In Malaysia, the Group owns valuable land with significant property development potential, as well as a substantial minority share of a property-development company.
- 65 hectares of plantation land in Peninsula Malaysia, with property-development premium;
- 40% share of a substantial property-development company, Bertam Properties, near Penang Island, Malaysia, with a land bank of 300 hectares.
Previously, the Group owned six small oil-palm estates in Peninsular Malaysia, totalling around 4,000 hectares which possessed, in varying degrees, property-development potential. Five of these estates were sold with the proceeds being reinvested in Indonesian palm-oil projects.
The remaining Bertam Estate was sold to Bertam Properties Sdn. Berhad, in which the Group retains a 40% interest. Bertam Properties is currently developing this land into housing, industrial and leisure facilities. Of the original land, 107 hectares remains available for development.
It is the Group's long-term aim to realise the value of its property-development assets in order to fund the acquisition or development of further new Indonesian palm-oil projects.