ID :
154421
Wed, 12/22/2010 - 17:36
Auther :
Shortlink :
https://oananews.org//node/154421
The shortlink copeid
GREENYIELD PLANS TO MANAGE RUBBER ESTATES IN ASEAN
KUALA LUMPUR, Dec 22 (Bernama) -- Greenyield Bhd, an agro-technology
solutions provider, is eyeing affordable and suitable land in South East Asia to
move into the upstream activity of managing rubber estates.
"We are looking at Cambodia and Indonesia. We have to look at several areas
like stable government, availability of workforce, acceptable inflationary index
and suitable and affordable land," said its group managing director Don Tham Foo
Keong after the company's annual general meeting Wednesday.
Greenyield has also partnered funeral services provider Nirvana Memorial
Park Sdn Bhd to plant up 1,000 acres with high yielding rubber trees in
Kelantan.
Their 30:70 joint venture company, Melati Aman Sdn Bhd, was granted rights
to plant latex timber clones on the state land for 50 years to 2059 by the
Kelantan state government.
Tham said the RM1 million (US$1=RM3.13) investment was worthwhile with the
SMR 20 rubber price at RM14 per kg currently.
He said Greenyield was moving upstream to manage rubber estates as it had
the expertise.
"Rather than giving advisory to plantation operators, we believe we can do
it for ourselves. Rubber plantation will be our growth focus for the next few
years," he added.
For its current financial year ending July 31, 2011, Tham said the company
is cautiously confident of the prospect, provided SMR 20 price remains stable at
above RM8 per kilo.
However, he said there were concerns of the risk of a stronger ringgit
impacting Greenyield's bottomline. The company exports 80 per cent of its total
production with the transactions denominated in the US dollar and euro.
For the current financial year, Tham said the company was also aiming for a
10 per cent growth in sales, as Greenyield is selling more of its Artstone plant
pots to Japan and China.
"We also hope for good recovery in US and Europe, as most of our plant pots
shipments are to these markets," he said.
Asked on their latex stimulant business, Tham said Ghana was a new market
for Greenyield.
"We are negotiating with private rubber estate owners there and we look
forward to closing the deals by January or February next year," he added.
Greenyield manufactures the latex stimulants in Vietnam.
solutions provider, is eyeing affordable and suitable land in South East Asia to
move into the upstream activity of managing rubber estates.
"We are looking at Cambodia and Indonesia. We have to look at several areas
like stable government, availability of workforce, acceptable inflationary index
and suitable and affordable land," said its group managing director Don Tham Foo
Keong after the company's annual general meeting Wednesday.
Greenyield has also partnered funeral services provider Nirvana Memorial
Park Sdn Bhd to plant up 1,000 acres with high yielding rubber trees in
Kelantan.
Their 30:70 joint venture company, Melati Aman Sdn Bhd, was granted rights
to plant latex timber clones on the state land for 50 years to 2059 by the
Kelantan state government.
Tham said the RM1 million (US$1=RM3.13) investment was worthwhile with the
SMR 20 rubber price at RM14 per kg currently.
He said Greenyield was moving upstream to manage rubber estates as it had
the expertise.
"Rather than giving advisory to plantation operators, we believe we can do
it for ourselves. Rubber plantation will be our growth focus for the next few
years," he added.
For its current financial year ending July 31, 2011, Tham said the company
is cautiously confident of the prospect, provided SMR 20 price remains stable at
above RM8 per kilo.
However, he said there were concerns of the risk of a stronger ringgit
impacting Greenyield's bottomline. The company exports 80 per cent of its total
production with the transactions denominated in the US dollar and euro.
For the current financial year, Tham said the company was also aiming for a
10 per cent growth in sales, as Greenyield is selling more of its Artstone plant
pots to Japan and China.
"We also hope for good recovery in US and Europe, as most of our plant pots
shipments are to these markets," he said.
Asked on their latex stimulant business, Tham said Ghana was a new market
for Greenyield.
"We are negotiating with private rubber estate owners there and we look
forward to closing the deals by January or February next year," he added.
Greenyield manufactures the latex stimulants in Vietnam.
