Raub gold mining: Who owns the company?

Raub gold mining: Who owns the company?

Raub Australian Gold Mining Sdn Bhd has started gold mining in Bukit Koman near Raub, raising concern among neighbouring communities about health risks. But who exactly owns RAGM?

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This is from the Peninsular Gold Ltd website:

Peninsular Gold Limited, a company incorporated in Jersey, is the holding company that owns via its two wholly-owned Malaysian subsidiaries namely, Raub Australian Gold Mining Sdn Bhd (RAGM) and S.E.R.E.M Malaysia Sdn Bhd (SEREM), gold exploration rights and conducts mining activities in the Raub District of the State of Pahang, Malaysia. Raub is Malaysia’s most historic gold mining centre that has produced over 1million oz mostly from underground operations over the period 1889 till 2004.

The Group’s mining and exploration interests are all located in Malaysia’s Central Gold Belt, which hosts the majority of Peninsular Malaysia’s gold occurrences, including the Raub, Selinsing and Penjom gold mines in the State of Pahang.

Peninsular Gold Limited is the first Malaysian-controlled gold mining company that is listed on AIM (Alternative Investment Market), London. The Group is being led by Dato’ Andrew Kam Tai Yeow as its Chairman and Chief Executive.

Who is Andrew Kam?

Dato’ Andrew Tai Yeow Kam (age 43)
Chairman and Chief Executive

Dato’ Andrew Tai Yeow Kam, a Malaysian citizen, was educated in England having attended Millfield School in Somerset and the University of Buckingham where he graduated with a law degree. He was admitted to the Malaysian Bar in 1988. He practices at Kam Woon Wah & Company, Kuala Lumpur. Apart from his legal practice, he has extensive entrepreneurial and management experience. In 1991 he was involved, as a founding director and shareholder in the development of a 440MW independent power plant in Port Dickson, Malaysia….

(Kam Woon Wah was secretary general of the MCA in the 1960s.)

And who are among the shareholders of Peninsular Gold?

Amongst the dignitaries who attended the formal Listing ceremony was Her Royal Highness, Princess of the State of Pahang, YAM Tengku Nong Fatimah Sultan Haji Ahmad Shah, the daughter of the Sultan of Pahang. The Princess and family are also shareholders of Peninsular Gold Limited.

A company search of RAGM in 2007 revealed that among its directors was Muhammad Moiz, an ex son-in-law of the Sultan of Pahang.

What’s more, the company has been granted preferential tax status:

The Raub project has been awarded Pioneer Status by the Malaysian Industrial Development Authority, the Malaysian government’s principal agency for the promotion and coordination of industrial development in Malaysia. The Pioneer scheme provides tax incentives to selected companies, and is intended to encourage investment in Malaysia. Participation in the scheme will benefit the Raub project’s economics to a substantial degree.

They extract the gold and they are given a whole lot of tax relief while the communities around worry about the health risks. Neat.

Who is subsidising whom?



  1. I was from raub… N very surprise on the tax relief for the gold mine but I don’t see much development in raub …. Even I m paying tax but Australian r not…hu hu hu

  2. Since there has been test carried out by the health ministry surely this matter can be laid to rest. agree with zahir, the people have the choice. can a 100 year old mine to be blamed and one can’t help but to have imagined the timing of all the health issues that were raised. Surely it did not happen over night?

  3. 50% of residents at kampung Bukit Koman at Raub near the gold minig area have suffered health problems like skin rashes and itch since the operation of cynide/gold mining.

    Yet the Health Ministry claimed that the gold mining activities are not the causes of these health problems.

  4. @Stephanie… you mean the Racket Club surely? :-)

    Bukit Koman residents, with the help of environmental NGOs, have been fighting this hideous and highly polluting industry before it even began operations. There have been mysterious deaths surrounding this issue (at least two pioneer members of the Bukit Koman residents action committee have died since the campaign began, both were relatively young). PDRM, as usual, intimidated the protesters and SB have them under surveillance. Ng Yen Yen, the MP in charge of the area, has been abusive, elusive and arrogant towards the Bukit Koman protesters. Why is this project immune from public scrutiny and why have they been given tax-exempt status? …The same ugly pattern can be seen in the case of Lynas. Australian mining knowhow, local political connections … sickens one to the core to witness such unmitigated greed and insensitivity!

  5. It is not about who and who owns the gold mining company. Such license is normally given to … cronies … anyway.
    The issue is how they extract the gold.
    Are they destroying the ecology and using toxic material to extract gold.

  6. BTW, very funny how Umno linked dr.asri, PAS etc. as “terrorist”..

    when in actual fact it’s Umno that is the biggest (culprit when it comes to) wang rakyat RM Billions that robbed our nation’s future….


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