Who is behind Sarawak Plantation? CM Taib Mahmud's cousin

Reported by anilnetto.com

Sarawak Plantation Bhd, one of the major plantation players in Sarawak, has a reported landbank of 52,071ha as of 31 December 2008.

Of this, 18,406ha is vacant land, which includes 10,786ha managed under the Native Customary Rights scheme, under which the firm holds a 60 per cent interest, according to a research house, as reported in The Edge Financial Daily. The native landowners hold 30 per cent stakes in this NCR land and the state 10 per cent.

Who is behind Sarawak Plantation? Sarawak Chief Minister Taib Mahmud’s cousin Abdul Hamed Sepawi figures prominently.

According to The Edge again:

Its larger shareholders are Cermat Ceria Sdn Bhd, with a 30.35% stake, and the State Financial Secretary Sarawak with 25.44%. Group managing director Mohamad Bolhair Reduan holds 6.81% and Lembaga Tabung Haji 5.96%….

A check with the Companies Commission of Malaysia shows that Cermat Ceria’s largest shareholders are Tapak Beringin Sdn Bhd, which holds 46.2%, Datuk Abdul Hamed Sepawi (19.9%) and Hasmi Hasnan (19.7%). Tapak Beringin is owned by Abdul Hamed Sepawi and Hasmi.

Both Abdul Hamed Sepawi and Hasmi have close connections with the state, holding directorships in state-owned companies.

Hamed Sepawi is the chairman of Naim Holdings Bhd and Sarawak Energy Bhd while Hasmi is the managing director of Naim and chairman of Dayang Enterprise Holdings Bhd.

Bloomberg reports on Abdul Hamed’s extensive interests in Sarawak as follows:

In the past 8 years, he has been involved in activities relating to forest plantations in Australia and Sarawak. YBhg Datuk Bin Haji Sepawi has been Chairman of the Board of Sarawak Enterprise Corp. Bhd and Sarawak Energy Berhad since June 27, 2005. He has been the Non-Executive Chairman of Naim Cendera Holdings Bhd and Naim Holdings Berhad since July 25, 2003. He has been the Non-Executive Chairman of Naim Cendera Sdn. Bhd. since October 12, 1995. He has been a Non-Independent Executive Director of TA Ann Holdings Berhad since October 2, 1999. He has been Director of Sarawak Enterprise Corp. Bhd since June 27, 2005. YBhg Datuk Bin Haji Sepawi serves as a Director of Sarawak Timber Industry Development Corporation, Naim Cendera Holdings Bhd and Naim Cendera Sdn. Bhd. He served as Non-Independent Non-Executive Director at SARAWAK Plantation Bhd from August 30, 2005 to May 11, 2009. He is a member of the National Economic Consultative Council II…

He received his early education at St. Columbia’s School, Miri and Malay College, Kuala Kangsar. YBhg Datuk Bin Haji Sepawi graduated with a Bachelor of Science degree (Hons) from University of Malaya in 1971, pursued undergraduate studies in forestry at the Australia Nation University from 1974 to 1975, and later obtained an MSc in Forest Products from Oregon State University, USA.

The Edge weekly reported on 13 September that Hamed was believed to be close to selling his entire stake in Sarawak Plantation.

At RM9,000 to RM15,000 per hectare, the firm’s 50,000-odd ha of land would fetch RM625 million, the weekly noted. That would mean Hamed’s 84.9 million shares could be worth a cool RM190 million, the paper estimated. “Whatever the price, give than crude palm oil has been trading close to RM2,700 per tonne recently and averaged RM2,400 in the last one year, Hamed should be getting a good price.”

Forbes ranks him as Malaysia’s 39th richest person in 2010 with an estimated net worth of US$120 million.

The full top 40 list makes for some interesting reading with some familiar names (and relatives of well-known personalities) popping up:

1. Robert Kuok
2. Ananda Krishnan
3. Lee Shin Cheng
4. Lee Kim Hua
5. Quek Leng Chan
6. Teh Hong Piow
7. Yeoh Tiong Lay
8. Syed Mokhtar AlBukhary
9. Vincent Tan
10. Tiong Hiew King
11. Azman Hashim
12. Lee Oi Hian & Lee Hau Hian
13. Yaw Teck Seng & Yaw Chee Ming
14. Lim Wee Chai
15. William H. J. Cheng
16. Goh Peng Ooi
17. Lim Kok Thay
18. Jeffrey Cheah
19. Anthony Fernandes
20. G. Gnanalingam
21. Kamarudin Meranun
22. Chan Fong Ann
23. Shahril & Shahriman Shamsuddin
24. A.K. Nathan
25. Chong Chook Yew
26. Mokhzani Mahathir
27. Ahmayuddin bin Ahmad
28. Lau Cho Kun
29. Chen Lip Keong
30. Lee Swee Eng
31. Liew Kee Sin
32. Nazir Razak
33. Eleena Azlan Shah
34. Ong Leong Huat
35. Rozali Ismail
36. Kua Sian Kooi
37. Lin Yun Ling
38. David Law Tien Seng
39. Abdul Hamed Sepawi
40. Syed Mohd Yusof Tun Syed Nasir