Golden Palm Growers Bhd

GOLDEN Palm Growers Bhd (GPGB) will launch this month an oil palm investment scheme, called "Golden Palm Growers Scheme", with returns pegged to oil palm prices.

The scheme will offer the retail public a chance to invest in an oil palm plantation and enjoy the full upside potential that comes with rising palm oil prices.

"The scheme is unique because, for the first time, the man in the street will be able to share the profits of an oil palm plantation directly.

"Such an opportunity is usually reserved for large corporates that have the money to develop a plantation on such a scale," GPGB executive chairman Andrew Phang told a media briefing in Kuala Lumpur yesterday.

Most Popular Articles
Obituary: Rochelle Diane Williams
THE LAST DAYS OF STUART ADAMSON; Last month the Big Country star
Obituary: MACNEILL, DAMIAN
S Magazine invades Middle East
Wife has TV host Tim back
Most Recent Articles

Phang said the minimum investment in the scheme will be a quarter acre plot, or about 11,000 sq ft, adding that details will be available during the prospectus launch on August 20.

GPGB has received regulatory approval from the Companies Commission of Malaysia for the scheme.

AmTrustee Bhd will act as a trustee for the scheme to enhance investor protection.

GPGB, set up in 2007, is a subsidiary of Sterling Plantations Sdn Bhd, which in turn is wholly owned by Sterling Biofuels International Ltd, a company listed on the Australian Stock Exchange.

GPGB was set up to develop a 4,000ha oil palm plantation in Gua Musang, Kelantan.

The land is owned by an agency of the Kelantan state government.

In September 2007, GPGB was granted the concession to develop, manage and maintain the oil palm plantation for 60 years, with an option to renew for another 30 years.

"The planting under phase one, comprising 800ha, is 30 per cent completed, and the palms will start to produce fruits in 30 months.

"The entire plantation will be planted out over the... [continues]

Read full essay