Investment In The Cultivation of Oil Palm Plantation
PURCON Group through its associate company and five of its operating subsidiary companies is involved in the cultivation of oil palm plantations in the state of Sabah. The Company's involvement in plantation business commenced almost 15 years ago. It started the business soon after the acquisition of a piece of vacant jungle land, measuring approximately 2,000 acres, and cultivated it into an oil palm plantation. Spanning over a period of approximately 15 years, the Group has expanded immensely and now owned approx. 10,000 acres of oil palm plantations in Sabah, with more than 7,000 acres of these plantations are in their prime age for harvesting. Another 2,000 acres were fully planted in 2004 and first harvested in the 3rd quarter on 2006.
The Group acquired another piece of vacant agricultural land measuring approximately 1,000 acres in the locality of Tungku, Sabah in 2009. And the Group has fully developed this piece of land into oil palm plantation in year 2010.
All the abovementioned plantations are located within the vicinity of the most fertile areas in Sabah, i.e. Sandakan-Lahad Datu. Hence, the fact of the abundance of palm oil mills strategically located in these areas.
In West Malaysia, the Group has another 300 acres of matured oil palm plantations in various States such as Negeri Sembilan and Melaka, with another 700 acres of land-bank to be developed into plantations in year 2011.