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SumiSaujana Group Berhad, a specialty chemicals manufacturer, has entered into a Licensing and Commercialisation Agreement with the Malaysian Palm Oil Board (MPOB) to manufacture and market innovative palm-based technologies.

This partnership will see SumiSaujana produce and commercialize palm-based intermediates, palm-based polyols, and bio-based polyester polyols, offering sustainable alternatives to traditional petroleum-based chemicals for a wide range of industrial applications. Notably, SumiSaujana is poised for its listing on Bursa Malaysia鈥檚 ACE Market this month.

The licensed technologies, developed through extensive in-house research by MPOB, leverage the versatility of palm oil to create renewable raw materials. These compounds are crucial in the production of polyurethane, a versatile polymer used extensively across sectors including automotive, construction, adhesives, coatings, and consumer goods.

Under the terms of the agreement, SumiSaujana鈥檚 wholly-owned subsidiary, SumiSaujana TCM Chemicals Sdn Bhd (SSTCM), secures the rights to utilize MPOB鈥檚 technology for the manufacturing and commercialization of these palm-based polyols and bio-based polyester polyols. In return, SSTCM will pay MPOB a one-off licensing fee of RM800,000, to be paid in stages over five years, along with a 2% royalty on the gross sales revenue generated from products manufactured. The license is initially granted on a limited exclusivity basis for a period of five years, with the possibility of extension later.

The global polyurethane market is projected to reach a substantial $86.28 billion by 2024, while the market for palm-based intermediates was estimated at $17.0 billion in 2022.

Encik Norazlam Bin Norbi, Executive Director/ Chief Executive Officer of SumiSaujana, expressed his enthusiasm for the collaboration, stating, 鈥淭his agreement with MPOB represents a meaningful step in our long-term growth strategy. We see tremendous value in integrating sustainable palm-based innovations into our product portfolio, enabling us to serve new markets while remaining aligned with the global shift towards environmentally responsible manufacturing. We are proud to play a role in commercialising Malaysian-grown technologies for global impact.鈥�

Datuk Dr. Ahmad Parveez Hj. Ghulam Kadir, Director-General of MPOB, echoed this sentiment, emphasizing the broader implications of the partnership. 鈥淭his collaboration signifies more than just technology transfer; it reinforces the role of public-private synergy in sustainable industrial development. It would provide the industry players with the opportunity to explore the potential of MPOB鈥檚 innovative technologies and contributes to the growth of a more sustainable and competitive chemical industry at the global level. By expanding the downstream potential of palm oil, we are not only elevating its value chain but also promoting Malaysia鈥檚 role in climate-conscious manufacturing.鈥