MYBiomass Sdn. Bhd. (“MYBiomass”) is a special purpose vehicle Initiated by the Malaysian Industry-Government Group for High Technology (MIGHT), and is a joint-venture company, together with FGV Holdings Berhad and Sime Darby Plantation Berhad, established to pioneer high-value green chemicals and materials biorefinery through coordinated aggregation.
First of all, I would like to thank MYBiomass’s shareholders, Sime Darby Plantation Berhad, FGV Holdings Berhad and the Malaysian Industry-Government Group for High Technology (MIGHT), for their dynamism to drive the Company and the country into a high growth, high value added bio-based industry. MYBiomass is an excellent testimony of the public-private partnership in action.
For the past years, MYBiomass has benefitted tremendously from the experience and business acumen of both YBhg Tan Sri Dato’ Seri Mohd Bakke Salleh (Sime Darby Plantation Berhad) and Dato’ Zakaria Arshad (FGV Holdings Berhad) and of recent YBhg Dato’ Seri Wira Azhar Abdul Hamid. MIGHT and its subsidiary VentureTECH has remained highly committed to facilitate the company’s move into this new market frontier. The shareholders and Board of Directors have pushed the management to adhere to the highest standards especially in terms of financial managements and market analysis. I believe future investments by both companies will be based on proven technologies and processes, and most importantly, market certainty, as reflected in the company’s emphasis on stringent due diligence process and risks management to ensure the success of the project.
In our vision to be the market leader in high value green chemicals through excellence in technology development, capacity building and enabling infrastructure, it certainly poses a lot of challenges to us to make this happen. However, the government through the Economic Planning Unit (EPU) and the Ministry of Science, Technology and Innovation (MOSTI) have been very supportive from both the financial and non-financial aspects. Though this is a private sector led-initiative, the government plays an important role in creating the conducive environment and knowledge-friendly ecosystem. Our strength also lies in our partners and collaborators who have been extensively engaged in the project.
Still, there is much to be done. We need all the perseverance and sound strategy to materialize this vision together. I strongly believed that the Board of Directors, Management, and Partners of MYBiomass possess the physical and mental strength to see this through till the day when the first bio-refinery will be operational and products benefitted the nation.
On behalf of the Board of Directors, I would like to express our utmost gratitude to all our shareholders, partners, and collaborators. I would also like to extend my appreciation to the management team for their relentlessly efforts and commitment in making MYBiomass an excellent organization and a future champion in this emerging high growth market segment.
Dr. Norida Abd Rahman
Managing Director of VentureTECH Sdn Bhd
MYBiomass Sdn Bhd is a special purpose vehicle created under the Malaysian Biomass Initiative (MBI) to pioneer high-value green chemicals biorefinery through coordinated aggregation.
Its aspiration is to develop new green technology businesses and make Malaysia a regional green chemical hub. It encourages private sector leadership in new and emerging technology businesses whilst the Government plays a supportive role by creating a conducive ecosystem and risk sharing.
This Private-Public Partnership plays a crucial role towards new gross national income creation from the industrial chemical, product manufacturing and green chemical sectors. This is done while addressing the best ways of working towards achieving a global green economy, poverty eradication and sustainable development.
YBHG DATUK DR. MOHD YUSOFF SULAIMAN
President & Chief Executive Officer
Malaysian Industry-Government Group for High Technology (MIGHT)
Welcome to MYBiomass Sdn. Bhd. (MYBiomass) which, was established in 2011 to operationalize high value green chemical bio-refineries in Malaysia. In tandem with this goal, we are pioneering efforts to channel the local biomass landscape into more rewarding and niche areas. We have crossed several milestones since our inception to become a one-stop centre for the commercialization of biomass-based bio-refining in the country.
Oil palm biomass was especially chosen to catalyse the Malaysian biomass sector due to the availability and versatility of the plant. Besides cooking oil, oil palm generates an abundant variety of value-added products from its trunk, fronds and empty fruit bunches.
Our current goals include: identification and mitigation of technical and business risks along the biomass-based green chemical industry value chain; establishing a sustainable supply of biomass feedstock; setting up a viable commercial-scale project; attracting potential investors for the project; and product development.
The envisioned second generation bio-refinery would be one-of-its-kind in the world as it will use our own plantation residue. Depending on the intended final product, the bio-refinery will employ cutting-edge technologies to produce platform chemicals (e.g. butanol, butanediol, flavour and fragrance etc.) and materials (e.g. dissolving pulp and nanocellulose etc). While the bio-refinery is expected to be operationalized by 2020, we are already supplying biomass to our customers in sectors such as energy generation, furniture manufacture and composting plants.
As our business-driven model adopts a 360° approach, we work on smart-partnerships between the government, key industry players, off-takers, local and international technology partners, academia and research institutes (RIs). In view of this, we welcome partners who can provide multifaceted synergies to development of local bio-refineries.
Finally, I would like to take this opportunity to express my gratitude to our Shareholders and Board of Directors who had unwaveringly supported us through many challenges and milestones. A thank you also goes out to the MYBiomass Techo-Economic Working Committee (MTEWC) members who have guided our team throughout the years. Your inputs have been valuable to us. And to all MYBiomass staff, a big "Thank You" for your continual dedication and hard work.