MARKET DEVELOPMENT
East West Horizon Plans To Raise RM320 Million From Planter's Scheme
East West Horizon Plans To Raise RM320 Million From Planter's Scheme
08/06/2015 (Bernama) - East West Horizon Plantation Bhd, a unit of East West One Group' s (EWOG) aims to raise up to RM320 million within three years from its newly launched East West Horizon Planters' Scheme (EWHPS).
The proceeds would be used for the development of oil palm plantation, said Chief Corporate Officer Kenneth Chai.
He said investors have taken up between RM15 million and RM20 million worth of subscription in the scheme since its soft launch in February.
"Despite the gloomy commodity market, we could still attract high-net worth investors within two months and this proves investors' confidence in our product.
"We offer as much as 88 per cent return over eight years with low and full capital repayment upon maturity," he told reporters after the launch of the scheme here today.
Chai said the EWHPS was approved as an investment scheme under the Companies Act, 1965 by the Companies Commission of Malaysia and comprise four investment categories namely Diamond, Emerald, Ruby and Sapphire.
"Investments range from RM20,000 to RM180,000 with average annual returns of between 9.5 per cent and 11.0 per cent," he said, adding that the product offered investors a safe and secured fixed-term alternative investment with high rate of returns.
He also said that investors would receive contractual returns in the fourth year.
EWHPS is the second oil palm investment scheme introduced by EWOG.
The group, which had previously introduced a similar oil palm investment scheme namely East West One Planter's Scheme via its unit East West One Consortium Bhd in 2011, have registered unblemished track record in paying back quarterly returns.
EWOG which had been in the oil palm investment business in Sabah for decades, has a combined land bank of close to 12,000 hectares in Sabah.
He said EWOG aimed to vertically integrate from oil palm plantation development and management to Fresh Fruit Bunches (FFB) collection and distribution, and finally to palm oil mill operations within the next five years.
"We are going ahead with our plan to build a palm oil mill and it will only come on stream within five years after we harvest sufficient FFB," Chai added.
On expansion plans, EWOG Director and Group Chief Executive Officer Datuk Dr Jessie Tang said the group would spread its wings to Indonesia.
"Due to scare land in Sabah, we decided to expand to Indonesia," she said, adding that EWOG already acquired some land bank in Indonesia.
Within three to five years, EWOG plans to be listed on the Main Market of the Bursa Malaysia.
The proceeds would be used for the development of oil palm plantation, said Chief Corporate Officer Kenneth Chai.
He said investors have taken up between RM15 million and RM20 million worth of subscription in the scheme since its soft launch in February.
"Despite the gloomy commodity market, we could still attract high-net worth investors within two months and this proves investors' confidence in our product.
"We offer as much as 88 per cent return over eight years with low and full capital repayment upon maturity," he told reporters after the launch of the scheme here today.
Chai said the EWHPS was approved as an investment scheme under the Companies Act, 1965 by the Companies Commission of Malaysia and comprise four investment categories namely Diamond, Emerald, Ruby and Sapphire.
"Investments range from RM20,000 to RM180,000 with average annual returns of between 9.5 per cent and 11.0 per cent," he said, adding that the product offered investors a safe and secured fixed-term alternative investment with high rate of returns.
He also said that investors would receive contractual returns in the fourth year.
EWHPS is the second oil palm investment scheme introduced by EWOG.
The group, which had previously introduced a similar oil palm investment scheme namely East West One Planter's Scheme via its unit East West One Consortium Bhd in 2011, have registered unblemished track record in paying back quarterly returns.
EWOG which had been in the oil palm investment business in Sabah for decades, has a combined land bank of close to 12,000 hectares in Sabah.
He said EWOG aimed to vertically integrate from oil palm plantation development and management to Fresh Fruit Bunches (FFB) collection and distribution, and finally to palm oil mill operations within the next five years.
"We are going ahead with our plan to build a palm oil mill and it will only come on stream within five years after we harvest sufficient FFB," Chai added.
On expansion plans, EWOG Director and Group Chief Executive Officer Datuk Dr Jessie Tang said the group would spread its wings to Indonesia.
"Due to scare land in Sabah, we decided to expand to Indonesia," she said, adding that EWOG already acquired some land bank in Indonesia.
Within three to five years, EWOG plans to be listed on the Main Market of the Bursa Malaysia.