Malaysian company eyeing investment opportunities in Guyana

Apr 25, 2012 News

A delegation from a Malaysian company known to be one of the world’s

The Malaysian delegation pays a courtesy call on Prime Minster Samuel Hinds

largest rubber plantations is in Guyana looking for feasible areas to invest in on a large scale, including the cultivation of rubber trees.
Though, Wee Boon Ping Group of Companies has not made any definitive decision in this regard, it has paid courtesy calls on President Donald Ramotar, Prime Minister Samuel Hinds and other Ministers.
The delegation headed by the company’s Chairman Datuk (Sir) Wee Kok Tiong became aware of Guyana’s investment opportunities primarily in the forestry and construction sectors through their Guyanese and Malaysian acquaintances here.
The chairman made the announcement yesterday during an interview with this publication at the Pegasus Hotel in Kingston.
“As businessmen we travel the world looking for various investments. Guyana’s weather pattern is similar to Malaysia’s as such investment in rubber plants seems possible. In addition, Guyana’s resources, especially forests, are an area of interest for our company since we are involved in forestry management,” Mr Wee explained.
He noted that the company’s intent if it were to invest in Guyana is to not destroy the forest since it would practice reforestation. Whatever the area of investment, the company promises that it would be employing Guyanese labourers.
The company owns 109,000 hectares of virgin forest land, cultivates rubber trees, owns a newspaper, and engages in property development and construction. It is envisages the establishment of a Bioscience Division to tap the abundance of flora diversities in lands owned by the company.