KUCHING: The Bintulu Development Authority (BDA) has acquired a 10 per cent stake in Pertama Ferroalloys Sdn Bhd through a Share Transfer Memorandum of Understanding (MoU), which is a milestone move for economic growth, community development, and sustainable initiatives in Sarawak.

The share transfer agreement was formalised by BDA and Pertama Ferroalloys in a ceremony held in Tokyo on Tuesday, Sarawak Public Communication Unit (UKAS) said in a statement today.

The MoU was signed by Pertama Ferroalloys chairman and managing director Hirotaka Suzuki and BDA general manager Datuk Muhamad Yakup Kari and witnessed by Sarawak Premier Tan Sri Abang Johari Tun Openg.

Also present were Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan, Malaysian Ambassador to Japan Datuk Shahril Effendi Abd Ghany, and the State Minister for Utility and Telecommunication Datuk Seri Julaihi Narawi.

According to the statement, the partnership builds on previous milestones achieved by Pertama Ferroalloys and BDA, including the successful Bamboo Cultivation Project launched in November 2023 which showcased their dedication to sustainable practices and environmental conservation.

Suzuki said the partnership extends beyond financial investment as it will also make positive contributions to the societal and environmental well-being of Sarawak.

He anticipates that support from both parties will foster economic growth not only in Bintulu but also across Sarawak and Malaysia.

This will enhance the well-being of the local communities, and also serve as an example for organisations and leaders in driving sustainable initiatives in Sarawak, thus aligning with the visionary post-COVID-19 Development Strategy (PCDS) 2030,” he said in his speech at the ceremony.

Pertama Ferroalloys's smelting plant in Bintulu, Sarawak is the first large-scale manganese alloys and ferrosilicon plant in Malaysia.

The company produces and distributes manganese alloy products to the global steel industry while also prioritising sustainability alongside profitability.