United Malacca Berhad (Malaysia)

United Malacca Berhad (UMB) is a company located in Melaka, Malaysia. It was incorporated on 27 April 1910 under the Companies Ordinance 1889 by its founder, Tun Tan Cheng Lock. The company was initially known as The United Malacca Rubber Estates, Berhad. Tun Tan Cheng Lock served as the Chairman of the company until 1960. After his retirement, his son, Tun Tan Siew Sin, took over as Chairman in 1974 until 1988. Under Tun Tan Siew Sin's leadership, UMB accumulated substantial reserves, contributing to the financial strength of the group. Following Tun Tan Siew Sin's death in 1988, Mr. Choi Siew Hong, the former Deputy Governor of Bank Negara Malaysia, became the Chairman of the Group. Under Mr. Choi's leadership, the company expanded its operations and earnings base, experiencing steady growth in financial strength. UMB started with a paid-up capital of RM315,000 and 460 acres of rubber in 1910. Through acquisitions and mergers, the company expanded its planted acreage and operations to 13,000 acres with estates in Melaka, Negeri Sembilan, and Johore. In 1966, UMB diversified into oil palm cultivation, replacing old rubber trees. Government compulsory acquisitions resulted in a reduction of planted acreage to 9,000 acres, all of which have been diversified into oil palm. Since 1997, UMB has been expanding its plantations activities to Sabah, acquiring 16,924 acres of land for oil palm estates. In February 2004, the company acquired two estates with 8,025 acres and a crude palm oil mill in Pahang. In November 2009, UMB acquired two contiguous parcels of leasehold land in Sabah, measuring approximately 10,102 hectares. Currently, the group owns a total of 60,888 acres of oil palm plantations and two palm oil mills. UMB's core business is oil palm cultivation and crude palm oil milling. The company is actively seeking opportunities to further expand these activities. In 2016, UMB completed the acquisition of 83.0% effective equity interest in PT Lifere Agros Kapuas, which holds approximately 24,585 hectares of oil palm plantation land in Central Kalimantan Province, Indonesia. This acquisition will double UMB's current plantation land bank to 48,695 hectares and expedite its upstream expansion.