MALAYSIA: RM 50mil rubber factories planned in Sarawak
Source: Daily "The Star", Kuala Lumpur; 15 Apr 2006
KUCHING: Titi Latex group and Guangdong Agribusiness
Group Corp of China plan to jointly invest up to
USD 50mil in factories to process and produce rubber in
Their first investment would be a USD 17mil Standard
Malaysia Rubber (SMR) processing factory to produce
latex concentrate, said Deputy Chief Minister Tan Sri
Dr George Chan Hong Nam.
He said the two firms would help revamp and
commercialise Sarawak's rubber industry and develop
its downstream processing sector. They later planned
to invest a further USD 30mil in a rubber glove
factory, he added.
Guangdong Agribusiness and peninsula-based Titi Latex
signed a tripatite memorandum of understanding with
the Sarawak Agriculture Department on modernising the
state's rubber industry on Wednesday. Details of the
venture are being worked out.
Titi Latex, which operates an SMR factory in Kedah,
already has several joint ventures with Guangdong
Guangdong Agribusiness is a world leader in the rubber
industry. It is involved in the development of rubber
estates and operates modern rubber processing
factories in China.
(Syed Rashid Ali, Karachi, Pakistan)