Australian company to help save Malaysia forest

November 29, 2007 (AAP) – An Australian forestry investment company is working with the Sabah Government in East Malaysia to create financial instruments [biodiversity credits] to allow palm oil producers to participate in forest conservation. The agreement between Sydney-based New Forests and the Borneo state will help protect about 34,000 hectares in the Malua Forest Reserve, which is home to orangutans, Sumatran rhinos and clouded leopards.

In return for an estimated $US10 million ($A11.4 million) investment to create a “conservation bank”, New Forests will sell so-called biodiversity credits in the protected site on the island of Borneo, with the Malaysian Government retaining ownership of the forest.

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Palm oil industry closer to “green” labeling

November 22, 2007 (Reuters) – A certification process was launched on Thursday enabling palm oil producers meeting stringent environment standards to label their products as eco-friendly.

Palm oil companies that meet the criteria set by an industry-led initiative, the Round Table on Sustainable Palm Oil, will be able to market their certified “green products” in global markets.

Asia signs ‘green region’ environment pact

November 22, 2007 (Forbes) – Leaders of 16 Asian nations including China and India signed a pact on the environment Wednesday, pledging action on climate change and forest cover, and promoting the use of nuclear energy. The East Asia Summit members threw their support behind a UN plan as the ‘core mechanism’ for tackling global warming.

Synergy to buy 60% of Sarawak Hidro, 2,400 MW dam project

November 17, 2007 (The Star) – Sime Darby Bhd says Synergy Drive Bhd has obtained the Government’s approval to acquire a 60% stake in Sarawak Hidro Sdn Bhd, owner of the 2,400-megawatt Bakun dam project.

“Synergy Drive will proceed to commence negotiations with the Government of Malaysia on the terms of the acquisition,” the company said in a statement to Bursa Malaysia yesterday.

Malaysian palm oil earnings to hit new record in 2007 (Report)

October 16, 2007 (AFP) – The value of Malaysia’s palm oil exports is expected to reach a record of 40 billion ringgit (11.84 billion dollars) this year as prices soar, a report said Wednesday.Plantation Industries and Commodities Minister Peter Chin said the forecast had been lifted from an earlier figure of 35 billion ringgit, and compared to 31.81 billion ringgit earned from palm oil exports last year.

“We had initially projected a conservative 10 percent jump in export values for this year,” Chin told the New Straits Times.

“But looking at the figures for the first nine months of this year, we are optimistic and have revised upwards our projections, predicting a 25 percent growth from last year,” he said.

Exports for the first nine months of this year were worth 30.44 billion ringgit, he said.

“This year, palm oil prices have been phenomenal compared with last year. And lately prices are on the uptrend again as we are at the tail end of the peak harvesting season,” he said.

Palm oil prices have been surging as high prices for crude oil cause demand for alternative fuels to soar.

Malaysia and Indonesia account for 85 percent of world production, and Indonesia is on track to claim the mantle of top producer as it expands the area of land it has under plantation.

Mass production of Malaysian biodiesel slow on soaring palm oil prices

October 31, 2007 (Forbes) – The mass production of palm oil-based biodiesel in Malaysia has been slow in taking off as the current high price of crude palm oil has made the use of the alternative energy source uncompetitive, a local daily reported Wednesday. Malaysia has approved 91 projects to build biodiesel plants at end-September but so far only four plants have begun operations, Plantation Industries and Commodities Ministry parliamentary secretary S Vijayaratnam was quoted by the Edge Financial Daily as saying.

Meanwhile, another four plants are in the midst of a trial phase for mass production, said Vijayaratnam.

‘Based on the high price of palm oil — which is the raw material feedstock of the biofuel at the moment — the use of biofuel is not competitive,’ he said.

91 Malaysian Biodiesel Projects Approved At End-September 2007

October 30, 2007 (Bernama.com) – A total of 91 biodiesel projects with production capacity of 10.193 million tonnes per year were approved by end-September this year, Plantation Industries and Commodities Ministry’s Parliamentary Secretary Senator Datuk Dr S. Vijayaratnam said Tuesday.

From the number, four biodiesel plants with production capacity of 300,000 tonnes per year have started operations while another six plants with capacity of 471,000 tonnes have been completed and were undergoing trial runs, he said.

First Solar Expands into Malaysia

October 15, 2007 (Renewable Energy World) – An additional manufacturing plant in Malaysia with an annual nameplate production capacity of 120 MW is to be developed by First Solar, Inc. Representing an aggregate investment of approximately US$150 million, the new plant is scheduled to start production in the first half of 2009 and will be built adjacent to two previously announced plants currently under construction in Malaysia.

Together with the two additional manufacturing plants in Malaysia the total annual nameplate production capacity will reach 360 MW upon completion of all announced projects by the end of 2009.

Mission Starts First Biodiesel Plant in Malaysia

October 11, 2007 (Energy Current)- Mission Biofuels Ltd. said its first biodiesel and glycerin purification plant located in Kuantan, Pahang, Malaysia, is about to begin full production within the next two weeks after undergoing the final stages of commissioning. The US$30 million plant will produce up to 100,000 tonnes (110,000 tons) per year of biodiesel using crude palm oil sourced from Cargill Palm Products Sdn Bhd under a five-year supply contract.Austria-based commodity trader Godiver Handelsgesellschaft GmbH will sell the output to Germany, one of the world’s primary biodiesel markets. The commodity trader entered into a five-year contract with Mission Biofuels for the supply of up to 250,000 tonnes (275,000 tons) of biodiesel per year.

The plant is expected to produce another 4,000 tonnes (4,400 tons) of palm fatty acid distillate and 12,000 tonnes (13,200 tons) of pharmaceutical grade glycerin.

Palm oil action urgently needed to protect rainforests

October 10, 2007 (Foodweek.com.au) – Australia wants international action on the sustainable sourcing of palm oil as demand from biofuels companies puts pressure on tropical rainforests.

Palm oil has long been used in the manufacture of cooking oil, soaps and detergents. But the international craving for biofuels has greatly increased demand.

“The challenge we face is that because palm oil can only be grown within 10 degrees of the equator, growing demand for palm oil as feedstock for “green” biofuels, especially in Europe, is promoting deforestation in tropical rainforest countries,” said Federal Environment Minister, Malcolm Turnbull.