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KOTA KINABALU, Thurs. (July 12, 2007) -- Sabah's first dedicated palm oil industrial cluster welcomes its first bulk storage investor as its first biodiesel plant gets ready to be commissioned.

Petrobase Resources Sdn Bhd, a supplier of petroleum products, signed a sale and purchase agreement with state-owned POIC Sabah Sdn Bhd today to confirm its plan to invest RM65 million in five acres of land in the industrial cluster in Lahad Datu.

Petrobase Resources, a subsidiary of Sukimi (M) Sdn Bhd, joins 11 other companies who have a planned investment of RM1.14 billion at the 1,150-acre cluster specifically developed for downstream palm oil processing industries.

Among the investors in POIC Lahad Datu are biodiesel and fertilizer manufacturers, logistic companies, bulking installations and refinery.

The first investor to go into operation will be SPC Biodiesel Sdn Bhd, a joint venture between Malaysian and Australian investors, whose biodiesel plant was completed recently and is expected to go into production soon.

Sukimi (M) Sdn Bhd is an established supplier of petroleum products in Malaysia with depots in Kelantan, Johor, Kuala Lumpur, Perak and Sarawak. It hopes to expand its customer base to include investors in POIC Lahad Datu as well as consumers throughout Sabah.

Exchange of S&P Agreement between Datuk Ahmad Sukimi Ibrahim, CEO of Petrobase Resources Sdn Bhd and Mr. Ismail bin Abdullah, POIC Board of Director

Group Photo Session

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