Palm oil leaders, Asian Plantations Limited, have begun following through on a deal with Jubilant Paradise Sdn Bhd to acquire its major shares and its wholly owned subsidiary, Incosetia Sdn Bhd (the “Jubilant Group”), which owns a partly developed palm oil plantation totaling 5,850 hectares in Sarawak, Malaysia. When harvest begins on the property Asian Plantations will have officially reached their 2009 goal of doubling their nearly 5,000 hectare estate.
Asian Plantations has been on schedule in achieving its corporate objectives since the company first began, already earning its listing on London’s AIM and moving toward developing a crushing mill on its premises.
The latest acquisition forwards this goal, with the property located only five miles from Asian Plantation’s existing estate, promoting the goal of on site crushing. When the crushing mill is operational, the oil turnover rate is sure to increase considerably as well as diminish the company’s already minimal carbon footprint.
Even before these new developments, palm oil had already established itself as the most cost-efficient, environmentally friendly edible oil. This conclusion brought the necessity of expansion as many mature nations began seeking out less expensive, more eco friendly alternatives to pricy olive oil and fatty coconut oil. The demand for palm oil and the coinciding pressure to expand puts APL in a pivotal position. They are confident they will rise to the occasion and continue to streamline their operations to be profitable both fiscally and socially.
It is in the pursuit of this goal that Asian Plantations sought out the Incosetia Estate, over 1,000 hectares of planted land, consisting of palms of approximately three years of age.
About Asian Plantations Limited
Asian Plantation Limited is a Singapore incorporated company with 100 % owned Malaysian subsidiaries involved in the acquisition and development of palm oil plantation land in Sarawak, Malaysia. The company’s business strategy is to acquire under-priced, properly zoned agricultural land, which can be developed into high quality mature palm oil estates. The company became listed on the AIM (London Stock Exchange) in 2009.
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