Sime Unit Buys Palm Oil Grower

PETALING JAYA: Sime Darby Bhd wholly-owned unit Sime Darby Plantation Sdn Bhd had on Dec 4 acquired palm oil grower Nature Ambience Sdn Bhd (NASB) for RM16.8mil, the group told Bursa Malaysia yesterday.

Sime Darby said the acquisition would enable the group to develop oil palm plantations in Sarawak under the state government’s new concept of development for Native Customary Rights (NCR) land.
NASB was granted approval by the state to be the investors/developer for about 26,211ha of NCR land in Kapit and Julau.

“It is the intention of Sime Darby group to adopt a differentiated approach to cultivate the NCR land, which is to be developed pursuant to the NCR joint venture agreement, in compliance with the relevant guidelines issued by the Roundtable on Sustainable Palm Oil,” it said.

Source : The Star

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