Tuesday, November 29, 2011

Hii King Chiong family companies profit from nearly 1,000,000 acres in Sarawak

Rinwood Sago Plantation Sdn Bhd, Delta Padi Sdn Bhd and Borneo Agri-Resouces Sdn Bhd are among the many companies owned by the Foochow Hii family.  These 3 companies alone are presently profiting from nearly 200,000 acres of Plantation approval in Sarawak.  It is reported that Rinwood Group has nearly 800,000 acres in LPF and TL for cutting timber in Sarawak.  With turnover of over a billion annually the group profits in the hundreds of millions every year.

Hii King Chiong have now entered mainstream politics by trying to capture the SUPP (Sarawak United People's Party) Piasau, Miri branch chairman post.  Hii family and the multi-billion group Rimbunan Hijau are backing Wong Soon Koh to take over SUPP.

With the promise of getting hundreds of thousands of acres more if Wong Soon Koh takes control of SUPP then the Kingwood Group of Companies will be elevated to the multi-billion category.

Tuesday, November 22, 2011

Rimbunan Hijau adds Mineral Wealth to its logging wealth in Papua New Guinea

Siburan Resources (ASX: SBU) is focused on the discovery of gold and uranium deposits in the Kalgoorlie region of Western Australia, and also has projects in New Zealand targeting tungsten and gold.

Following the listing of Siburan Resources in May 2010, the company's current primary focus surrounds the development of its key projects, the Mt. Pleasant Gold Project and the Goongarrie/Lake Marmion Uranium project. It has also expanded its portfolio of gold and uranium projects with the acquisition of the Canegrass project and the expansion of the Lake Marmion Uranium tenements.

Siburan Resources adds PNG exploration JV with RH Resources to its portfolio

Tuesday, November 22, 2011 by Proactive Investors
Siburan Resources adds PNG exploration JV with RH Resources to its portfolio
Siburan Resources (ASX: SBU) has turned up the heat, entering a joint venture with RH Resources Limited to seek and acquire mineral exploration and mining tenements in Papua New Guinea.

The association with RH Resources is paying dividends as in November, the company took a placement of 10 million shares in Siburan as part of a capital raising becoming a substantial holder in Siburan.

RH Resources is associated with Malaysia's Rimbunan Hijau Group, one of Malaysia’s largest multi-industry companies.

Under the agreement, Sibruan will hold a 30% share of the joint venture and RH will hold the balance of the joint venture. Funding of the JV will be on a pro-rata basis in proportion to holdings.

PNG is the one of the world’s most prospective regions for mineral wealth and currently has several world class operating mines including Porgera and Mt Kare.

Siburan Resources’ managing director, Mr Noel Ong said, “We are very excited to be working with RH Resources as we intend to be a significant mineral exploration player in PNG. PNG is a world class resources area, rich in precious and base metals such as gold, copper and nickel.

“Papua New Guinea is famous for its large multi-million ounce gold deposits such as Porgera and Mt Kare. In addition, the recent development of the Hidden Valley and Wafi deposits highlights that there are still large deposits undiscovered or undeveloped.

“We firmly believe that partnering with the RH Resources will allow us to establish ourselves as a major player in a very prospective yet challenging area. We are confident our exploration activities will be well funded and managed given the significant experience of our partner in PNG.”

Siburan will have an active management role in the sourcing and management of the exploration projects.

RH Resources Limited is a Malaysian registered company (under the Labuan Company Act 1990) in which the sole director and shareholder is Mr David Chiong Ong Tiong. Mr David Tiong is also the executive director of the Rimbunan Hijau Group (“RH Group”).

The RH Group is one of Malaysia’s largest multi-industry companies operating and controlling many industries in many countries around the world. It has established a successful presence in PNG for 22 years. The group was established in 1975 and has an estimated annual turnover of more than 1 billion US dollars, according to the Malaysia-China Business Council.

