Sarawak Oil Palms
Introduction
Sarawak Oil Palms Berhad (SOPB) is a Malaysian company with a land bank of more than 65,000 hectares mostly in Sarawak which is one of two Malaysian states on the island of Sarawak.
Listed on the Bursa Malaysia (formerly known as the Kuala Lumpur Stock Exchange).
SOPB is involved primarily in the cultivation of oil palms and the operation of palm oil mills. Presently, SOPB has an issued and paid-up capital of RM142,452,360 (US$41.25 million) and a shareholders’ fund that exceeds RM347 million(US$100 million).
History
The roots of SOPB go back to 1968 and the formation of a joint-venture between the UK’s recently discredited Commonwealth Development Corporation (CDC) and the Sarawak State government. The objective was to pioneer the commercial planting of oil palm in Sarawak. Called the Sarawak Oil Palms Sdn Bhd (SOPSB) it had a land area of 4,600 hectares of oil palm plantation.
Procedures to turn SOPSB into a public company started in 1990. The name of the company was changed to Sarawak Oil Palms Berhad (SOPB). It was listed on the Bursa in August 1991.
In June 1995, Shin Yang Plantations Sdn Bhd (SY Group) bought over CDC’s entire 25 percent share in SOPB. Presently, SY Group and Pelita Holdings Sdn Bhd (Sarawak State Government) are the two major shareholders of SOPB with 37.5 percent and 28.5 percent respectively.
SOPB has expanded its land bank to more than 65,000 hectares with 35,000 hectares planted with oil palm in Sarawak. Plantation of oil palm continues to be the sole core business of SOPB. The company has crude palm oil and palm kernel as its sole fruits products.
SOPB describes itself as “one of the most efficiently managed, eco-friendly and integrated plantation companies in Malaysia”. Environmentalists are not convinced.
Vision
To become a diversified corporation with regional recognition
Management Team
Fong Tshu Kwong @ Fong Tshun Kwong
Tang Tiong Ing
Lai Yew Hock
Hasbi Bin Suhaili
Wong Hee Kwong
Eric Kiu Kwong Seng