The Minister for International Trade and Investment, Richard Maru, will be in Malaysia this week to meet with the Board and Management of SD Guthrie (which currently owns the New Britain Palm Oil Limited) to progress the discussion on the State’s acquisition of shares into Ramu Agri Industries (RAI).
“The strategic reason behind this acquisition is to expand RAI’s business to other areas in the country because land in Ramu is fully utilized with no room for expansion. We need to stop the importation of cattle and grow more sugar to replace over US$29 million worth of sugar that we import annually from mainly Thailand and Malaysia. We have the potential as a country to replace sugar imports, create thousands of new jobs in the sugar industry, and be a net exporter,” said Minister Maru.
While in Malaysia, the Minister will visit the operations of SD Guthrie Berhad, one of the world’s largest producers of Certified Sustainable Palm Oil, to observe their integrated plantation model, their Research and Development capabilities, mechanization programs, smallholder support systems, biogas and sustainability initiatives, as well as their downstream refining and processing operations. He will also meet with the Malaysia Palm Oil Board which will allow for meaningful exchanges on Malaysia regulatory framework, research platforms, and technology development initiatives that may be relevant to PNG’s own sectoral aspirations.
Meanwhile, NBPOL had formally confirmed to provide the offer letter and a copy of their valuation report on or before January 21, 2026, on the State’s proposed acquisition into RAI. Minister Maru said the Government will do its own valuation and undertake all due diligence work before finalizing its decision to buy shares into RAI.