Chinese schools set to gain from deal signed to cultivate oil palm
THE nine Chinese independent schools in Perak will see a boost in their financial status over the next three decades beginning this year.
The schools, through a private company – Semangat Suwa Sdn Bhd – jointly set up by all nine of them, is set to gain a sum of RM108mil from the cultivation of oil palm on a 1,000ha land they own in Besout, Sungkai.
The land had been given to them by the state government in July 2010 to collectively plant oil palm, reflecting the government’s concern for Chinese education.
On Tuesday, Semangat Suwa signed an agreement with Sawit Langkap Sdn Bhd to cultivate on the land.
Semangat Suwa chairman Datuk Hew Choy Kon said Sawit Langkap was an oil palm trading company with over 30 years of experience.
“Our board of directors had decided to approach this company after the call for tenders on previous occasions did not work out.
“I thank the company for showing its love for Chinese education,” Hew said after the signing ceremony witnessed by state executive councillor Datuk Dr Mah Hang Soon on Tuesday.
Under the agreement, Sawit Langkap would commence the planting of oil palm on the land three months from now.
“The company will pay us RM1.1mil annually during the first five years, after which, the amount will be increased to RM5.1mil annually.
“It is estimated that we will only break even from the 11th year onwards,” Hew said.
The nine schools are SM Shen Jai, SM Yuk Choy and SM Poi Lam in Ipoh, SM Nam Hwa (Sitiawan), SM Yik Ching (Pantai Remis), SM Pei Yuan (Kampar), SM Hua Lian (Taiping), SM Sam Min (Teluk Intan), and SM Tsung Wah (Kuala Kangsar).