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South Korea Ambassador & Korean Business Delegation Visit

KOTA KINABALU: A Korean business delegation led by South Korea's Ambassador to Malaysia, His Excellency Yang Bong Ryull, visited POIC Sabah Sdn Bhd on Feb 13, 2008.

The delegation, comprising top officials from major Korean companies, is on a fact-finding mission to Sabah to explore business investment opportunities in tourism, palm oil-related industries and property development.

Among the companies represented are Ssangyong Engineering & Construction Co., Woori Investment & Securities, Tropical Chase Sdn Bhd, Global Bio-Diesel Sdn Bhd, Borneo Golf Resort Sdn Bhd and Korean Air.

Seoul-based Eco Solutions Limited is among the first companies to invest in the Lahad Datu palm oil industrial cluster (POIC Lahad Datu). Its wholly-owned Global Bio-Diesel Sdn Bhd's biodiesel plant in POIC Lahad Datu began production last year. It has an installed capacity of 150,000 metric tonnes of biodiesel per year and is among the biggest biodiesel plants in Malaysia.

The second Korean company to invest in POIC Lahad Datu is Eco Biomass Energy (EBE) Sdn Bhd, a subsidiary company of Seoul-based Eco Frontier Ltd. EBE will invest RM350 milion in a combined heat and power plant to produce steam and electricity by using oil palm biomass.

(L-R) Dr. Pang Teck Wai (Chief Executive Officer - POIC Sabah Sdn Bhd) handing over the souvenir to His Excellency Yang Bong Ryull, Ambassador of the Republic of Korean in Malaysia

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