Malaysian firm eyes $1-B investments in Mindanao palm oil plantation-refinery » Manila Bulletin Business

Manila Bulletin Philippines

Breaking News from the Nation's leading newspaper


Online Newspaper

Showbiz and Celebrity News

Sports News

World News
News Asia

Malaysian firm eyes $1-B investments in Mindanao palm oil plantation-refinery


By Madelaine B. Miraflor

The Philippines is close to securing the largest investment in the agriculture sector coming from a Malaysian firm, Alif Agro-Industrial, Inc., which is planning to expand its presence in the country and put up a palm tree plantation and oil refinery in Mindanao that could be  worth US$1 billion.

Philippine Economic Zone Authority (PEZA) Director-General  Charito Plaza,, said Alif committed to invest as much as US$1 billion for a palm tree plantation and oil refinery in Agusan Del Sur.

She said Alif wants to plant palm trees in as much as 128,000 hectares of land in the province, covering three areas including municipalities of Rosario, Esperanza, and Bunawan.

“Actually, the company has been wanting to invest here since five years ago but it doesn’t know where to go until it learned about PEZA,” Plaza said in an interview.

Plaza said she will go to Malaysia next month to meet the executives of Alif.

“The company would want me to see their refinery of palm oil and plantations and to have a talk with the Philippine government on how we can help one another to realize a and implement fast this [investment opportunity],” she further said.

Alif currently has oil palm plantations in Palawan, Agusan del Norte, and North Cotabato.

It was earlier reported that Alif is also eyeing a 10,000-hectare oil palm plantation in Malungon, Sarangani.

Muhammad Kamarul Osman, the company’s president, met with Malungon Mayor Maria Theresa Constantino in August to convey his company’s intention to expand its palm oil plantation in Malungon town.

As a response, Constantino ordered concerned local government offices to assist the company in looking for areas within the locality that could be leased to Alif Agro.

Tags: , , , , , ,

Related Posts

  • makatao63

    They took sabah now they will destroy our land. Palm oil is a bad investment in the environment per se. Think again before they destroyed our land and air!

    • R_RR

      Wrong analogy.

  • FredP

    There is a Netflix documentary regarding Palm trees and palm oil and its effect on wild life animals and global warming. No to Palm Oil plantation!

    • R_RR

      Malaysia and Indonesia earned billions of dollars from palm oil, reduced their poverty line, improved the lives of ordinary citizens and eventually pushed up their GDP.

      • FredP

        Have you watched the Netflix documentary? Please DO watch it and let me know your thoughts okay?

  • Victor Alva

    Open your Google map. Activate Earth or satellite image. Zoom to Sabah, to the coastal area of Sandakan. Now pan towards southwest following the coastline to Bandar Seri Begawan and then farther southwest to Kuching… pan farther south. Now go back to the Philippines, then zoom in to Laguna de Bay… What did you observed?

  • dee

    It is not only bad to the environment. It will also affect farmers who engage in coconut industry. It will mess up the environment and the farmers livelihood. Its should be a big NO!

  • R_RR

    This is good! Many people will be lifted out of poverty.
    The country would earn billions of dollars and enhance the GDP.