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Article: MALAYSIA'S SITT TATT TO DIVERSIFY INTO PALM OIL BIZ IN INDONESIA.
- Article from:
- AsiaPulse News
- Article date:
- August 18, 2009
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KUALA LUMPUR, Aug 18 Asia Pulse - Malaysian company Sitt Tatt Bhd (STB) (KLSE:4359), which is predominately involved in the semiconductor and property industry, is planning to diversify its business into oil palm refining in Indonesia by early next year.
Its Executive Chairman, Dr Mohan M.K. Swami, said the company was currently in talks with several parties to build five palm oil refineries.
It is also negotiating with small Indonesian plantation owners with the view of refurbishing five existing refineries it plans to acquire from them.
Dr Swami said Sitt Tatt would invest about US$100 million for this venture.
"We are looking at 10 ...