SIME DARBY SIGNS FIRST AFRICAN PLANTATION DEAL

KUALA LUMPUR, May 5 (Bernama) -- World's largest palm oil production
company, Sime Darby Plantation Sdn Bhd, has cemented its first African
plantation deal, following the execution of an amended and restated concession
agreement (CA) with the government of the Republic of Liberia.

The CA, Sime Darby said in a statement, carves out approximately 220,000
hectares of land in several countries in the African republic, namely, Bomi,
Grand Cape Mount, Gbarpolu and Bong for both oil palm and rubber plantations.

Sime Darby will invest RM70 million initially and will commence work on
10,000 ha of land.

The concession will be held for 63 years by Sime Darby Plantation Liberia
Inc., a wholly-owned subsidiary of Sime Darby Plantation.

The deal was signed in Monrovia on April 30th.

Sime Darby president and Group Chief Executive, Ahmad Zubir Murshid said
Africa was the new frontier to develop oil palm plantations due to its abundant
fertile land and a sizeable and able workforce.
-- BERNAMA