Bung: ‘Felcra is planning to bring in overseas
investors from the United States and Asean.’ Picture shows FELCRA Chairman Datuk
Bung Mokhtar Radin exchanging the MOU documents with Datuk Dr. Choo Yuen May
after the signing ceremony between FELCRA and MPOB witnessed by Datuk Haji
Ramlee Abu Bakar and Datuk Wan Mohammad Khair-il Anuar Wan Ahmad. – LOW BOON
TAT/THE STAR
KUALA LUMPUR: Felcra Bhd expects the construction of its maiden premium mixed property development project in Jalan Semarak, Kuala Lumpur to begin in April and completed within the next three years.
Its chairman Datuk Bung Mokhtar Radin said Felcra had received approvals from the relevant authorities for the 1.8ha project, which would be carried out in two phases.
The project will comprise the group’s new headquarters – a 30-storey Wisma Felcra, condominiums and a shopping mall cum business centre.
The gross development value of the entire project was estimated at RM1bil, of which phase one would cost about RM400mil, Bung told a press conference after the signing of palm tissue culture technology transfer agreements between Felcra and the Malaysian Palm Oil Board (MPOB) yesterday.
He pointed out that Felcra was currently on a diversification mode with interest to expand into new businesses, apart from its traditional core plantation business in oil palm, rubber and paddy .
“This year Felcra is planning to bring in overseas investors from the United States and Asean to undertake joint ventures in its new business ventures and also the existing ones,” Bung added.
According to industry observers, Felcra seems to be seriously looking at diversifying into property development given its prime land bank in Kuala Lumpur and Langkawi, iron ore mining at its land bank in Kuala Lipis and downstream related businesses in the palm oil supply chain.
Bung who declined to comment on the group’s new businesses, however, said:
“Most of these new businesses are part of our growth strategy going forward. We
will reveal them in due time.”
On the proposed listing of Felcra or one of its non-plantation based subsidiaries, he said: “Apart from waiting for the Government’s approval, the group is still studying the prospect to list (on Bursa Malaysia). We also believe it is still not the right time to go for listing.”
Felcra currently has 260,000ha planted with oil palm, rubber and paddy. Of the total, 170,000ha is cultivated with oil palms.
Bung said Felcra would continue to expand its plantation operations by acquiring land bank either locally or abroad.
Felcra is also undertaking replanting of about 25,000ha this year.
“Our initial replanting cost is about RM150mil for oil palm, rubber and paddy,” added Bung.
Earlier, at the Felcra-MPOB signing ceremony, MPOB chairman Ar Datuk Wan Mohammad Khair-il Anuar said the pact with Felcra reflected MPOB’s commitment to assist industry players in setting up their own oil palm tissue culture facilities.
He said the use of superior oil palm clones in planting was a strategic approach to boost productivity through increasing the yield of oil and fresh fruit bunches.
For more information on Building and Construction event, please visit www.asiapacificevents.com
On the proposed listing of Felcra or one of its non-plantation based subsidiaries, he said: “Apart from waiting for the Government’s approval, the group is still studying the prospect to list (on Bursa Malaysia). We also believe it is still not the right time to go for listing.”
Felcra currently has 260,000ha planted with oil palm, rubber and paddy. Of the total, 170,000ha is cultivated with oil palms.
Bung said Felcra would continue to expand its plantation operations by acquiring land bank either locally or abroad.
Felcra is also undertaking replanting of about 25,000ha this year.
“Our initial replanting cost is about RM150mil for oil palm, rubber and paddy,” added Bung.
Earlier, at the Felcra-MPOB signing ceremony, MPOB chairman Ar Datuk Wan Mohammad Khair-il Anuar said the pact with Felcra reflected MPOB’s commitment to assist industry players in setting up their own oil palm tissue culture facilities.
He said the use of superior oil palm clones in planting was a strategic approach to boost productivity through increasing the yield of oil and fresh fruit bunches.
For more information on Building and Construction event, please visit www.asiapacificevents.com
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