News & Events


Mass Sale & Purchase signing on Nov 6

Sabah Chief Minister Datuk Musa Haji Aman will witness the signing of Sale & Purchase Agreements between investors and state-owned POIC Sabah Sdn Bhd in Kota Kinabalu on Nov 6, 2006.

Seven investors in biodiesel production, are expected at the ceremony to be held at the Pacific Sutera Hotel from 2pm.

POIC Sabah Sdn Bhd, incorporated in 2005, is developing the 5,000-acre palm oil industrial cluster in Lahad Datu (called POIC Lahad Datu, in short), in southeastern Sabah.

Promotion efforts in the last one year had registered more than 80 inquiries from companies around the world interested in setting up a range of palm oil-related industries from biodiesel to oleo chemical to biomass, and supporting industries such as logistics and chemicals.

The biodiesel plants are due to begin production in the later part of 2007. The combined installed capacity of these plants estimated 700,000 tones per annum, making POIC Lahad Datu one of the biggest biodiesel producers in Malaysia.

The development of POIC Lahad Datu, easily the most significant government-backed project in the area in a long time, is expected to have a massive impact on Lahad Datu in particular, and Sabah in general.

Sabah has more than 1.3 million hectares of oil palm plantation and is the largest palm oil producing state in Malaysia. The Sabah government is determined to optimize the value of this commodity and is vigorously promoting palm oil downstream industries at POIC Lahad Datu.

In recent years, revenue from the oil palm sector contributed some 40% of the State revenue. POIC Lahad Datu is expected to increase the economic importance of this sector.


SIGNING CEREMONY OF SALE AND PURCHASE AGREEMENTS BETWEEN POIC SABAH SDN. BHD. AND POIC INVESTORS

Date: 6 November 2006

Time: 2.00 - 5.00pm

Venue: Grand Ballroom, Pacific Sutera, Kota Kinabalu, Sabah


Please click here to download the program.



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