First American Scientific Corp. (fka FASC)

[TRCPA]

P.S. Some information on the Sawipac Indonesian palm project, for those new here. The conversion factor to U.S. dollars makes this a $130+ million project.

Sunday, February 9 2014, 4:42 PM

Sawipac Malaysia to Build Integrated Palm Processing Factory in Riau

http://m.bisnis.com/en/read/20140209/98/24452/sawipac-malaysia-to-build-integrated-palm-processing-factory-in-riau\

PEKANBARU- Malaysian investor Sawipac Sdn. Bhd intends to build four palm factories and palm processing factory with necessary investment reaching IDR 1.6 trillion on 41 hectares of land in Kampar regency, Riau.

The factory will be built by cooperation between Kampar regional administration, Malaysian Technology Development Corporation (MTDC), and Malaysian palm company Sawipac in Birandang village, East Kampar regency.

In an official statement from PR of Kampar regional administration delivered to Bisnis.com, Saturday (2/8), it stated the factory will have capacity of 60 tons/hour. Besides, they will also build processing plant for palm derivative products such as frying oil, butter, fertilizer, and 20 MW power plant.

“If everything goes well, the groundbreaking will be in April. This will be the most complete integrated factory complex. We invest around IDR 1.6 trillion. After the groundbreaking, we need 18 months to finish the construction,” said Julaini Mohammad Saleh, Senior Vice President Business and Financial Advisor of MTDC.

MTDC is a Malaysian official state institution which advises Sawipac on trade and financing, while Sawipac is a company dealing in palm plantation and production established since 1996 which has plantations in Indonesia and Malaysia.

Regent of Kampar, Jefrry Noer expects if the factory have started to run, the price of fresh bunch in Kampar regency will be stable since CPO produced by PKS does not have to be sold outside Kampar, rather the company will consume it.

He promises to facilitate permit process to increase investment in the area which borders Pekanbaru. “We have implemented the best service. This is the key word to attract investors to invest in regions. The only thing taking long time to go is recommendation from ministries in Jakarta,” he said.