KUALA LUMPUR, Malaysia, July 1, 2020 /PRNewswire/ -- Incessant and hostile climate conditions have dealt significant blows to Asia Plantation Capital's assets in recent years, with El Niño weather patterns and unprecedented droughts causing record disaster zones in Thailand and Sri Lanka, and leaving no region unscathed. This has severely impacted the possibility to harvest the affected plantations and see returns, delaying profitability and costing the business 36 million USD in 2019/20. As part of a deliberate strategy to build more resilience into the business moving forward, Asia Plantation Capital has already embarked on a proactive diversification.
Marking over a decade in operation, it has proven its longevity in an industry which has been rife with scams. Asia Plantation Capital is now launching a new set of measures and processes designed to continue to strengthen its approach, and most importantly adaptability to contend with unforeseen environmental challenges to build resilient plantations. The firm takes pride in its robust approach to compliance and regulation, which has been woven into its DNA through years of working closely with some of the most well-respected bodies in the industry, such as the Malaysia UN body, International Timber Board and CITES (Convention on International Trade in Endangered Species).
Asia Plantation Capital has built micro economies across multiple rural areas which are reliant on the plantations, with seasonal staff who have also suffered due to the impact of climate change. Currently servicing over 8,000 clients globally, the group has Agarwood tree plantations in Malaysia, Sri Lanka and Thailand. Agarwood is used in a diverse range of products, such as fine perfumes, cosmetics, incense and bakhour.
Asia Plantation Capital has completed extensive research to navigate a post-pandemic landscape – ensuring the continuity of its business. The group is looking to stimulate the business's growth prospects through species diversification such as planting coconut, which is both environmentally friendly and results in zero waste due to its use in a vast array of popular goods, such as biomass fuels, coconut milk, oil and water.
Steve Watts, Chief Executive Officer at Asia Plantation Capital, comments: "We have risen above and beyond to meet unforeseen challenges and are implementing evolving new measures to pursue a rigorous, resilient business model moving forward. The company's primary goal is to recover and stabilise the business to ensure a secure foundation from which to move forwards and safeguard its clients' interests, whilst striving to achieve our mutual goals and restore customer confidence."
About Asia Plantation Capital
Asia Plantation Capital is currently investing heavily in the Malaysian and Thailand plantation sector, developing new plantations and factories to produce agarwood (gaharu) and other associated products for the international export markets. The company has further strengthened its presence in Malaysia by moving its headquarters to downtown Kuala Lumpur, a year after opening one of the largest agarwood processing factories and distilleries in Southeast Asia in Johor Bahru, Malaysia.
The Asia Plantation Capital Group is a multi-award-winning, sustainable plantation operator and management company, with projects across four continents. A market leader in the industry, its Scientific Advisory Board is comprised of leading academics from various countries, who have, between them, developed industry-leading technologies and systems.
With a focus on commercial plantation projects and vertically integrated businesses that offer a combination of commercial, environmental and community benefits, Asia Plantation Capital has created a successful and dynamic "triple bottom line" company.