Golden Hope

Golden Hope Plantations Berhad (GHPB) was an estate and plantations company in Malaysia.

Golden Hope Plantations Berhad
FormerlyHarrison and Crossfield
TypePublic
IndustryPlantation, Oils & Fats & Others
SuccessorSime Darby
Founded1905
Defunct27 November 2007
HeadquartersMenara PNB, Jalan Tun Razak,
Kuala Lumpur, Malaysia
Key people
Ahmad Sarji Abdul Hamid (Chairman)
Websitewww.goldenhope.com

History

In 1905 Harrisons and Crosfield, a British tea and coffee trading company purchased several small estates in Malaysia for £50,000 and amalgamated them to form the Golden Hope Rubber Estate.[1]

In 1982 Harrisons and Crosfield sold three large plantation groups - Golden Hope, Pataling, and London Asiatic[2] - to Malaysian concerns for £146 million.[1]

The business was renamed GHPB in 1990 after Pemodalan Nasional Berhad took majority equity of the company. Its interests originally were in tropical agriculture but, while plantations have remained a core business interest, the company has diversified into other areas including glycerine manufacture, fruit juices and real estate. The group now has 83 subsidiaries based in seven countries. The main estate and plantations are Carey Island and Banting in Selangor.[3]

In late November 2006, Synergy Drive Sdn Berhad, a special purpose entity with financing from CIMB Investment Bank Berhad, offered to acquire Golden Hope and seven others PLCs "to create the world's largest listed oil palm plantation" company. The merger, the largest to take place in Southeast Asia, was intended to consolidate over 6,000 km² of plantation land.[4]

In November 2007, shares of Golden Hope was de-listed, and the company merged with Sime Darby and Guthrie. The shares were then re-listed on the Bursa Malaysia on 29 November 2007 as Sime Darby. With the merger complete, Sime Darby was the largest company in Malaysia by market capitalisation.[5]

References
  1. Elementis
  2. London Asiatic
  3. "Geostatistical analysis of N, P and K in Dusun Durian Estate Golden Hope Plantations Bhd. Banting, Selangor". United Nations. 2002. Retrieved 18 June 2018.
  4. Clark, Giles (28 November 2006). "Malaysian bank set to create the world's largest listed oil palm player". Biofuel Review. Archived from the original on 28 September 2007. Retrieved 9 March 2007.
  5. Sime Darby holds the crown on Bursa
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