil palm trees younger than five years old, which will reduce the maturity profile of United Malacca, the firm said. The purchase will be funded internally.

Shares of United Malacca closed up 1.37 percent at 7.40 ringgit, in line with gains in the broader market .KLSE.


Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below 




1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand