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Genting Group’s oil palm plantation
division is spearheaded by Asiatic Development Berhad (“Asiatic”), a 54.8%-owned
listed subsidiary of Genting Berhad. Incorporated on 29 September 1977, Asiatic
began its venture into the plantation business in April 1980 by acquiring
the Rubber Trust Group, which owned some 13,700 hectares of plantation land in
Peninsular Malaysia. Subsequently, through combined efforts of the Genting Group
and Asiatic, further acquisitions of land bank and palm oil mills were
undertaken in Peninsular Malaysia.
Recognising the scarcity of land in
Peninsular Malaysia, the division started making inroads into Sabah, East
Malaysia in 1985 and began a succession of land acquisitions to cultivate oil
palm. Notable acquisitions in Sabah include the 8,830-hectare
agricultural land near the Sungai Tongod, the 5,611-hectare oil palm estate near
Bukit Garam and the 6,753-hectare of oil palm estates in Kinabatangan in 2001,
2002 and 2004 respectively.
To date, the division has 6 palm oil mills
and a total land bank of over 71,000 hectares, an expansion of more than five
folds from the 13,700 hectares over 20 years ago. Total milling capacity to date
is 255 tonnes per hour.
Whilst plantation business remains the
core activity, Asiatic has also ventured into property development with the
objectives to unlock the potential of its strategically located land bank.
The division provides jobs employment to about 7,300 work
force. Asiatic has grown to become one of the lowest cost crude palm oil producers in
Malaysia. It has established itself as a reputable and reliable crude palm oil producer
in Malaysia.
For further details, please check out
www.asiatic.com.my.
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