11/12/2007 (The Star Online), Kuching - Sarawak Plantation Bhd will buy 7,620ha plantation land in Mukah Division in central Sarawak for RM19.05mil from Lembaga Amanah Kebajikan Masjid Negeri Sarawak (LAKMNS).

Its wholly-owned subsidiary Sarawak Plantation Agriculture Development Sdn Bhd signed the conditional sale and purchase agreement for the four parcels of land with LAKMNS here recently.

The acquisition is to be financed by internal fund or borrowings.

Separately, Sarawak Plantation entered into a joint-venture agreement with Pelita Holdings Sdn Bhd to jointly develop nearly 10,800ha of native customary rights (NCR) land in Sarikei and Mukah districts into oil palm plantations.

A joint-venture company – SPB Pelita Wak Pakan Plantation Sdn Bhd – will be formed to undertake the project. 

The two parcels of NCR land are located between 16km and 24km from Sarawak Plantation's Mukah palm oil mill.

Sarawak Chief Minister Tan Sri Abdul Taib Mahmud witnessed the agreement signing ceremony.

The signatories were Sarawak Plantation group chairman Datuk Hasmi Hasnan and group managing director Mohamad Bolhair Reduan, LAKMNS board member Datuk Putit Matzen and managing director Mohd Sabry Othman as well as Pelita Holdings board members Abdullah Chek Sahamat and Sudarsomo Osman. 

Sarawak Plantation said in a statement the acquisition of the plantation land was in line with the group’s plan to ensure growth and position itself as a main player in the oil palm business. 

“The land is 17km to 30km from our Mukah palm oil mill, and it will increase the mill’s utilisation rate when the plantation comes into operation in future,” it added.