TDM to expand land holding in Kalimantan
New Straits Times, May 22, 2010 by June Ramlee
TDM Bhd, a plantation group owned by the Terengganu state government, plans to expand its land area in Kalimantan, Indonesia, in the next seven to nine years.
The chairman of the group, Senator Datuk Roslan Awang Chik, said the company now has a total of 25,000ha in Kalimantan for oil palm plantation and plans to increase it by 80 per cent.
"In Malaysia, we find that land is scarce and that is why we are venturing out and the best place to do that is in Kalimantan and we plan to double the size in the next seven to nine years," Roslan told a press conference in Kuala Lumpur on Wednesday.
The company also has 32,000ha in Terengganu.
Among its other operations, TDM is building new hospitals. The latest hospital the company is building is at Indera Mahkota in Kuantan, Pahang, for RM200 million, which will be completed in 2012.
Meanwhile, the company is still looking for a buyer for its poultry business.
"We are not looking to dispose of it immediately as we are looking for a suitable buyer, whom the farmers can work with. Right now we have at least four parties who are interested to buy over the business," Roslan said.
Earlier, the company reported that its first quarter net profit surged 89 per cent to RM55.9 million this year. This was mainly due to higher yields from its oil palm plantation business.