MARKET DEVELOPMENT
Ewoc\'s Planters Scheme To Hit 75 Per Cent Take-Up Rate By Year-End
Ewoc\'s Planters Scheme To Hit 75 Per Cent Take-Up Rate By Year-End
20/05/2013 (Bernama) - Sabah-based East West One Consortium Bhd (EWOC), expects the take-up rate for its East West One Planter's Scheme (EWOPS), to hit 75 per cent by year-end, said Chief Executive Officer Datuk Dr Jessie Tang.
At present, 40 per cent of the oil palm oil investment scheme, has been sold to local and foreign investors.
"Our 4,452-hectare plantation which is strategically located in the west coast of Sabah, utilises advanced resources such as machinery, high quality seeds, efficient contractors and reputable suppliers.
"Given that we are also currently ahead of our planting schedule, I'm optimistic of meeting our target," she told Bernama.
EWOPS is a short-term investment scheme which differs from other competing grower schemes in the country.
Launched in September 2011, it is approved as an interest scheme under the Companies Commission of Malaysia.
The scheme's dividend payout is made on a quarterly basis and not dependent on the crude palm oil price, which is a pre-requisite for dividend payouts in most oil palm investment schemes.
There are 16,588 planters blocks with guaranteed returns of up to 10 per cent per annum, made available for investors under four categories, that is, Premier, priced at RM58,880 per block, Gold (RM28,880), Silver (RM10,000) and Bronze (RM5,000).
Tang noted that the Premier category is thus far the "best-seller", given investors are attracted to its higher rate of returns.
"We're constantly updating the scheme's development on our website for investors to keep track of the latest planting progress.
"We've been paying out dividends promptly, which is why our investors have high confidence in EWOPS and many have returned to top up their investment," she said, pointing out, that Sabah had the most suitable soil conditions for oil palm cultivation in Malaysia.
Sabah's yield is also among the highest in the country with plantations there producing more than 22 metric tonnes of fresh fruit bunches per hectare annually, according to the Malaysian Palm Oil Board.
In some states of Peninsular Malaysia, especially those in the East coast, the yield is only half that of Sabah.
Meanwhile, during a site visit to the EWOPS, Managing Director Datuk Peter Khoo Keok Swa said the scheme is expected to be fully developed in eight phases by mid-2014.
"The EWOPS planting progress has been ahead of our company's projections with more than 1,500 hectares been planted so far.
"By end-June, we aim to have a total planted area of more than 2,250 hectares," he said.
In another development, Tang said EWOC had acquired a parcel of land close to the plantation to build a mill with a 60-tonne per hour capacity.
The mill will allow the EWOCB to progress further downstream and at the same time, provide milling facilities to smallholders in its vicinity of operations, she added.
The mill is expected to be ready once commercial yield was achieved.
At present, 40 per cent of the oil palm oil investment scheme, has been sold to local and foreign investors.
"Our 4,452-hectare plantation which is strategically located in the west coast of Sabah, utilises advanced resources such as machinery, high quality seeds, efficient contractors and reputable suppliers.
"Given that we are also currently ahead of our planting schedule, I'm optimistic of meeting our target," she told Bernama.
EWOPS is a short-term investment scheme which differs from other competing grower schemes in the country.
Launched in September 2011, it is approved as an interest scheme under the Companies Commission of Malaysia.
The scheme's dividend payout is made on a quarterly basis and not dependent on the crude palm oil price, which is a pre-requisite for dividend payouts in most oil palm investment schemes.
There are 16,588 planters blocks with guaranteed returns of up to 10 per cent per annum, made available for investors under four categories, that is, Premier, priced at RM58,880 per block, Gold (RM28,880), Silver (RM10,000) and Bronze (RM5,000).
Tang noted that the Premier category is thus far the "best-seller", given investors are attracted to its higher rate of returns.
"We're constantly updating the scheme's development on our website for investors to keep track of the latest planting progress.
"We've been paying out dividends promptly, which is why our investors have high confidence in EWOPS and many have returned to top up their investment," she said, pointing out, that Sabah had the most suitable soil conditions for oil palm cultivation in Malaysia.
Sabah's yield is also among the highest in the country with plantations there producing more than 22 metric tonnes of fresh fruit bunches per hectare annually, according to the Malaysian Palm Oil Board.
In some states of Peninsular Malaysia, especially those in the East coast, the yield is only half that of Sabah.
Meanwhile, during a site visit to the EWOPS, Managing Director Datuk Peter Khoo Keok Swa said the scheme is expected to be fully developed in eight phases by mid-2014.
"The EWOPS planting progress has been ahead of our company's projections with more than 1,500 hectares been planted so far.
"By end-June, we aim to have a total planted area of more than 2,250 hectares," he said.
In another development, Tang said EWOC had acquired a parcel of land close to the plantation to build a mill with a 60-tonne per hour capacity.
The mill will allow the EWOCB to progress further downstream and at the same time, provide milling facilities to smallholders in its vicinity of operations, she added.
The mill is expected to be ready once commercial yield was achieved.