Tuesday, January 21, 2014

TDM to set up 60-tonne palm oil mill

TDM Expects Indon Ops To Contribute 40-50 Per Cent To Group's Earnings

KUALA LUMPUR, Jan 21 (Bernama) -- TDM Plantation Sdn Bhd expects its Indonesian operations to contribute between 40 and 45 per cent to the group's earnings over the next five years.

Chief Executive Officer, Badrul Hisham Mahari, said the company has invested between RM250 million and RM300 million over seven years on its 40,000 ha plantation in Indonesia.

He said 12,000 ha had been planted with oil palm trees while 500 ha had matured.

Badrul said TDM, capitalising on the maturation of these oil palm trees, the group would set up a 60-tonne palm oil mill costing RM80 million to correspond with the first harvest which was expected by 2015.

"The group is the first plantation company in the East Coast to achieve 100 percent RSPO-certified for its mills and estates," he said after the Roundtable on Sustainable Palm Oil (RSPO) certificate presentation.

The group's plantation arm received the RSPO certification in November 2013.

TDM also has two oil palm mills in Sungai Tong and Kemaman, Terengganu.

Badrul said the plantation division has been the major contributor to the group's revenue of about 90 per cent compared with its healthcare unit.