Sabah's RM30m biomass potential

Kota Kinabalu: Sabah's biomass development agenda will get an added push in September when the State hosts a symposium here.Opportunities in the sector are worth a potential RM30 billion nationwide.

The meet, "The Green Agenda: Investment Opportunities in Bio-based Materials" on Sept 7 at Shangri-la's Tanjung Aru Resort & Spa, will be officiated by the Minister of Industrial Development, Datuk Raymond Tan. The symposium is jointly organised by POIC Sabah Sdn Bhd and EU-Malaysia Chamber of Commerce and Industry (EU-MCCI).

It is supported by Agensi Inovasi Malaysia (AIM), Malaysia Palm Oil Board, Malaysia Palm Oil Council, Malaysia Investment Development Authority and the Sabah Ministry of Industry Development.

Up to 100 participants are expected at the event. A visit to an oil palm mill is being arranged to familiarise foreign visitors.

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CHIEF Minister Datuk Seri Panglima Hajiji Noor’s 2021 Hala Tuju Sabah Maju Jaya Plan and the Sabah Economic Development and Investment Authority (SEDIA) have laid out a road map to an exciting future for all Sabahans, with a target of increasing Sabah’s income levels and GDP per capita from about RM 23,000 to about RM 40,000 by 2030.

Organising spokesperson Lynette Hoo, Senior Manager of Corporate Affairs at POIC Sabah said:

"The symposium is tailored for entrepreneurs looking for investment opportunities in bio-based materials which we (Malaysia and Sabah) have been promoting in the last few years.

"We are bringing raw material owners, technology providers and investors to a dynamic platform as we continue to push our biomass agenda."

Through its National Biomass Strategy 2020, efforts by Malaysia Biotechnology Corporation and other agencies, Malaysia has been vigorously pushing to develop its bioeconomy.

It is done through utilisation of the estimated 100 million tons of biomass from the country's oil palm sector, among others.

Sabah, being the largest palm oil producing State in Malaysia, is estimated to have about 30 million tons of biomass which can be processed into renewable fuels, fertilisers and high-value bio- chemicals.

At the Lahad Datu palm oil industrial cluster (POIC Lahad Datu) which is being developed by POIC Sabah, a biorefinery cluster is taking shape.

"Sabah Biomass Industry Development Plan" is one of the six papers to be presented at the symposium.

The plan, funded by AIM, is being finalised following the completion of a study last July.

Tawau-based Teck Guan Group which is at the forefront of Sabah biomass efforts, will present its perspective on "Biogas, Biofuel, Biochemicals & Feed Ingredients".

The other papers are "Markets for Bio-based Materials" by Singapore-based research firm Lux Research; Meeting Sustainability Expectations and Development and Implementation of European Bio Industry Projects.

EU-MCCI, set up in 2003, has its secretariat in Kuala Lumpur.

With membership comprising 1,088 corporations, its aim is to promote, support and develop EU business interests in Malaysia as well as facilitate trade and investments.

"This will be the first forum for industry players in Sabah to engage directly with players from Europe," said Lynette.

"It is timely because we in Sabah and POIC are aggressively pushing for new frontier in biomass utilisation.

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"Europe is a big market for the finished products."

The closing date for registration is Aug 25. More information can be obtained from Maslah ([email protected]), Suzanne ([email protected]) or Adrina ([email protected]).

Try 1 month for RM 18.00

Try 1 month for RM 18.00

Try 1 month for RM 18.00