Kulim (Malaysia) Berhad (“Kulim”) traces its history back to 1933 when Kulim Rubber Plantations Ltd was incorporated in the United Kingdom. Kulim was later incorporated as a public limited company and was listed on Main Board of the Kuala Lumpur Stock Exchange (now known as the Main Market of Bursa Malaysia Securities Berhad) in 1975. In 1976, Johor Corporation became the major shareholder of Kulim.
Over the years, Kulim has grown to become a diversified plantation company and continues to strengthen its position by securing new hectarages whilst developing and strengthening its intrapreneur ventures. At end-2013, Kulim once again made its way into Indonesia with the acquisition of 74% equity in PT Wisesa Inspirasi Nusantara, a plantation holding company in Indonesia with approximately 40,000 hectares of potential oil palm land in Central Kalimantan. With the completion of this strategic acquisition, as at the time of writing, the Kulim Group’s direct and indirect landholding stands at approximately 226,000 hectares, spread across Malaysia, Papua New Guinea, the Solomon Islands and Indonesia.
Kulim is recognised as one of the leading palm oil company with operations span over Malaysia, Papua New Guinea, the Solomon Islands and the recent addition, Indonesia. Kulim was amongst the earliest palm oil producers to be certified to the Roundtable on Sustainable Palm Oil (“RSPO”) standard. Our management and growth strategy is fundamentally guided by Vision “30:30”, which aims to raise fruit yields to 30 tonnes per hectare and palm product extraction rates to 30%, balanced with sustainable development principles.
through Kulim emerged with a strengthened balance sheet and is strongly poised to make inroads into the market segments in which it operates as well as new areas of opportunity especially in servicing the Oil & Gas sector and undertaking selective property development.
However, notwithstanding the new frontiers to be explored and developed, Kulim’s core growth driver going forward will still primarily be its Malaysian plantation business, supported by the results of its associate company NBPOL.
Established as one of Kulim’s principal growth thrust, Intrapreneur Ventures (“IV”) Division is involved in a diverse range of businesses including shipping and logistics, support operations for plantations, including agricultural machinery, oil palm nursery and mills maintenance, support operations for O&G sector including Non Destructive Testing (“NDT”) and pipe rolling mill, facilities management and civil works as well as IT-related services. The selections of IV companies are subject to a systematic process, management and control to ensure they continue to deliver value and returns to the shareholders. They will be developed and nurtured, with the aim to subsequently transform into strategic business division of the Group.
Our business portfolio is a progressive development from our traditional business of palm oil, pursued in line with our aim to sustain value creation for all our stakeholders via the adoption of an evolving and balanced business mix.
While plantation and agriculture will dominate our business profile, we will continue to explore, identify and invest in businesses that offer superior long-term potential for growth and profitability, with the aim to minimise earning fluctuations so as to enable the Group to provide attractive returns to our shareholders. Kulim is confident in carving a new growth path with its experience and proven ability to develop businesses, including those outside its traditional palm oil business.
Driven by its Balance Business Strategy, Kulim is uncovering opportunities in a new business dimension - Oil and Gas (“O&G”) sector, upstream and downstream, in the quest to business growth and value deliverance to its shareholders. Our pursuit of value and growth is firmly underpinned by our commitment to embrace sustainability and strong corporate governance as the overriding philosophy.
As a socially and environmentally responsible corporate citizen, Kulim embraces the principles of sustainable development and has continued to work towards demonstrating sustainability throughout our operations.
We recognise sustainability as an opportunity to change the way we do our business. Our Sustainable Palm Oil (“SPO”) programme defines its ultimate objective as to improve Kulim’s business performance and profitability as well as positioning Kulim as a world leader in S PO. Our efforts with regards to sustainable development will continue to guide our business.
We hope that by being mindful of our surroundings and the socioeconomic impact of our actions, we will move forward by developing business methods that are economically viable, environmentally appropriate and socially beneficial.