BP Plastics Holdings Bhd expects to get an approval from the Cambodian government soon to start a rubber plantation there.
BP Plastics decided to venture into rubber cultivation in Cambodia due to the availability of arable land and the low cost there.
The company had acquired 100% interest in BPPlas Plantation Sdn Bhd in June 2010 and set up a wholly-owned subsidiary, Baoman Rubber Ltd, in October. It had applied for concession rights to cultivate rubber trees on 10,000ha government-alienated land in Mondulkiri, on the northeast of Cambodia.
For the financial year ended Dec 31, 2010, BP Plastics registered a net profit of RM17.13mil on revenue of RM220.75mil compared with RM15.61mil and RM175.21mil respectively in the previous year.
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