MARKET DEVELOPMENT
TDM Invests RM500m for Expansion Since 2004
TDM Invests RM500m for Expansion Since 2004
05/06/2014 (Daily Express) - State government-owned company TDM Bhd has invested RM500 million for expansion since 2004 to double its oil palm hectarage and triple its hospital operations by 2022, says its Chairman Tan Sri Datuk Wan Abu Bakar Wan Omar.
"We are confident TDM is on the right track. We are in a strong financial position and have a good management team with a proven track record of transforming and developing the company's core businesses," he told reporters after the company's 49th annual general meeting here Tuesday.
He said TDM targets to have 100,000 hectares of plantations - in the state as well as in Kalimantan - from 32,000 hectares currently.
In Kalimantan, where its planted hectarage is already at 11,738 hectares, it plans to cultivate 5,000 hectares annually for oil palm production, and expects the first harvest this year from the 1,500 hectares planted in 2009.
These would make the Indonesian province the main contributor to its plantation revenue in the medium term, and this year the company is building a RM80 million palm oil mill there which is expected to begin operations next year, Wan Abu Bakar said.
The group is also installing a new sterilisation system at its plants in Setiu and Kemaman to lower operation costs, while its second biofertiliser plant in Kemaman will begin operations in August, cutting the company's annual non-organic fertiliser costs by 20 per cent.
Its subsidiary TDM Plantation Sdn Bhd (TDMP) obtained the Roundtable on Sustainable Palm Oil (RSPO) certification in November 2013. -Bernama
"We are confident TDM is on the right track. We are in a strong financial position and have a good management team with a proven track record of transforming and developing the company's core businesses," he told reporters after the company's 49th annual general meeting here Tuesday.
He said TDM targets to have 100,000 hectares of plantations - in the state as well as in Kalimantan - from 32,000 hectares currently.
In Kalimantan, where its planted hectarage is already at 11,738 hectares, it plans to cultivate 5,000 hectares annually for oil palm production, and expects the first harvest this year from the 1,500 hectares planted in 2009.
These would make the Indonesian province the main contributor to its plantation revenue in the medium term, and this year the company is building a RM80 million palm oil mill there which is expected to begin operations next year, Wan Abu Bakar said.
The group is also installing a new sterilisation system at its plants in Setiu and Kemaman to lower operation costs, while its second biofertiliser plant in Kemaman will begin operations in August, cutting the company's annual non-organic fertiliser costs by 20 per cent.
Its subsidiary TDM Plantation Sdn Bhd (TDMP) obtained the Roundtable on Sustainable Palm Oil (RSPO) certification in November 2013. -Bernama