Bright Packaging Industry Bhd has recently entered into a joint venture (JV) with a plantation firm, Datai Plantations Sdn Bhd, in Sarawak. The project involves the development of 1,921 hectares in Sarikei with a total oil palm cultivation area estimated at 1,152 hectares.
Bright Packaging will invest RM5 million (US$1.21 million) and this represents its move to diversify from its core aluminium foil production business, which is currently very competitive and volatile due to fluctuations in raw materials prices.
Datai Plantations is principally engaged in investment holding and palm oil cultivation. Through its 60%-owned company, namely Datai Pelita Bintangor Sdn Bhd (DPBSB), it has been granted the right to develop the project.