Indonesian to invest RM100 million in 2 plants

Indonesian entrepreneur and scientist Satya Darshan plans to invest some RM100 million (US$30.08 million) to set up two manufacturing plants in Malaysia to produce palm kernel oil-based therapeutics and medicated products as well as biofuels from palm oil and palm kernel oil. Darshan, chief executive officer of Onasen Sciences Sdn Bhd and Lycozone Sdn Bhd, said Malaysia was chosen as the company’s global headquarters due to its infrastructure, availability of researchers, palm oil supply and access to global market. Satya said half of its investment allocation will be used for the Onasen facility to produce and package over-the-counter formulations for medical and skin use, using ozonated palm kernel oil. Another RM50 million (US$15.04 million) will be spent on the Lycozone plant that will produce ozonated palm kernel and olive oils as well as a range of environmental-friendly biofuels and fuel additives. He said Onasen is expected to break even and fully recover its cost within three years, while Lycozone within two years. (March 12, 2010)