News & Events

Forum On Investment Opportunities In Biodiesel In POIC,
Lahad Datu

KOTA KINABALU, Friday (April 28, 2006).... A first ever forum will be held here this May 5 to create broader awareness of investment potentials in palm oil-based biodiesel industries in Sabah.

Dubbed the 'Forum on Investment Opportunities in Biodiesel in Sabah", the forum is being organized by state-owned POIC Sabah Sdn Bhd, which is promoting palm oil downstream industries at Malaysia's first palm oil industrial cluster at Lahad Datu.

The half-day forum starts at 9.00a.m at the mini theatre of the Sabah Trade Centre, along Jalan Istiadat, Likas.

More than 200 people from the oil palm industry, business groups, government officials and non-governmental organization representatives are expected at the forum, to be declared open by Minister of Industrial Development, Datuk Dr Ewon Ebin.

The Minister will be delivering a keynote address at the forum expounding the importance of optimizing the earning potentials from palm oil, of which Sabah is Malaysia's top producing state, said POIC Sabah Sdn Bhd in a statement.

It added that the Sabah business community in particular and the public in general need, to be informed of the vast investment potentials in palm oil downstream industries, especially in biodiesel.

"The sharp increase of prices of petroleum prices has made development of alternative fuels more urgent. There is a clamouring among major players in the oil palm industry to jump on the biodiesel bandwagon.

"Sabah is well placed to capture a piece of the action, and we feel business people in the state should have the benefit of a thorough briefing on the subject, as well as the wide array of palm oil-related investment."

The main speaker at the forum will be Kota Kinabalu-based engineer Ir. Vincent Tan, who is the project consultant for POIC Sabah Sdn Bhd's cluster development in Lahad Datu.

Tan has traveled extensively to China, Europe and India to make in-depth study on existing biodiesel production facilities as well as assessing future trends in alternative fuels, especially bio-fuels from palm oil.

Tan's talk will be followed by a dialogue session with a panel comprising Datuk Dr. Ewon, his Ministry's Permanent Secretary, Ismail Abdullah and POIC Sabah Sdn Bhd's Chief Executive Officer, Dr. Pang Teck Wai.

POIC Sabah estimates that the palm oil produced in Sabah (5.33 million tones in 2005) has a potential of generating up to RM100 billion in economic values if its downstream potentials are fully exploited.

It asserts that Sabah's economic future lies in developing fully the potentials of palm oil because the State has seen potentials in timber and cocoa-based industrialization came and went in the last three decades.

The company's Lahad Datu POIC is completing its first phase of development covering about 600 acres, which are ready to be sold to investors. The project, which will be developed within a 10-year period, will eventually cover over 2,500 acres of land about 4 km outside Lahad Datu Town.

Since POIC Sabah Sdn Bhd began operation in July last year, the responses it has been receiving from potential investors have been positive. Interests were shown in biodiesel (21 companies), palm oil refinery (8), oleochemical plant (3), fertilizers plant (4), power generation (2), bulking facilities (1), palm kernel crushing (3), cocoa butter substitute (1), phytonutrients (1), glycerine (2) and warehousing.

Date : 5th May 2006
Time : 9.00 a.m.
Venue : Mini Theatre, Sabah Trade Centre,
Jalan Istiadat, Teluk Likas
Kota Kinabalu, Sabah
Programme Agenda
9.00 am : Arrival of participants
9.20am : Arrival of YB Datuk Dr. Ewon Ebin
Minister of Industrial Development & Chairman of POIC Sabah Sdn Bhd
9.30am : Welcoming Speech
By YB Datuk Dr. Ewon Ebin
9.40am : Forum On Investment Opportunity In Biodiesel In POIC, Lahad Datu
By Ir. Vincent Tan, (Consultant Engineer, POIC - Perunding Pertama)
10.30am : Discussion
11.00am : End of Programme

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