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Indonesia,Malaysia : TDM making aggressive investments since 2004 for expanding its operations

June 5, 2014

The Chairman of TDM Bhd - Tan Sri Datuk Wan Abu Bakar Wan Omar has disclosed that since 2004 the company, which is under the control of the State Government, has made RM500 million investments in order to expand its businesses, including increasing its oil palm hectarage by twofold and hospital operations by threefold within the year 2022.

The Chairman added, "We are confident TDM is on the right track. We are in a strong financial position and have a good management team with a proven track record of transforming and developing the company's core businesses."

He has made these revelations before media subsequent to the 49th AGM of TDM here in Terengganu on Tuesday.

Wan Abu Bakar has revealed that the company hopes to increase its plantations, both in the State and in Kalimantan, to 100,000 hectares from 32,000 hectares now.

TDM has 11,738 hectares of plantations in Kalimantan, with strategy to plant 5,000 hectares yearly for making oil palm. The company is also hopeful of the first harvest from the 1,500 hectares of plantations, which was cultivated in 2009, from the current year.

These will facilitate the Indonesian province to become the key provider of its mid-term plantation revenue. Moreover, TDM is now involved in the construction of a palm oil mill in the province with RM80 million investments and the plant is likely to be up and running in 2015, according to Wan Abu Bakar.

Besides these, a new sterilisation system is being set up at the group s facilities in Setiu and Kemaman intended at reducing operation expenses. Moreover, the company's second biofertiliser facility in Kemaman is slated to start operations in this August, and this site is expected to reduce the firm's non-organic fertiliser costs by 20% per annum.

TDM Plantation Sdn Bhd (TDMP), the subsidiary of the group, has received the Roundtable on Sustainable Palm Oil (RSPO) certification in last November.

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Source: TendersInfo (India)