BLD refinery to start ops soon
By JACK WONG
KUCHING: BLD Plantation Bhd expects to produce several oil palm-based products when its refinery and dry fractionation plant in Tanjung Kidurong Industrial Estate, Bintulu, is commissioned in six months.
Executive chairman Datuk Henry Lau Lee Kong said the two downstream processing facilities would produce refined bleached and deodorised palm oil olein, stearins and fatty acids distillate for export.
Its wholly-owned subsidiary Kirana Palm Oil Refinery Sdn Bhd owns the two facilities. Each will have a capacity of 1,200 tonnes a day. The company has invested over RM100mil in the two projects.
“With the commissioning of the plants, the group is moving towards becoming a greater integrated oil palm concern, with upstream planting and downstream processing,” Lau said after the company AGM yesterday.
He said the group would start construction soon on a proposed kernel crushing factory near the palm oil refinery site, which was expected to begin operations next year.
Another wholly-owned subsidiary, Bintulu Lumber Development Sdn Bhd, operates a mill producing crude palm oil (CPO) and palm kernel.
Lau said about 40% of the fresh fruit bunches processed by the mill were from other plantation companies.
“We expect to invest RM10mil this year in new planting,” Lau said, adding that the group had more than 31,000ha in Miri, Sibu and Mukah divisions, which it had yet to develop.
He said the group was awaiting approval from the relevant authorities on its proposed acquisition of a 49.9% stake in Wawasan Sedar Sdn Bhd, which is involved in oil palm plantations, milling and sales of related palm oil products and in trading of logs.
He said the completion of the acquisition would add nearly 17,000ha of oil palm estates to BLD Plantation, enhance the group’s milling division and increase its internal source of CPO for the group’s refinery.
BLD Plantation posted a net profit of RM16mil on revenue of RM134mil for the financial year ended Dec 31, 2006.
At the AGM, shareholders approved a final dividend of 10 sen per share.
