Home > Uncategorized > Genting Plantations buys SPC Biodiesel

Genting Plantations buys SPC Biodiesel

KUALA LUMPUR: Genting Plantations Bhd’s wholly-owned GP Overseas Ltd has bought SPC Biodiesel Sdn Bhd for RM33 million from Australian-listed Sterling Plantations Ltd. 

Three months ago, there were talks that Felda Global Ventures Holdings Bhd (FGV) was also keen on buying up SPC Biodiesel, having already bought a 100,000-tonne per annum biodiesel refinery at Kuantan Port at Pahang for RM34.9 million in April 2013. 

SPC Biodiesel owns a 100,000-tonne per annuam biodiesel plant located in Lahad Datu, Sabah. 

Genting Plantations said, in a filing to Bursa Malaysia yesterday, that the SPC Biodiesel acquisition is in line with its objectives to venture into downstream activities related to palm oil.

  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: