MARKET DEVELOPMENT
Wilmar To Stop Buying CPO From Sarawak
Wilmar To Stop Buying CPO From Sarawak
14/02/2014 (Bernama) - Sarawak may lose some RM400 million in sales tax revenue a year from oil palm products following the decision of a multinational refinery company's refusal to buy crude palm oil (CPO) from mills in the state.
A Singapore-based company, Wilmar International Limited, which has its refinery plant in Bintulu, has written to the state government to inform that the company would stop buying CPO produced from oil palm trees planted in forest areas and peat swamp land in the state from 2015 onwards.
State Land Development Minister Tan Sri Dr James Masing said the company made known the decision in a letter sent to him on Dec 5 last year.
Masing said he had replied to the letter and had briefed the state cabinet on the matter.
He said the state government would not bow to such pressure from the company.
A Singapore-based company, Wilmar International Limited, which has its refinery plant in Bintulu, has written to the state government to inform that the company would stop buying CPO produced from oil palm trees planted in forest areas and peat swamp land in the state from 2015 onwards.
State Land Development Minister Tan Sri Dr James Masing said the company made known the decision in a letter sent to him on Dec 5 last year.
Masing said he had replied to the letter and had briefed the state cabinet on the matter.
He said the state government would not bow to such pressure from the company.