Asia Plantation gets nod for agarwood plan

KUALA LUMPUR: Asia Plantation Capital Bhd has received regulatory approval for its agarwood plantation investment programme, making it the first in Asia to be given such recognition.

After initial approval in August, Suruhanjaya Syarikat Malaysia (SSM) - the Companies Commission of Malaysia - has officially confirmed the final approval for the company to market its agarwood plantation investment programme in Malaysia and in the international market.

Asia Plantation Capital Bhd CEO, Steve Watts, said in a statement: “We are honoured to be the first company in Asia to have been given official regulatory approval for our vertically integrated agarwood plantation investments as we firmly believe that the industry as a whole needs comprehensive regulation.

“The group has always led the way in promoting a regulated agarwood industry in Asia. While this is a significant milestone for us as a company, we believe that all companies operating in the plantation investment sector in Asia should be regulated in this manner, not only for good corporate governance, but also for the protection of investors,” he said.

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