MARKET DEVELOPMENT
Masing Launches Firm’s First Oil Palm Estate in Bintangor
Masing Launches Firm’s First Oil Palm Estate in Bintangor
23/03/2016 (Borneo Post) - DPO Plantation Sdn Bhd’s foray into oil palm plantation in Loba Bunut Hulu, Bintangor was officially launched by Land Development Minister Tan Sri Dr James Masing in Bintangor yesterday.
According to a press release issued yesterday, the native customary rights (NCR) land development scheme covering an area of 1,921 hectares will be the company’s pioneer project in Bintangor, Sarikei.
DPO Plantations Sdn Bhd is a subsidiary of Asia Media Group Berhad, a public listed company listed in Bursa Malaysia, Kuala Lumpur.
Witnessing the launch of the oil palm plantation project were Semop assemblyman and chief political secretary to the chief minister Abdullah Saidol, Daro assemblyman Murni Suhaili, the company’s senior management and directors namely Datuk Ricky Wong, Paul Jong and Jeff Lye.
Others present were Land Development Ministry permanent secretary Datu Jaul Samion, Pelita Holdings Sdn Bhd deputy chief executive officer Razali Zainudin, senior manager George Lentton, longhouse headmen, area development committee members, community leaders and other senior government officials.
The project is expected to benefit eight longhouses and 250 families but with the nearby longhouses starting to join, the eventual number of families benefiting from this NCR development scheme will likely be doubled or more.
The statement further mentioned that DPO Plantations Sdn Bhd sees this as befitting its objectives of contributing to community development besides realising the commercial objective to its shareholders.
The overall investment in the Loba Bunut Hulu oil palm plantation project is expected to be RM30 million.
However, the amount will increase depending on the eventual size of area involved. The company is hoping for more similar collaborations with the state government and Land Custody and Development Authority (LCDA) to commercialise the idle NCR land in Sarawak.
In this regard, the company will continue to engage with Ministry of Land Development and LCDA to explore more similar projects.
The initial development at Loba Bunut NCR Development Scheme will take about one and a half years to complete.
DPO Plantations will start the project as soon as possible after all the necessary works in compliance with the New NCR Development Scheme have been completed.
Meanwhile, DPO Plantations Sdn Bhd’s parent company Asia Media Group Berhad obtained its shareholders’ approval last year to raise RM71.2 million to venture into oil palm plantation projects as part of the company’s diversification strategies.
According to a press release issued yesterday, the native customary rights (NCR) land development scheme covering an area of 1,921 hectares will be the company’s pioneer project in Bintangor, Sarikei.
DPO Plantations Sdn Bhd is a subsidiary of Asia Media Group Berhad, a public listed company listed in Bursa Malaysia, Kuala Lumpur.
Witnessing the launch of the oil palm plantation project were Semop assemblyman and chief political secretary to the chief minister Abdullah Saidol, Daro assemblyman Murni Suhaili, the company’s senior management and directors namely Datuk Ricky Wong, Paul Jong and Jeff Lye.
Others present were Land Development Ministry permanent secretary Datu Jaul Samion, Pelita Holdings Sdn Bhd deputy chief executive officer Razali Zainudin, senior manager George Lentton, longhouse headmen, area development committee members, community leaders and other senior government officials.
The project is expected to benefit eight longhouses and 250 families but with the nearby longhouses starting to join, the eventual number of families benefiting from this NCR development scheme will likely be doubled or more.
The statement further mentioned that DPO Plantations Sdn Bhd sees this as befitting its objectives of contributing to community development besides realising the commercial objective to its shareholders.
The overall investment in the Loba Bunut Hulu oil palm plantation project is expected to be RM30 million.
However, the amount will increase depending on the eventual size of area involved. The company is hoping for more similar collaborations with the state government and Land Custody and Development Authority (LCDA) to commercialise the idle NCR land in Sarawak.
In this regard, the company will continue to engage with Ministry of Land Development and LCDA to explore more similar projects.
The initial development at Loba Bunut NCR Development Scheme will take about one and a half years to complete.
DPO Plantations will start the project as soon as possible after all the necessary works in compliance with the New NCR Development Scheme have been completed.
Meanwhile, DPO Plantations Sdn Bhd’s parent company Asia Media Group Berhad obtained its shareholders’ approval last year to raise RM71.2 million to venture into oil palm plantation projects as part of the company’s diversification strategies.