From the website, GMG Global is a Singapore-based plantation group dedicated to long-term investments in Central, West Africa, and Asia.
GMG is an integrated producer of natural rubber engaged in the planting, growing, tapping, processing, marketing and exporting of natural rubber. The Group's emphasis is on producing premium rubber products for Europe, American and Asian markets.
GMG focuses on centrifuged latex and tyre-grade rubber; in addition to two supplementary products: block rubbers of latex and skim; "centrifuged latex grade rubber" used in gloves, condoms and adhesives industry and "tyre grade rubber" used in the manufacture of tyres (for cars, commercial trucks, machineries, etc).
In 2008, there was a shift in the shareholding structure of GMG with Sinochem International Corporation acquiring 51% of the GMG shareholding. Sinochem is publicly listed on the Shanghai Stock Exchange, and comprises a diversified international group specializing in the trading, manufacturing and transportation of chemicals, plastics, and rubber and metallurgy products. In the field of rubber business, Sinochem is placed at the top in the PRC in terms of natural rubber sales.
Besides having its first processing facility in South Kalimantan (P.T. Bumi Jaya), GMG expanded further into Kalimantan with a 75% stake in a joint venture (PT GMG Sentosa) and completed takeover on 15 January 2010 of a processing facility in Pontianak, West Kalimantan, that has an annual production capability of 25,000 metric tons.
There was a recent leadership change in the management in GMG Global. In July, GMG Global's Chairman Xian Ming, who is also from Sinochem International Corporation, was appointed as CEO, replacing Elson Ng. The latter is part of the GMG Global's original founding members and stays on as an advisor to the company. Taking over the position of Chairman was also another Sinochem International Corporation individual, Zhang Zhengen.
More recently in September, in response to a query to SGX over a sharp spike in trading activity, GMG said that was currently in discussions with certain parties to acquire a foreign company in Southeast Asia which is engaged in rubber production and trading. However, GMG said no agreement has been reached on the Proposed Acquisition, and there was no certainty as to whether such Proposed Acquisition will take place.
GMG also added that it was also in the process of embarking on a new rubber related project in Africa. To that end, it has since setup a JV company in Cameroon specifically for the development of natural rubber plantations.