Genting Plantation to gain from ERS tie-up

PETALING JAYA: Genting Plantation Bhd’s proposal to sell a 25%, or RM72mil, stake in its biodiesel plant and collaborate with Elevance Renewable Sciences Singapore Pte Ltd (ERS Singapore) will enable it to be the first to produce high-value specialty chemicals in Malaysia.

RHB Research said it was positive on Genting Plantation’s proposal, which involves disposing 72 million shares in Genting Integrated Biorefinery Sdn Bhd for RM1 each, as these specialty chemical products would typically yield high double-digit margins.