Thanks, but no thanks to those eyeing MRB’s lands

PUTRAJAYA (Jan 3): To real estate developers who have been eyeing Malaysian Rubber Board (MRB) lands for property projects, Primary Industries Minister Teresa Kok says: “No, thank you”. 

In a press conference today, Kok said the board wants to concentrate on its core activities -- mainly research and development and to improve the overall rubber industry ecosystem.

“We have received many enquiries from developers expressing their interest to purchase or to partner with MRB for property development projects on MRB’s lands, but we are not interested as MRB’s main objective now is to enhance the country’s rubber industry and not to venture into property development,” she said.

MRB is currently led by its chairman Sankara Narayanan who has formed a new general oversight committee comprising the chairman and senior board members together with two other sub-committees to oversee the audit, finance as well as research and development divisions.

Sankara said the board’s current landbank in Malaysia is estimated to be worth almost RM3 billion, with pockets of land located in prime areas in the Klang Valley including the site where the Bangunan Getah Asli is located on Jalan Ampang, Kuala Lumpur.

He noted that there is currently no need for MRB to monetise the land as the current market value is low.

Furthermore, RMB’s core activities are to enhance the rubber industry in Malaysia and not property development, he added.

“The Rubber Research Institute (RRI) under MRB was once the best rubber research institution and the envy of the world. However, along the way, RRI has lost its lustre and direction. Hence, MRB has set in motion [a plan] to reform RRI and to get MRB back to its original objective – to be the top R&D institution for rubber research and development,” he stressed.

According to Sankara, there are still around 600 rubber planters in Malaysia.