Pusaka Timber Industries signs MoUs with 2 Chinese companies involving RM1.8 bln total investment

Awang Tengah (sixth right) photographed with others during the MoU signing ceremony in Chengdu, China.

By DayakDaily Team

KUCHING, May 28: Pusaka Timber Industries Sdn Bhd recently signed two memoranda of understanding (MoUs) with two Chinese companies to conduct a detailed commercial evaluation of development on bamboo plantation, pulping and fibre-based products in Sarawak.

According to a press release, the MoUs signed with G-Cove Technologies Co Ltd and Sichuan Vanov New Materials Co Ltd will involve an estimated total investment of about RM1.8 billion or USD400 million.


Deputy Premier of Sarawak Datuk Amar Awang Tengah Ali Hasan views that this strategic alliance can capitalise on each other’s strength to gain competitive advantage in high value-added bamboo-fibre based products in the global market.

Apart from capital inflow, he said it will promote technology transfer, knowledge transfer and employment opportunities.

“A technical committee comprises of the relevant agencies will be formed to oversees the completion of the feasibility study,” he said during the MoUs signing ceremony in Chengdu, China recently, according to a statement.

Joining Awang Tengah during the ceremony were Sarawak Deputy Minister for Urban Planning, Land Administration and Environment, Datuk Len Talif Salleh; Special Advisor to the Sarawak Ministry of International Trade, Industry and Investment (MINTRED), Dato Sri Mohd Naroden Majais; Sarawak Timber Industry Development Corporation (STIDC) general manager Zainal Abidin Abdullah, and other government officers.

Pusaka Timber Industries Sdn Bhd is a subsidiary of PUSAKA Capital Sdn Bhd, with its core business being the timber-based processing industry in Sarawak. Currently, Pusaka Timber Industries is exploring investment opportunities in the bamboo-based industry in Sarawak.

Meanwhile, Sichuan Vanov New Materials Co. Ltd has integrated pulping and bamboo-fibre based products in Meishan, China. In addition, they also develop bamboo planting through commercial plantations and community farming.

With the growing demand for eco-friendly bamboo-fibre based products like tissues, wet wipes, moulded boxes and diapers, Sichuan Vanov New Materials Sdn Bhd is considering Sarawak as a base to expand its capacity to meet market demand.

On the other hand, G-COVE Technologies Co Ltd produces moulded boxes for food, medical and industrial packaging utilising bamboo pulp produced by Sichuan Vanov New Materials Co Ltd.

They are planning to expand their production capacity for halal certified moulded boxes to cater to high demand from Muslim markets. – DayakDaily