1/12/05  KUALA LUMPUR, Dec (Bernama) -- Golden Hope Plantations Bhd, Thursday signed a memorandum of understanding (MoU) with Japanese multinational Sumitomo Corporation to collaborate in various projects related to the palm oil business.

Under the pact, both companies will undertake several collaborative projects with the objective of establishing oils and fats-based businesses, Golden Hope said in a statement Thursday.

The projects proposed include the commissioning of two feasibility studies to establish oils and fats-based businesses in India and Turkey, it said.

Another feasibility study will be commissioned with a view to explore bio-diesel production in Malaysia and/or Japan and to develop a bio-fuel market in Japan, it added.

Golden Hope and Sumitomo also planned to collaborate in promoting the sale of JGQ RBD palm oil (Jomalina Guaranteed Quality Refined Bleached and Deodorised palm oil) in Japan under the MoU which is valid for one year.

JGQ RBD palm oil is a product of Golden Jomalina Food Industries Sdn Bhd, a subsidiary of Golden Hope.

Golden Hope was represented by its group chief executive Datuk Sabri Ahmad and Sumitomo by its managing executive officer Kentaro Ishimoto at the signing ceremony which was held at the Sumitomo headquarters in Tokyo.

Sumitomo is an established integrated trading company involved in a wide variety of commercial activities worldwide, including the trading of oilseeds, edible oils and edible fats.

It is also involved in the imports and exports of metals, machinery, electronics, fuels, chemicals, textiles and food products apart from being active in finance, logistics, real estate and insurance.

Golden Hope is a 162-year-old plantation company with operations in seven countries -- The Netherlands, Vietnam, China, Bangladesh, Indonesia, Germany and South Africa.