Wednesday, November 16, 2011

Yaw Teck Seng and Yaw Chee Ming has nearly 2,000,000 acres land in Sarawak

Posted on November 4, 2011, Friday
Lingui had a gross area of 721,000 hectares (over 1,780,870 acres) of forest concession in Sarawak and about 35,000 hectares of forest plantation in New Zealand.
“We are focusing on logging  here (Sarawak), because the maturity period for the trees in Malaysia is shorter, which is only 10 years compared with our forest plantation in New Zealand, which takes 27 years to mature,” said group managing director Yaw Chee Ming at a press conference after the company’s annual general meeting (AGM) here yesterday.
“So far we have planted about 30,000 hectares and we target to plant between 10,000 and 15,000 hectares, in order to increase our production,” he said.
Log trading is Lingui’s major business segment accounting for about 34 per cent of the group’s total revenue for the year ended June 30, 2011.
China and India were the biggest export markets for the period, consuming 36 per cent and 24 per cent, respectively, of Lingui’s log production.
China’s demand for both hardwood and softwood logs remained steady fuelled by its buoyant economic growth and continued expansion in the housing and infrastructure sector.
India’s demand for imported hardwood species remained robust driven by a construction boom to meet demand for housing in urban areas.
Meanwhile, Yaw, in a statement issued after the AGM said both the group’s hardwood and softwood log export prices were 18 per cent and 20 per cent higher than the preceding financial year, with notable sharp price and gross profit margin run-ups noted during the fourth quarter in response to the Japanese earthquake in March.
Moving forward, the company remained cautious as demand for timber normalised and consolidation was expected to take place among industry players.
“There is overstocking of plywood in Japan with the initial spike in plywood imports with no major reconstruction activities taking place,” said Lingui.
Hence, the group’s performance would largely depend on the recovery in Japan through its post-earthquake reconstruction activities and continued stable demand for logs from China and India, said Yaw.
“We believe when Japan’s rebuilding efforts intensifies it will require substantial volume of timber and that would drive demand and prices for both logs and plywood,” he added.

Friday, November 11, 2011

James Ling and Hasmi Hasnan-owned Dayang Berhad with over 1.5 Billion contracts wants more

Thursday, 03 November 2011 15:18

KUCHING (Nov 3): Sarawak-based oil and gas services provider, DAYANG ENTERPRISE HOLDINGS BHD [] (DEHB), expects further growth after chalking up successful quarters on strong order book of RM1.5 billion until 2016.

Its executive chairman, James Ling, said on Thursday the company, listed on the Main Market of Bursa Malaysia in 2008, recorded a strong second quarter on Petronas Carigali deal.

"The primary enabler of DEHB's success is Petronas' Vendor Development Programme, a programme aimed at providing local contractors with incentives and the confidence to increase their capital base," he told Bernama here Thursday.

He said DEHB's success and accomplishments over the past 30 years were mainly due to the support and guidance from Petronas Carigali, Shell and Murphy Oil.

The monopoly Vendor Develpment Programme programme also allowed DESB to expand its business and become a competitor in the international and local markets, he said.

Ling said DEHB qualified for the programme by bringing in Bumiputera partners.

DEHB started in 1980 as a hardware and manpower supplier with a capital of only RM10,000, four employees and 100 offshore workers.

Today it is a thriving enterprise providing maintenance services, fabrication operations and hookup and commissioning services with 300 employees and 1500 workers deployed to its offshore operations.

Saturday, November 5, 2011

Paul Yu controlled-HSL bags yet another contract to continue profiting from Sarawak Infrastructure Contracts

KUCHING: Sarawak-based Hock Seng Lee Berhad (HSL) has secured a new rural water treatment plant project in the Sarawak Corridor of Renewable Energy (Score) worth RM90.28mil, its managing director Datuk Paul Yu Chee Hoe said today.
He said the contract period for the project, to be constructed in Samalaju 60km north of Bintulu - one of the three growth nodes along the central coastline - would be 17 months with site possession scheduled for next month.
“The project marks the infrastructure and marine engineering specialist's first successful tender result for a project to be directly awarded by the Regional Corridor Development Authoriy (Recoda) and we hope there will be more,” he said in a statement.
He said the project scope includes substantial mechanical and electrical works, earthworks, drainage and retaining structures, piling, piping and construction of the treatment plant and associated works.
These invlove the construction and commissioning of a pump house, chemical house, aerators, flocculation tanks, sedimentation tanks and other filtration process facilities, he said.
Designated as the state's new heavy industry hub, Samalaju is a growing township that has seen a recent influx of foreign investors engaged in metal-related production while Recoda is responsible for spearheading, managing and promoting the Score development. - BERNAMA