Sarawak Plantation

What Sarawak Plantation does

Sarawak Plantation Berhad (SPB) is a Malaysian publicly-listed upstream-to-midstream oil palm company headquartered in Kuching, Sarawak, and listed on the Main Market of Bursa Malaysia (Stock Code: 5135, SWKPLNT) since 28 August 2007. The group operates a vertically integrated palm oil value chain comprising 13 oil palm estates with a total land bank of 42,745 hectares (33,800 hectares plantable) plus a 412-hectare joint venture with a Sarawak state government statutory body, supported by two palm oil mills (Niah and Mukah) with combined operating capacity of 140 metric tonnes per hour. Core outputs are crude palm oil (CPO) and palm kernel sold to commodity traders and processors, with Fresh Fruit Bunches (FFB) sourced from both own estates and third-party smallholders, FFB traders, and estates.

Beyond core plantation and milling, the group operates three secondary business lines: (1) the Seed Production Unit producing the SIRIM-certified, MPOB-licensed Surea DxP oil palm seed variety; (2) SP Lab (est. 1979), an agricultural laboratory providing fertilizer, plant/leaf, soil, food nutritional label, and FFB testing to government agencies, plantations, higher learning institutions, and fertilizer suppliers; and (3) the Strategic Innovation Centre (est. 2014) focused on estate mechanization R&D to reduce labor dependency. Ancillary activities include cattle integration under the Pawah scheme (initiated 2000) for integrated weed management, a Community Learning Centre (est. 2016) for worker family education, and property investment.

Revenue is generated through transaction-based B2B commodity sales (CPO, palm kernel, seeds) and service fees (laboratory testing), with pricing determined by prevailing commodity markets rather than public disclosure. The customer base is distributed across commodity buyers, smallholders, government agencies, and agribusiness enterprises, with no single customer concentration disclosed. The company is led by Executive Chairman Datuk Amar Abdul Hamed Bin Sepawi (who also chairs Ta Ann Holdings and Naim Holdings) and Group CEO Iswandi Bin Ayub (appointed 1 January 2026), with CFO Koay Bee Eng overseeing finance since 2014.

Name

Sarawak Plantation

Legal name

Sarawak Plantation Berhad

Website

https://spbgroup.com.my

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Sarawak Plantation Berhad is a Bursa Malaysia-listed oil palm plantation and milling company operating 13 estates across 42,745 hectares in Sarawak, producing crude palm oil, palm kernel, and SIRIM-certified Surea DxP seeds, with ancillary laboratory testing and seed distribution businesses.

Ownership category

akta.pro rank

Product category

Oil Palm Plantation and Milling

NAICS

Oilseed and Grain Farming (1111), Fruit and Tree Nut Farming (1113)

SIC

Agricultural Production-Crops (100), Fats & Oils (2070)

akta.pro primary industry

Industrial Oil & Wax Crop Farming (Castor, Jojoba, Oil Palm for industrial uses) (AFAGAGAL)

Keywords

• Oil palm plantation
• Crude palm oil production
• Palm kernel processing
• Oil palm seed production
• Agricultural laboratory testing

Headquarters

HQ city

Miri

HQ country

Malaysia

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure

Revenue model

1. Crude Palm Oil and Palm Kernel Sales: Revenue from cultivation and processing of oil palm into crude palm oil (CPO) and palm kernel. The Group processes FFB from their own estates and purchases from smallholders, FFB traders, and third-party estates.
2. Seed Production: Production and sale of high quality Surea DxP oil palm seeds certified by SIRIM and licensed by MPOB.
3. Laboratory Services: SP Lab provides analytical services including fertilizer testing, plant/leaf testing, soil testing, food nutritional label testing to government agencies, private plantations, institutions, and fertilizer suppliers.
4. Cattle Integration: Rearing of cattle in oil palm plantations under the Pawah scheme through the Department of Agriculture of Sarawak, as part of integrated weed management.
5. Property Investment: Property investment activities as part of diversified business operations.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Sarawak Plantation Berhad is principally engaged in the cultivation and processing of oil palm into crude palm oil (CPO) and palm kernel across 13 estates and two mills in Sarawak. It also produces and sells its proprietary Surea DxP certified oil palm seeds, and provides agricultural laboratory testing services through SP Lab for fertilizers, plant/leaf, soil, food nutrition, and FFB/agricultural products.

Product overview

Sarawak Plantation Berhad operates as a fully integrated agribusiness enterprise in the oil palm industry. The company's portfolio consists of three interconnected service lines: (1) Core Production comprising Oil Palm Plantation operations across 13 estates covering 33,800 hectares and Milling Operations through two palm oil mills with combined capacity of 140 mt/hour; (2) Value-Added Services including SP Lab providing laboratory testing for fertilizers, plants, soil, and food nutrition, plus the Strategic Innovation Centre focused on estate mechanisation; and (3) Seed Production producing the Surea DxP certified palm oil seed variety. Additional offerings include cattle integration for weed management and community education services.

