Thursday 28 Mar 2024
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KUALA LUMPUR (Jan 29): Sime Darby Plantation Bhd (SDP) and Sarawak Land Consolidation and Rehabilitation Authority (SALCRA) have signed a memorandum of understanding (MoU) today to form a collaborative framework to establish, strengthen and encourage synergistic commercial cooperation along the palm oil value chain.

According to SDP's filing with Bursa Malaysia, the collaboration is intended to "uplift Sarawak's palm oil industry standards in terms of operational efficiency and productivity through best agronomic practices and to inculcate and enhance sustainability awareness for higher operational performance and bottom-line achievement".

Under the MoU, dedicated SDP and SALCRA teams intend to combine their resources and expertise to jointly collaborate, evaluate and research on matters relating to the palm oil value chain.

The MoU also includes any other activities that are mutually beneficial to both companies such as logistics and activities connected to rubber plantation and other agricultural businesses.

It was signed by SALCRA's acting general manager Joseph Blandoi and SDP's chief strategy and innovation officer Dr Shariman Alwani.

The signing ceremony — held at SALCRA Head Office in Kota Samarahan, Sarawak — was witnessed by Sarawak deputy chief minister and SALCRA's chairman Datuk Amar Douglas Uggah Embas, permanent secretary for Ministry of Modernisation of Agriculture, Native Land and Regional Development Datu Ik Pahon Joyik, as well as SDP's executive deputy chairman and managing director Tan Sri Mohd Bakke Salleh.

At the midday break today, SDP dipped 0.96% or 5 sen to RM5.13 with 1.4 million shares traded.

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