Our Milestones

Perlis Plantations Berhad (“PPB”) was incorporated on 1 November 1968, to undertake large scale cultivation and milling of sugar cane in Chuping, Perlis in response to the Government’s wish to establish a local sugar industry.

The Federal Land Development Authority (FELDA) and PPB were each alienated about 4,450 hectares of land for the sugar project and the parties established a 50:50 joint venture sugar cane mill and refinery under Kilang Gula Felda Perlis Sdn Bhd to process the cane from the two plantations.

PPB was listed on the Stock Exchange of Malaysia and Singapore, now known as Bursa Malaysia Securities Berhad (“Bursa Securities”) in May 1972, with an issued share capital of RM15.0 million.

PPB achieved its first pre-tax profit of RM2.0 million for the financial year ended 30 September 1974 on turnover of RM9.3 million.

PPB embarked on a diversification programme so that its performance would not be dependent on the vagaries of one crop. During the year, PPB acquired Malayan Sugar Manufacturing Co Berhad (“MSM”), which operates Malaysia’s largest sugar refinery at Seberang Prai, Province Wellesley, Penang. As a result of the merger, PPB became a vertically integrated organisation engaged in all aspects of the sugar industry from cane growing to sugar milling, refining and distribution. Through MSM, PPB also became indirectly involved in the hotel industry, manufacture of poly bags and bulking operations.

PPB further diversified into property development, tin mining and rubber plantations through the acquisition of Mineral Securities Malaysia Berhad, subsequently known as Minsec
Properties Berhad (“Minsec”).

Minsec’s principal asset was its holding in public-listed Rahman Hydraulic Tin Berhad (“RHTB”). PPB’s indirect interest in RHTB was initially 41.8%. RHTB later became a 55% direct subsidiary of PPB. On 5 October 1993, PPB announced the disposal on the open market of its entire equity interest in RHTB.

PPB acquired the entire issued share capital of South Island Mining Company Sdn Bhd (“SIMCO”), which operated iron ore mining leases and a rubber plantation in Bedong, Kedah.

Tai Yan Realty Sdn Bhd (“Tai Yan”), which is now known as PPB Hartabina Sdn Bhd (“PPBH”), became a wholly-owned subsidiary of PPB. Tai Yan was the developer of Taman Segar in Cheras, Kuala Lumpur.

PPB acquired a 34% equity interest in Shaw Brothers (M) Sdn Bhd (“SBM”), which then owned over 90 individual properties throughout Malaysia.

In line with the Group’s property interests, PPB ventured into retail operations by taking a 55% stake in Chujitsu Superstore Sdn Bhd (Chujitsu), a joint venture with Tosin Co Ltd and Chujitsuya Co Ltd of Japan.

With the PPB Group’s involvement in the trading and refining of edible oils, PPB first ventured into oil palm cultivation in Sarawak by forming Saremas Sdn Bhd, a joint venture with Sarako Sdn Bhd, to establish an oil palm plantation on 9,900 hectares in the Suai District of the Fourth Division.

PPB made takeover offers for Federal Flour Mills Berhad (“FFM”), which is now known as FFM Berhad, and Rasa Sayang Beach Hotels (Pg) Berhad (“RSBH”), and FFM and RSBH became 50.86% and 95.13% (subsequently increased to 100%) subsidiaries of PPB, respectively. The takeover of FFM enabled PPB to diversify into flour and animal feed milling, edible oils processing and commodities trading. FFM has since diversified further into livestock farming as a synergistic progression from wheat flour milling and subsequently to consumer products distribution, further food processing and industrial bakery.

PPB and the Sabah Land Development Board established Sapi Plantations Sdn Bhd to undertake a fully integrated oil palm project over 14,200 hectares near Sandakan, Sabah. The Sapi Plantations project marked the Group’s entry into Sabah. The following year, PPB established Reka Halus Sdn Bhd, a 70:30 joint venture with Ladang Sabah Sdn Bhd to develop 5,400 hectares of oil palm estate near Sapi. This marked another step towards oil palm cultivation becoming a core business of the PPB Group.

Recognising the potential of the entertainment industry, PPB entered into a joint venture with Golden Harvest (International) Ltd of Hong Kong to establish Golden Communications (M) Sdn Bhd (“GCM”), now known as Golden Screen Cinemas Sdn Bhd (“GSC”), to operate a chain of cinemas leased mainly from SBM.

PPB was delisted from the Stock Exchange of Singapore, (SES), but remained listed on the Kuala Lumpur Stock Exchange (“KLSE”), now known as Bursa Securities.

