28/08/2007 (Bernama), KUALA LUMPUR - Newly-listed main board plantation company Sarawak Plantation Bhd plans to secure land in Kalimantan of between 30,000-50,000 hectares in the next three years in efforts to expand its palm oil acreage.

To this end, the company was already in talks with the Indonesian government, its group managing director Mohamad Bolhair Reduan told reporters here today after the company's maiden listing on Bursa Malaysia.

"We will identify more land outside and inside Sarawak to expand our palm oil plantations," he said.

The company's shares opened at RM3.40 for a premium of 40 sen over its offer price of RM3.00 with 6,913 lots changing hands at the opening bell.

It eased to RM3.14 after more than an hour of trade.

The company is owned by the Sarawak state government.

-- BERNAMA