KUALA LUMPUR (March 11): The Pahang state government has granted Ultimate Ivory Sdn Bhd, a wholly-owned subsidiary of BHS Industries Bhd, a 26-acre plot of land in Pekan to develop the first phase of the Pekan Green Technology Park.

In a filing with Bursa Malaysia today, BHS Industries said the Pahang state government had on March 10, approved and granted the piece of land in Kg Paloh Hinai, Lepar in Pekan to its unit yesterday (March 10).

“The manufacturing facilities will include among others, a paper mill factory using a patented technology called preconditioning refiner chemical-recycle bleached mechanised pulp, and is targeted to be completed in the first half of 2017,” the filing read.

BHS Industries said the development of the park forms part of its diversification of business activities to transform and diversify its existing core business to include the manufacturing of renewable pulp products, using empty fruit bunches from palm oil trees.

The company said shareholders had approved its plans for diversification during an extraordinary general meeting (EGM) held in July last year.

BHS industries closed 2.5 sen or 4.9% higher at 53.5 sen today, with a market capitalisation of RM207.88 million.