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Tuesday, February 12, 2013

Golden Palm Growers Scheme Well Planned

2 Rabiulakhir 1434

GUA MUSANG, Feb 10 , 2013- The Golden Palm Growers Scheme has been well planned and will not be affected by problems faced by other similar agricultural based investment schemes, said the Executive Chairman of Golden Palm Growers Bhd, Andrew Phang.

"Our plantation in Gua Musang has been moving according to plan and will move forward as promised.

"All schemes are different, every scheme is structured very differently and our business model is structured to reflect the stage of growth of the trees.

"We will pay to investors the returns when the trees start to give commercial yields in six years time which is 2016 and that way we never had a mismatch between revenue and our payout to investors," he told Bernama during a tour of the company's estate here.

While the company's plantations may have similar external problems as what other plantations face, but with proper management, these obstacles could be overcome, he said.

Golden Palm Growers since 2010 has been involved in the oil palm plantation business, in particular the development and subsequent management of oil palm plantations.

It operates an oil palm plantation of approximately 4,550 hectares in Gua Musang, Kelantan.

A total of 44,000 growers' plots have been created in the plantation where each plot is about a quarter acre and costs RM9,600 per plot.

Under the scheme, investors could regain a guaranteed return of six per cent per annum plus a bonus for up to 2016.

More information: BERNAMA

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