KOTA KINABALU:
Chemical Company of Malaysia Berhad (CCM Bhd), a company listed on the Main Board of Bursa Malaysia, has confirmed its entry into Sabah to build a fertilizer plant by 2009. Its subsidiary, CCM Agriculture (Sabah) Sdn Bhd, signed a purchase agreement with State-owned POIC Sabah Sdn Bhd yesterday for a 16.65-acre plot in the palm oil industrial cluster in Lahad Datu. Industrial Development Minister Datuk Dr Ewon Ebin witnessed the signing at POIC Sabah’s head office at the Sabah Trade Centre here led by the Chief Executive Officer of POIC Lahad Datu, Dr Pang Teck Wai, and CCM Agriculture director Haji Mohd Ali Sabri bin Mohd Ali Jaafar. Haji Mohd Ali Sabri is also the Chief Operating Officer of CCM Bhd. The land purchase price is about RM8 million and CCM Agriculture is expected to invest RM75 million in a fertilizer plant with an annual capacity of about 130,000 tonnes. Yesterday’s signing put the number of investors in POIC Lahad Datu at 16, three of which are major fertilizer companies. Other investors include those in biodiesel, logistics and bulking installations.
The combined investments these companies will bring into POIC Lahad Datu is more than RM1.2 billion. Two biodiesel plants in POIC Lahad Datu are in operation. They are the Australian-owned SPC Biodiesel Sdn Bhd and the Korean- controlled Global Biodiesel. Meanwhile, Dr Pang said the entry of a third fertilizer company in POIC Lahad Datu was proof of the confidence these companies have in the future of the Sabah oil industry and POIC Lahad Datu. According to him, Sabah imports about one million tonnes of fertilizers per year to feed its plantation and cash crop sector. The entry of the fertilizer companies would ensure that the Sabah consumers do not have to pay the costly shipping. This is especially significant in view of the impending rise in transportation charges caused by the sharp rise in petroleum prices. The CCM Bhd Group is Malaysia’s largest chemicals, fertilizers and health care companies specializing in chemical products and applications, fertilizers and technical advisory services, pharmaceutical and healthcare products.
Chemical Company of Malaysia Berhad (CCM Bhd), a company listed on the Main Board of Bursa Malaysia, has confirmed its entry into Sabah to build a fertilizer plant by 2009. Its subsidiary, CCM Agriculture (Sabah) Sdn Bhd, signed a purchase agreement with State-owned POIC Sabah Sdn Bhd yesterday for a 16.65-acre plot in the palm oil industrial cluster in Lahad Datu. Industrial Development Minister Datuk Dr Ewon Ebin witnessed the signing at POIC Sabah’s head office at the Sabah Trade Centre here led by the Chief Executive Officer of POIC Lahad Datu, Dr Pang Teck Wai, and CCM Agriculture director Haji Mohd Ali Sabri bin Mohd Ali Jaafar. Haji Mohd Ali Sabri is also the Chief Operating Officer of CCM Bhd. The land purchase price is about RM8 million and CCM Agriculture is expected to invest RM75 million in a fertilizer plant with an annual capacity of about 130,000 tonnes. Yesterday’s signing put the number of investors in POIC Lahad Datu at 16, three of which are major fertilizer companies. Other investors include those in biodiesel, logistics and bulking installations.
The combined investments these companies will bring into POIC Lahad Datu is more than RM1.2 billion. Two biodiesel plants in POIC Lahad Datu are in operation. They are the Australian-owned SPC Biodiesel Sdn Bhd and the Korean- controlled Global Biodiesel. Meanwhile, Dr Pang said the entry of a third fertilizer company in POIC Lahad Datu was proof of the confidence these companies have in the future of the Sabah oil industry and POIC Lahad Datu. According to him, Sabah imports about one million tonnes of fertilizers per year to feed its plantation and cash crop sector. The entry of the fertilizer companies would ensure that the Sabah consumers do not have to pay the costly shipping. This is especially significant in view of the impending rise in transportation charges caused by the sharp rise in petroleum prices. The CCM Bhd Group is Malaysia’s largest chemicals, fertilizers and health care companies specializing in chemical products and applications, fertilizers and technical advisory services, pharmaceutical and healthcare products.