PPB acquired the entire issued share capital of Borneo Filem Organisation Sdn Bhd (“BFO”). BFO changed its name to Cathay Cinemas Sdn Bhd and is now known as PPB Leisure Holdings Sdn Bhd, which owned and operated a chain of cinemas in Malaysia known as Cathay Organisation.

PPB announced the proposed merger of Shangri-La Hotels (Malaysia) Berhad (“SHMB”) (formerly RSBH) and UBN Holdings Sdn Bhd and the proposed listing of SHMB on the Main Board of the KLSE, now known as Bursa Securities.

PPB acquired a 40% stake in Haskitime Corporation Sdn Bhd, and its name was subsequently changed to ChemQuest Sdn Bhd (“ChemQuest”). In 1999, PPB increased its stake in ChemQuest to 55%. The ChemQuest Group was engaged then in environmental engineering, utilities, waste management, trading of chemicals and contract manufacturing. In 2022, the Group divested its Malaysia-based waste management and environmental engineering businesses.

PPB entered into two joint ventures taking 70% stakes in Segarmas Plantations Sdn Bhd and Suburmas Plantations Sdn Bhd to develop 4,860 and 4,591 hectares of oil palm plantations in Sarawak, respectively.

PPB expanded its oil palm operations to Indonesia taking a 70% stake in PT Tidar Sungkai Sawit (“TSS”), to operate an oil palm plantation on about 8,000 hectares of land in Sumatra. PPB’s 70% stake was subsequently transferred to PPB Oil Palms Berhad.

To restructure its retail operations, PPB entered into an agreement on 7 March 1996 with Dutch retailer Koninklijke Ahold NV to operate retail-related businesses under a new joint venture company called RA-PPB (Tops) Retail Sdn Bhd (“Tops”). PPB held a 40% stake in the joint venture. The company was subsequently divested and PPB exited the retail business in 2000.

PPB restructured its cinema and leisure operations by injecting GCM into Cathay Cinemas Sdn Bhd, which is now known as PPB Leisure Holdings Sdn Bhd (“PPB Leisure”). PPB Leisure has since diversified into software development and maintenance, information technology services and solutions and has expanded its cinema business to Vietnam and Cambodia.

The oil palm investments of PPB were merged under PPB Oil Palms Berhad (“PPBOP”), with PPB retaining a 58% stake. PPBOP was listed on the then Main Board of the KLSE on 12 August 1997.

PPB disposed of its entire 26.09% stake in SHMB in October 1999 in exchange for 39.674 million new ordinary shares in Shangri-La Asia Limited (“SAL”) pursuant to a Voluntary Takeover Offer by SAL for SHMB shares.

To better reflect its diversified activities, Perlis Plantations Berhad changed its name to PPB Group Berhad on 8 May 2000.

On 14 October 2004, FFM was delisted from the Official List of Bursa Malaysia following the privatisation of FFM pursuant to a scheme of arrangement under Section 176 of the Companies Act 1965. FFM became a wholly-owned subsidiary of PPB.

The Group received an offer from Wilmar International Limited (“Wilmar”) on 14 December 2006 to acquire from FFM its 65.8% and 28% equity interests in PGEO Group Sdn Bhd and Kuok Oils & Grains Pte Ltd respectively, in exchange for new shares in Wilmar. PPBOP, then a 55.6%-subsidiary of PPB, received a Notice of Conditional Takeover Offer from Wilmar to acquire all the PPBOP shares not owned by Wilmar on the basis of 2.3 Wilmar shares for every PPBOP share held. These exercises were completed in 2007 and the PPB Group held an 18.3% stake in Wilmar.

On 30 October 2009, PPB entered into separate sales and purchase agreements (SPA) with Felda Global Ventures Holdings Sdn Bhd (“FGVH”) to dispose of its entire equity interests in MSM (100%) and KGFP (50%), and 5,797 hectares of land in Chuping, Perlis. Grenfell Holdings Sdn Bhd, a 49%-associate of PPB, also entered into a SPA with FGVH to dispose of its 20% stake in Tradewinds (M) Berhad. With the completion of these disposals in January 2010, PPB ceased to be involved in the sugar business.

In 2021, GSC expanded its cinema chain with the acquisition of 18 cinema assets from MBO Cinemas. 

PPB Properties completed the development of Megah Rise, a 228-unit condominium and Megah Rise Mall, a retail mall in Taman Megah, Petaling Jaya.

Over the years, PPB Group has expanded its core businesses domestically and regionally to Thailand, Vietnam, Cambodia, Indonesia and China. PPB has grown in size and strength and is now a diversified conglomerate with total assets of over RM28.93 billion as at 31 December 2022.