Prinsiptek unit in bid to build port facilities in Sabah

By TMR

Prinsiptek Corp Bhd, in an exchange filing yesterday, noted its wholly-owned unit, Tanah Perangsang Sdn Bhd (TPSB) will be contracted by TTSJ Trading Sdn Bhd (TTSJ) to build a port, jetty, bulking storage tank, housing, palm oil mill and refinery and green energy plant for RM2.13 billion.

A joint venture agreement has been signed between TPSB, TTSJ and AA Strategic Marketing Inc Sdn Bhd to that end is subject to the getting regulatory approvals from Sipitang District Council in Sabah; the Malaysian Palm Oil Board; the Land office and other relevant authorities.

On Jan 15, 2019, TPSB entered into a joint venture agreement with AA Strategic and TTSJ to develop a oil palm plantation and palm oil mill at Lawas, Sarawak, and construct a  port, jetty, bulking tank at Sipitang Port, Sabah.