Kulim (Malaysia) Berhad (“Kulim”) traces its history back to 1933 when Kulim Rubber Plantations Ltd was incorporated in the United Kingdom. Kulim was later incorporated as a public listed company and was listed on the Main Board of the Kuala Lumpur Stock Exchange (now known as the Main Market of Bursa Malaysia Securities Berhad) in 1975. In 1976, Johor Corporation (“JCorp”) became the major shareholder of Kulim. On 4 August 2016, pursuant to the completion of Selective Capital Reduction and Repayment (“SCR”) exercise, Kulim became a wholly-owned subsidiary of JCorp and was removed from the official listing of Bursa Malaysia Securities Berhad.

Over the years, Kulim has grown to become a diversified plantation company and continues to strengthen its position by securing new hectarages whilst developing and strengthening its Intrapreneur Venture. At end-2013, Kulim once again made its way into Indonesia with the acquisition of 74% equity in PT Wisesa Inspirasi Nusantara (“PT WIN”), a plantation holding company in Indonesia, holding rights over 40,645 hectares of potential oil palm land in Central Kalimantan (“BarUt”). Subsequently,on 28 December 2017, Kulim completed the disposal of BarUt. The rationalisation of investments undertaken as part of our exit strategy to unlock the value of BarUt.

On 23 June 2016, Kulim completed the acquisition of pt tempirai Palm Resources (“PT PTR”) and PT Rambang Agro Jaya (“PT RAJ”) adding 8,345 hectares of oil palm planted in South Sumatera. With the completion of this strategic acquisition, the Kulim Group’s total oil palm planted area boosted to 55,604 hectares at end-2018 spread across Malaysia and Indonesia.After having footholds in other O&G related business in Malaysia, Kulim had on 10 December 2014, entered into a Conditional Subscription and Shares Purchase Agreement (“CSSPA”) with the existing shareholders of pt Citra Sarana Energi (“PT CSE”) for acquisition of 60% equity in the company. This will enable Kulim to expand its involvement in the O&G sector particularly in Indonesia, moving up the value chain into upstream activities-exploration and production.