KUALA LUMPUR: East West Horizon Plantation Bhd, a unit of East West One Group (EWOG), expects the take-up rate for its recently launched East West Horizon Planters' Scheme (EWHPS) to hit 20% by year's end, raking in over RM60mil.
Chief executive officer Datuk Dr Jessie Tang said that since its soft launch in February, local and foreign investors have taken up close to RM20mil in the scheme.
The oil palm plantation interest scheme, which has a minimum average return of 76% over eight years, promises investors an average annual return of between 9.5% and 11% in the first eight years, depending on the size of their investment.
There are 8,220 planters blocks, of which 5,753 are made available for investors under four categories.
The Sapphire category, which is RM20,000 per block, promises an average annual return of 9.5% while the Ruby category at RM60,000 per block gives an average annual return of 10%.
The Emerald category is RM120,000 per block with an average annual return of 10.5% while the Diamond category is at RM180,000 per block, giving an average annual return of 11%.
"We are confident of selling off all the blocks in three to five years as evident in the success of the East West One Planters Scheme, which performed well and was almost sold out," she told Bernama.
"So far, we have planted over 3,642ha in Sabah for the first scheme and we have started harvesting already in some areas," Tang said, pointing out that 30% of the total blocks were kept as reserves.
She is optimistic that palm oil investments were highly feasible long-term investments as the industry held immense promise for growth, given the usage and global demand.
The group has vast land in Sabah for oil palm plantation development and management, given the favourable agronomic factors for oil palm cultivation, in particular, good soil with year-round rainfall.
She said after harvesting, the fresh fruit bunches would be sent to nearby mills and thereafter the produced crude palm oil would be exported to main consuming countries such as China, India and Pakistan.
"We plan to have our own mill with a capacity of 60 tonnes in the near future, that means we should have between 4,000 and 6,000ha to harvest in order to feed that mill," she added. - Bernama
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