| Background
TH Group is involved in three major core businesses – plantation,
contracting services (construction and timber extraction) and
technology-related investments. TH Group’s plantation operations are
in Sabah (mainly in Kinabatangan District), where it has cultivated
approx. 11,557 hectares of oil palm plantations. The Group also owns
and operates a 90 m/t crude palm oil mill. The Group provides timber
extraction services, and its latest venture in this category is a
145,000 ha land-clearing project in Kalimantan Timur, Indonesia,
which began operations early 2003. On the construction front, the
Group has completed the expansion of the Sandakan Port, built police
headquarters and residential houses in Semporna, and hospital
quarters in Keningau, Sabah. Its ongoing projects in East Malaysia
include the construction of Pitas Hospital Quarters and Medical
Complex; low-cost housing projects in Kota Kinabalu and Sandakan;
and the Tawau Sports Complex.
In West Malaysia, projects include the construction of amenities for
the Kluang Prison in Johor; the Mont Kiara residential project;
TTDIJAYA residential units in Shah Alam; and construction of
Students Quarters at the University of Selangor - which all together
have a total order book value of approx. RM354 million. The Group
has also ventured into the technology sector through wholly-owned
subsidiary iTech Worldwide Sdn Bhd (iTech), a research and
development software solutions company; iTech Worldwide (Consulting)
Sdn Bhd, an IT consulting and project management company; Technology
Asia Ventures Sdn Bhd, (TAV) a 70% owned venture capital company;
and THG Capital Sdn Bhd (formerly known as Vertex Avenue Sdn Bhd), a
wholly-owned investment company of TH Group. iTech had established a
JVC called THG E-Net Solutions Sdn Bhd with E-Net Corporation of
Korea, a leading e-business enabler, in early 2002.
This strategic partnership allows both parties to provide customised
software solutions for B2B/B2C, eProcurement, eMarketplace, eFinance,
eCRM and Mobile Commerce to Malaysia. iTech Worldwide (Consulting)
Sdn Bhd is an iTech subsidiary that provides IT consulting,
re-engineering and management services. TH Group maintains offices
in Sandakan, Tawau, Kuala Lumpur, Kota Kinabalu Singapore, Jakarta
and Nunukan, as well as investments in the U.S., UK, Korea,
Singapore and Malaysia.
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