Differentiator

Problem solved

Functional benefit

Brands

• Surea DxP: High quality palm oil seeds certified by SIRIM and licensed for sale by the Malaysian Palm Oil Board (MPOB), tested to provide high FFB and oil yield with moderately slow height increment.
• SP Lab

Products and services

• Oil Palm Plantation Operations Cultivation of oil palm across 13 estates in Sarawak with a total plantable hectarage of 33,800 hectares, representing 80% of the Group's 42,745-hectare land bank, supplying Fresh Fruit Bunches (FFB) to the Group's palm oil mills and to third parties.
• Palm Oil Milling Operations Processing of Fresh Fruit Bunches into crude palm oil (CPO) and palm kernel through two palm oil mills (Niah Palm Oil Mill in Miri and Mukah Palm Oil Mill in Sibu) with a combined operating capacity of 140 metric tonnes per hour; FFB sourced from own estates and purchased from smallholders, FFB traders, and third-party estates.
• Surea DxP Oil Palm Seeds High quality oil palm seeds produced by the Seed Production Unit, certified by SIRIM and licensed for sale by the Malaysian Palm Oil Board (MPOB), bred for high FFB and oil yield with moderately slow height increment. Sold to oil palm plantations.
• SP Lab Agricultural Analytical Services Agricultural laboratory services operated by Sarawak Plantation Services Sdn. Bhd. (SPSS) since 1979, providing fertilizer testing (MS 417 method), plant/leaf nutrient testing (MS 677 method), soil analysis, food nutritional label testing, and analysis of FFB and other agricultural products for government agencies, private oil palm plantations, higher learning institutions, fertilizer mixing factories, and fertilizer and agrichemical suppliers.

Quantifiable outcome

• Total land bank of 42,745 hectares with 33,800 hectares plantable area representing 80% utilization
• +2 more outcomes

Named customers8 records

Segments2 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered minor and core.

• Sarawak State Government Agency (Joint Venture Partner)minorStrategic or Co-development PartnerJoint venture with a government statutory body for estate development with 412 hectares (planted 405 hectares). This partnership enables expansion of oil palm cultivation under government collaboration.
• SIRIMcoreOthersSIRIM provides certification for Surea DxP oil palm seeds produced by the Group. This certification is essential for market credibility and regulatory compliance.
• Malaysian Palm Oil Board (MPOB)coreOthersMPOB licenses the sale of Surea DxP oil palm seeds. MPOB is the government agency responsible for the development of the palm oil industry in Malaysia.
• Department of Agriculture SarawakminorOthersCollaboration through the Pawah scheme for cattle integration programme in oil palm plantations, initiated in year 2000 as part of integrated weed management.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Sampoerna Agro Tbk: Indonesia-listed palm oil and sago producer with similar upstream focus. Comparable mill and estate business model, provides regional benchmark for CPO economics outside Malaysia.

Direct peers

• Kim Loong Resources Berhad: Malaysian mid-cap plantation company with similar estate-mill operations and downstream bio-energy exposure. Closely comparable in scale and product mix to SPB.
• Boustead Plantations Berhad: Malaysian mid-sized palm oil planter with estates across Malaysia including Sarawak. Most similar in size and business focus, with comparable upstream-only product mix.
• Ta Ann Holdings Berhad: Sarawak-based integrated plantation company with timber and oil palm operations. Shares board leadership with SPB (Datuk Amar Abdul Hamed Bin Sepawi is Executive Chairman at both; Dato Wong Kuo Hea is ED at SPB and Group MD/CEO at Ta Ann). Most direct comparable in Sarawak.
• United Plantations Berhad: Malaysian integrated palm oil producer recognized for high sustainability standards. Comparable estate and mill operations, with similar mid-size scale and a focus on certified sustainable palm oil.

Broad incumbents

• IOI Corporation Berhad: Major Malaysian integrated palm oil player with plantation, milling, and downstream refining/oleochemicals. Directly comparable CPO/palm kernel economics but with downstream value-added businesses that SPB lacks.
• Golden Agri-Resources Ltd: Indonesia-listed/Singapore-headquartered palm oil giant with the largest planted area globally. Comparable upstream commodity exposure, but at vastly greater scale and with integrated downstream branded consumer products.
• Sime Darby Plantation Berhad: Malaysia's largest palm oil producer with integrated upstream-to-downstream operations across Malaysia, Indonesia, and Papua New Guinea. Same primary commodity (CPO/palm kernel) and mills, but at materially larger scale and broader vertical integration.
• FGV Holdings Berhad: One of the world's largest palm oil producers, formerly Felda Global Ventures. Comparable upstream CPO economics and Malaysian plantation footprint, with downstream refining and bulking terminal operations.
• Kuala Lumpur Kepong Berhad (KLK): Malaysian plantation major with diversified upstream palm oil and downstream oleochemicals. Comparable core estate and milling operations, with materially greater scale and downstream diversification.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sarawak Plantation