Business News

Published: Thursday February 7, 2013 MYT 12:00:00 AM
Updated: Wednesday April 17, 2013 MYT 1:42:30 AM

KUB inks MoU to cultivate oil palm plantations in Sibu

KUALA LUMPUR: KUB Malaysia Bhd's unit is teaming up with Antero Capital Sdn Bhd to cultivate oil palm plantations over 8,000 ha in Kanowit, Sibu.

KUB Agro Holdings Sdn Bhd had on Thursday inked an MoU with Antero Capital for the project which would include palm oil mils and other projects.

Both parties would combine their resources and expertise to explore, apply and/or propose to the relevant authorities for the project.

KUB expected the plan to double its crop output to 200,000 tonnes per year and rake in an additional revenue of RM60mil per year upon its completion in 2018.

“The development of the plant is expected to kick in by fourth quarter this year and cultivate the land in stages of 500 hectare to 1,000 hectare within five-year period,” said KUB chief executive officer Dr Zainal Abidin Salleh.

Tags / Keywords: News, Business, KUB Malaysia Bhd, Antero Capital, cultivate oil palm plantations, Kanowit, Sibu, Business

advertisement

  1. Battersea's 2nd phase to cost more than twice of phase 1
  2. Quek, Poh acquire 15% of Alam Maritim
  3. 1MDB clarifies state of accounts
  4. Zurich Asia sells 40% stake in MCIS Zurich for RM304mil
  5. Liew's 2.76% stake in S P Setia traded off-market at RM3.95 per share
  6. Property transactions dip, but house prices continue to rise
  7. 1MDB and US firm in solar tie-up
  8. 1MDB's annual land assessments set a precedent
  9. Bulk of 1MDB loans guaranteed by Govt
  10. M'sian property market falls 10.9% in volume, rises 6.7% in value

advertisement

advertisement