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Fenning Pacific (Fiji) Limited

Fenning Pacific (Fiji) Limited ("Fenning Pacific") was incorporated in Fiji on 17 June 1994.  The principal activities of its subsidiaries, The Pacific Lumber Company Limited and Timbers (Fiji) Limited are timber harvesting, saw milling, kiln-drying, retail, wholesale and export of Fijian indigenous timber. The Fenning Pacific Group has attained a place as the premier native hardwood processor in the southern island of Fiji, Viti Levu and the second highest processor of native sawlogs in Fiji.

On 15th December, 2004 the directors of OGL announced to the ASX the proposed strategic shift in business activities from timber harvesting, sawmilling, kiln-drying and down-stream processing to commercial cultivation and development of tropical hardwood plantations.

Rationale for OGL’s Strategic Shift to Hardwood Plantation
The rapid depletion of natural forests and growing ecological concerns already has a significant impact upon the supply of tropical hardwoods. Even as the harvesting of natural wood becomes increasingly limited, demand for timber continues to increase rapidly from year to year.

The worldwide demand for FSC-certified tropical hardwoods harvested from managed forest plantations is growing rapidly. OGL has identified managed forest plantations as a significant resource and financial growth area. These plantations will yield a sustainable supply of high quality FSC-certified tropical hardwood planted and harvested in well managed and ecologically friendly as well as acceptable conditions.

With proper supervision these plantations will be able to enter into long-term agreements to meet demands for a variety of industries. Moreover, hardwood plantations will be able to take advantage of advances in biotechnology that will enhance timber farming and its spin-offs. Hardwood forestry farming, scientifically managed and supervised, is an emergent area that is likely to yield financial rewards that are both sustainable and profitable.

Forest Management Strategy
OGL will either acquire or lease on a long-term basis afforested and suitable lands, which satisfy quality assessments by qualified professionals and forest management consultants. These forest professionals and consultants will inspect and assess the plantation lands prior to any application being made to the relevant Authorities for their approval.

Throughout the life of the plantations, OGL will engage fully qualified professionals to carry out essential forest and land management tasks which will all times be governed by the objective of maximizing returns to OGL. OGL will manage its tropical hardwood plantations on a sustainable basis and will seek certification by the Forest Stewardship Council (FSC) in regard to its forest management practices.


P.T. Vision Renewable Fuels

P.T. Vision Renewable Fuels (“Vision”) is a special purpose vehicle set up via a strategic collaboration between ASX Listed Overseas & General Ltd and Megapacific Investment Ltd to venture into the renewable energy industry and expects to emerge not only as a significant producer in the biodiesel sector but also as a fully-integrated alternative energy provider.

Vision’s strategic partner, Megapacific Investment Ltd, is a growing investment holding company with core investments in manufacturing, transportation, engineering, contracting services, trading, property and real estate development.

Vision plans to build a 400,000 MT multi-feedstock biodiesel plant to be located in Batam Island, Riau Province of Sumatera, Indonesia. The plant will be implemented on a fast track basis with fabrication expected to commence in 3rd Quarter of 2008 and the plant coming on-line by the end of 3rd Quarter of 2009.

Strategically located on the Indian and Pacific Oceans -- only 12 miles from Singapore -- Batam Island and the Riau archipelago represents one of the most attractive industrial, manufacturing and logistical platforms in the ASEAN region. Batam Island is well-positioned to support Vision’s logistic operations such as procurement of feedstock (crude jatropha oil & crude palm oil) from the neighbouring countries and regions and export of biodiesel and refined glycerine to worldwide destinations. It is supported by basic modern infrastructure & facilities. Batam Island also offers good physical infrastructure facilities, low labour cost, competitively priced land and bonded zone where raw materials, machinery and equipment can be imported and finished goods exported duty-free.

For further information about P.T. Vision Renewable Fuels, please visit Vision’s website at www.vrfbiofuels.com.

 



 

 

 

 

 

 

 

 

 

 


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