KULIM (MALAYSIA) BHD

KULIM (MALAYSIA) BHD

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Company Overview
Kulim (Malaysia) Bhd. operates as an investment holding company that focuses in oil palm plantation and property investment business in Malaysia. The company was incorporated as Kulim Rubber Plantations Ltd (KRPL) in the United Kingdom in 1933 and its registered head office is located in Johor Bahru, Johor, Malaysia.
Kulim (Malaysia) is one of the major players in the palm oil industry in Malaysia. It is also engaged in activities that range from complete operational control over the business to involvement in the management of its group that engages in oil palm planting and cured palm oil processing and manufacturing and selling oleochemicals and rubber products, as well as in the operation of quick service restaurants. The group is also involved in rental office building and development of housing and commercial estate.
The company carries out its operations in Papua New Guinea, the United Kingdom, British Virgin Islands, Indonesia, Australia, and Singapore.
The company’s mission is to excel in delivering value to all its stakeholders through high performance teams who are committed to the highest standards of ethics, integrity and professionalism.
Kulim (Malaysia) is the palm oil business division of Johor Corporation, a public enterprise that plays a major role in several high potential economic sectors including agro-business, industrial development, property and others in Johor.
Business Summary
The principal activities of the Company consist of investment holding, property investment and oil palm plantation in Malaysia. The principal activities of the subsidiaries are investment holding; production of high-yielding oil palm clones by plant tissue culture technology; oil palm plantation; manufacturer of aleochemicals and rubber based products; and provision of management services and consultancy, mechanical equipment assembler and oil palm plantation.
Description and history
Kulim (Malaysia) Berhad’s (Kulim)’s corporate history dates back to 4 July 1933 with the incorporation in the United Kingdom of Kulim Rubber Plantations LtdOn 16 July 1970, Kulim Rubber Plantations Ltd changed its name to The Kulim Group Limited.

On 3 July 1975, Kulim was incorporated as a public limited company and was listed on the Bursa Malaysia (formerly known as KLSE) on 14 November 1975. Johor Corporation (JCorp), formerly known as Johor State Economic Development Corporation (JSEDC) became a major shareholder of Kulim on 2 December 1976 when Kulim shares were issued in exchange for 5,803 ha of oil palm land at Ladang Tereh, Kluang, Johor.

Since then, Kulim has increased its stake in the plantation industry through acquisition of plantation assets and controlling stakes in Malaysian plantation companies. Since 1996, the Company has also spread its wings, with the acquisition of oil palm plantation companies in Papua New Guinea namely New Britain Palm Oil Ltd (NBPOL) and in Indonesia, PT Multrada Multimaju and PT Padang Bolak Jaya.

Apart from plantations, Kulim also ventured into property development and manufacturing activities. In 1984, through its subsidiary Advance Development Sdn Bhd, Kulim launched its first housing development project namely Taman Bukit Tiram. In 1996, Kulim acquired a controlling stake in a well established property development company, Johor Land Berhad (JLand), which was subsequently listed on the Bursa Malaysia.

Kulim’s involvement in manufacturing activities took off in 1990 through the acquisition of Skellerup Industries (Malaysia) Sdn Bhd (SIM). The principal activity of SIM is manufacturing of latex and siliconebased swimming caps and balloons. SIM’s products are exported to the US, Canada, Europe, Australia and Asia, accounting for nearly 60% of the world market.

Kulim’s diversification efforts gained new ground with the acquisition of Natural Oleochemicals Sdn. Bhd. (NatOleo), a manufacturer of oleochemicals, in July 1994. The NatOleo plant was expanded from its initial operating capacity of 45,000 tonnes per annum to its current capacity of 150,000 tonnes per annum.

In its quest to be an environmental-friendly organisation, in December 2002 Kulim acquired a 30% stake in AsiaGreen Environmental Sdn Bhd, a company involved in the commercial production of compost from oil palm empty fruit bunches. The compost is being utilised as organic fertilisers in Kulim’s oil palm plantations.

During 2003 the Group presented to shareholders the proposal to purchase from the Johor Corporation a 62.03% equity interest in Kumpulan Bertam Plantations Berhad (KBP) for a purchase consideration of RM15,060,000 and a 100% equity interest in EPA Management Sdn Bhd (EPA) for a purchase consideration of RM80,000,000. The acquisitions were completed on 6th July 2004.

Kulim currently owns 148,460 hectares of oil palm plantations in Malaysia, Indonesia and Papua New Guinea.

Incorporated as Kulim Rubber Plantations Ltd (KRPL) in the United Kingdom

Business Line
Operates as an investment holding company that focuses in oil palm plantation and property investment business
Subsidiary
ASIA GREEN ENVIRONMENTAL SDN BHD
Advisor
KPMG
IPO date
11/14/1975
US SIC Code
2079
Company Address
SUITE 12B, LEVEL 12,
MENARA ANSAR,
City province or state postal code
80000, JOHOR DARUL TAKZIM
Phone: +60 7 226 7692/ 226 7476
Fax: +60 7 222 3044
Country address: MALAYSIA
Website url: www.kulim.com.my

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