MARKET DEVELOPMENT
East West Horizon Planters' Scheme Expects 20 Pct Take-Up By Year-End
East West Horizon Planters' Scheme Expects 20 Pct Take-Up By Year-End
21/07/2015 (Bernama) - East West Horizon Plantation Bhd, a unit of East West One Group (EWOG), expects the take-up rate for its recently launched East West Horizon Planters' Scheme (EWHPS) to hit 20 per cent by year end, roping in over RM60 million.
Chief Executive Officer Datuk Dr Jessie Tang said since its soft launch in February, local and foreign investors have taken up close to RM20 million worth of subscription in the scheme.
The oil palm plantation interest scheme, which has a minimum average return of 76 per cent over eight years, promises investors an average annual return of between 9.5 per cent and 11 per cent in the first eight years, depending on the size of their investment.
There are 8,220 planters blocks, of which 5,753 are made available for investors under four categories.
The Sapphire category, which is RM20,000 per block, promises an average annual return of 9.5 per cent while the Ruby category at RM60,000 per block gives an average annual return of 10 per cent.
The Emerald category is RM120,000 per block with an average annual return of 10.5 per cent while the Diamond category is at RM180,000 per block, giving an average annual return of 11 per cent.
"We are confident of selling off all the blocks in three to five years as evident in the success of the East West One Planter's Scheme (EWOPS), which performed well and was almost sold out," she told Bernama.
EWOPS, which comes under the EWOG umbrella, is the first scheme by EWOG.
Launched in 2011, EWOPS has seen 15 quarterly returns duly paid by the trustee to the investors.
The proceeds from the investment fund would be used for the development of oil palm plantation.
"So far, we have planted over 3,642 hectares in Sabah for the first scheme and we have started harvesting already in some areas," Tang said, pointing out that 30 per cent of the total blocks were kept as reserves.
He was optimistic that palm oil investments were highly feasible long term investments as the industry held immense promise for growth, given the usage and global demand.
The group has vast land in Sabah for oil palm plantation development and management, given the favourable agronomic factors for oil palm cultivation, in particular, good soil with year-round rainfall.
She said after harvesting, the fresh fruit bunches would be sent to nearby mills and thereafter the produced crude palm oil would be exported to main consuming countries such as China, India and Pakistan.
"We plan to have our own mill with a capacity of 60 tonnes in the near future, that means we should have between 4,000 and 6,000 hectares to harvest in order to feed that mill," she added.
Chief Executive Officer Datuk Dr Jessie Tang said since its soft launch in February, local and foreign investors have taken up close to RM20 million worth of subscription in the scheme.
The oil palm plantation interest scheme, which has a minimum average return of 76 per cent over eight years, promises investors an average annual return of between 9.5 per cent and 11 per cent in the first eight years, depending on the size of their investment.
There are 8,220 planters blocks, of which 5,753 are made available for investors under four categories.
The Sapphire category, which is RM20,000 per block, promises an average annual return of 9.5 per cent while the Ruby category at RM60,000 per block gives an average annual return of 10 per cent.
The Emerald category is RM120,000 per block with an average annual return of 10.5 per cent while the Diamond category is at RM180,000 per block, giving an average annual return of 11 per cent.
"We are confident of selling off all the blocks in three to five years as evident in the success of the East West One Planter's Scheme (EWOPS), which performed well and was almost sold out," she told Bernama.
EWOPS, which comes under the EWOG umbrella, is the first scheme by EWOG.
Launched in 2011, EWOPS has seen 15 quarterly returns duly paid by the trustee to the investors.
The proceeds from the investment fund would be used for the development of oil palm plantation.
"So far, we have planted over 3,642 hectares in Sabah for the first scheme and we have started harvesting already in some areas," Tang said, pointing out that 30 per cent of the total blocks were kept as reserves.
He was optimistic that palm oil investments were highly feasible long term investments as the industry held immense promise for growth, given the usage and global demand.
The group has vast land in Sabah for oil palm plantation development and management, given the favourable agronomic factors for oil palm cultivation, in particular, good soil with year-round rainfall.
She said after harvesting, the fresh fruit bunches would be sent to nearby mills and thereafter the produced crude palm oil would be exported to main consuming countries such as China, India and Pakistan.
"We plan to have our own mill with a capacity of 60 tonnes in the near future, that means we should have between 4,000 and 6,000 hectares to harvest in order to feed that mill," she added.