Golden Land Berhad (Malaysia)

Golden Land Berhad (GLBHD) is a company located in Sandakan, Malaysia. It started its oil palm plantation business in the late 1980s with a small estate of 82 hectares in Telupid, Sabah. Over the years, it has grown to 10,150 hectares with a crude palm oil mill that has an annual milling capacity of 360,000 metric tons of fresh fruit bunches. In addition to the plantation business, GLBHD also ventured into logging, sawmilling, and plywood manufacturing, but these businesses closed in 2006. In 2011, the company expanded its presence into Indonesia's plantation sector. GLBHD was listed on the Second Board Bursa Malaysia Securities Berhad in 1996 and migrated to the Main Board Bursa Malaysia in 2009. In 2016, the company decided to dispose of 9,812 hectares of Malaysian oil palm plantation and the crude palm oil mill to focus on developing greenfield plantations in Indonesia. To generate revenue while waiting for positive contributions from the plantation business, GLBHD also ventured into property development. Currently, GLBHD possesses a land bank of approximately 73,205 hectares and aims to plant 13,000 hectares by 2023 and 18,000 hectares by 2024 in East and South Kalimantan. The company is committed to being a sustainable palm oil producer and is in the process of obtaining the Indonesia Sustainable Palm Oil certification for its subsidiaries in Indonesia. GLBHD enforces quality planting methods to ensure sustainable yields and aims to be a cost-efficient palm oil producer.