Tuesday July 6, 2010
Malaysia's Sugar King Kuok has gone global
By IZWAN IDRIS
izwan@thestar.com.my
Wilmar buys Aussie sugar maker
PETALING JAYA: The Sugar King has gone global.
Months after Tan Sri Robert Kuok-controlled PPB Group Bhd sold its entire local sugar operations to Felda, the billionaire once dubbed the Sugar King of Malaysia acquired Sydney-based CSR Ltd’s sugar business for A$1.75bil (RM4.73bil).
The deal gives Singapore-listed Wilmar International Ltd control over half of Australia’s raw sugar output.
Wilmar, headed by Robert Kuok’s nephew Kuok Khoon Hong, is 18.34% owned by PPB Group. The two firms are controlled by Kuok Brothers group of companies.
“This latest acquisition proves that Wilmar is well on its way to becoming a dominant global sugar player and will significantly raise the possibility of the injection of Robert Kuok’s sugar business into Wilmar,’’ OSK Research analyst Alvin Tai said in a quick update on Wilmar after the deal was announced yesterday.
FELDA BELI SYARIKAT TERNAK LEMBU
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