MIRI: The Sarawak State Mosque Welfare Trust Board (LAKMNS) now holds almost all equity in Lubuk Tiara Sdn. Bhd.
Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg said this followed a restructuring exercise and the acquisition of the plantation from Rimbunan Hijau (RH).
“Recently, we carried out a restructuring of the company, through which LAKMNS has taken a stake in it. They have now taken over the equity previously held by RH.
“This means the entire operations of the company are now under Lubuk Tiara, and its equity is now almost fully under the board,” he said.
He said this during a press conference held in conjunction with his official working visit to Lubuk Tiara Sdn. Bhd. here on Wednesday.
He added that several proposals have been put forward to diversify the company’s income streams in ways that will also benefit the surrounding communities.
“It does not have to rely solely on oil palm, but can also include other ventures that produce by-products such as biomass, the planting of alternative crops, green economy initiatives and circular economy opportunities.
“For example, we can use oil palm waste to produce livestock feed,” he said.
He noted that such efforts would indirectly help nearby residents earn an income through livestock rearing.
