History PPB Group

1 history

1.1 foundation , sugar origins
1.2 expansion , diversification
1.3 2000s

history
foundation , sugar origins

robert kuok , brother philip founded company kuok brothers rice wholesaler in malaya in 1948. ventured sugar , flour milling business in 1950s , 60s.

in 1952, kuok brothers began acquiring sugar plantations in 1952 , founded perlis plantations berhad in 1968 house sugar cane cultivation , milling business. company established malaysian sugar manufacturing company (msm), sugar refiner, in 1959. kuok said choice switch rice sugar business due tough competition in rice market in 1950s. having gone school in english-medium raffles institution in singapore, had advantage in sugar industry since sugar trade conducted in english.

kuok brothers established federal flour mills (ffm) in 1962, entering flour milling industry take advantage of government s import-substitution economic policy.

by end of 1960s, through ppb, msm , sugar commodities trading business, kuok brothers said control more 10 percent of world s sugar supplier, earning kuok nickname sugar king.

expansion , diversification

kuok took ppb public in 1972. listing coincided kuok shifting focus of business outside malaysia, singapore. subsequently, kuok brothers began consolidating core businesses ppb. ppb acquired msm in 1976 , added ffm fold in 1987.

in 1980s, company expanded property development , palm oil plantation industries.

it acquired local property developer tai yan realty (since renamed ppb hartabina) , 34 percent stake in shaw brothers malaysia between 1982 , 1984. involvement in properties led company venturing in retail operating several supermarkets , discount stores throughout malaysia. 1996 2000, operated tops chain of supermarkets in joint venture dutch retailer ahold, exited business due continuing losses. property division included rasa sayang beach hotels 1987 until 1999 when transferred shangri-la group.

ppb entered joint venture golden harvest (international) ltd of hong kong establish golden screen cinemas (gsc) take on shaw cinema chain in 1987. group subsequently bought our golden harvest s stake. gsc has since grown 1 of malaysia s largest cinema chains , film distributors.

in 1986 , 1987 respectively, ppb acquired saremas sdn bhd (in sarawak) , 60 percent of sapi plantations (in sabah) establish in palm oil plantation business. acquired 70 percent interest in indonesian palm oil producer pt tidar sungkai sawit (ptss) in 1995. east malaysian palm oil businesses consolidated ppb oil palms berhad in 1997 , listed in kuala lumpur stock exchange. ptss transferred ppb oil palms in 2000. in 1990s, group acquired majority holding in chemquest sdn bhd in stages enter waste management business. in 2001, chemquest, through 25 percent stake in konsortium abbas sdn bhd, won 30-year concession operate sungai semenyih dam , water treatment plant.

2000s

in 2007, group divested stake in ppb oil palms wilmar international in exchange wilmar shares. result, has 18.3 percent interest in wilmar, making single largest shareholder.

ppb sold msm , other sugar-related businesses felda global ventures in 2009 rm1.25 billion.