Asia Plantation Capital Sdn Bhd announced a joint venture to cultivate the endangered Aquilaria Sinesis tree with an existing Malaysia plantation owner. Asia Plantation Capital will take over management, inoculation and harvesting of the Malacca plantation’s Aquilaria Sinesis trees. This joint venture is part of a S$50 million Asia Plantation Capital strategy to invest and expand operations in Malaysia over the next few years.
Endangered but in high demand, the Aquilaria species of tree is used for many purposes, including Traditional Chinese Medicines, high end incense sticks and even as a base ingredient in some of the latest luxury artisan fragrance from high end perfume brands around the world. Asia Plantation Capital brings its expertise in sustainable cultivation, knowledge of trading within stringent international regulations and best-in-class inoculation techniques that is recognized as being one of the best in the industry for the Aquilaria tree.
“We are very pleased to be partnering with Asia Plantation Capital to cultivate the Aquilaria Sinesis trees on our plantations. Asia Plantation Capital’s research into the inoculation and management of the Aquilaria species by their Global Scientific Advisory Board is very impressive. Their inoculation process delivers 100% success with every tree,” said the Malacca plantation’s spokesperson.
“Asia Plantation Capital’s success together with its recent attainment of Sharia compliance for one of their products awarded by IBFIM, convinced us that they were the partners of choice for us in Malaysia.”
Asia Plantation Capital has been actively expanding its operations in Malaysia as part of its strategic growth plan in Asia. Recently opening a factory and distillery in Johor, the harvested trees from this joint venture will be processed at the new Johor facilities and marketed both locally and internationally. Asia Plantation Capital will also look to partner with other local plantation owners and provide them with Asia Plantation Capital’s systems, techniques and sustainable approach.
“At Asia Plantation Capital, we have been and continue to propagate the Aquilaria species of trees through sustainable cultivation and reintroducing it back to its native lands,” said Mr Steve Watts, Chief Executive Officer, Asia Plantation Capital Asia Pacific. “We are very excited about this opportunity to expand our operations in Malaysia through this joint venture. Through this partnership, we intend to develop a showcase plantation of Aquilaria Sinesis trees here in Malaysia. This will include the building of a nursery to grow saplings for the plantation.”