PETALING JAYA: PLS Plantations Bhd, a front-runner in the Malaysian agro-food industry, through iwholly owned subsidiary Brighthill Synergy Sdn Bhd, has entered into a strategic partnership with Agrofresh Management Sdn Bhd to develop Malaysia’s largest banana plantation.
Agrofresh is a wholly owned subsidiary of Agrofresh International Sdn Bhd, which is extensively involved in the full value chain of the agriculture-based industry. It specialises in Cavendish bananas, boasting a portfolio of activities encompassing research and development, seedlings, plantations, packaging, trading nd exporting to China, Europe and the Middle-East.
The joint venture establishes a company named PLS Agrofresh Sdn Bhd, where PLS Plantations holds 60% and Agrofresh the balance. It is set to pioneer the development, operation, maintenance, and harvesting of an initial 500-acre banana plantation.
This collaboration is a testament to Agrofresh’s expertise in banana plantation and PLS Plantation's vision of agricultural growth. The partnership aims to scale up the initial 500 acres to 2,500 acres of banana plantations in the subsequent phases over three years.
PLS Plantations Bhd group CEO Lee Hun Kheng said: “This venture marks a significant step in the realisation of our ambitious growth plans. Our collaboration with Agrofresh is poised to make a substantial contribution to the evolution of the banana plantation industry in Malaysia. PLS seeks to become one of the largest banana planters in Malaysia.”
PLS Agrofresh executive director and CEO Datuk Tom Chow Chin Kiat said: “Our joint venture with PLS Plantations is the result of more than two years of meticulous planning and a testament to our collective commitment to agricultural innovation. Agrofresh’s expertise in the full value chain of the agriculture-based industry will merge with PLS Plantations' ambition to foster agricultural growth, creating a potent synergy for unparalleled success.”
He added that PLS Agrofresh’s first harvest from the maiden banana plantation is targeted for October or Novermber 2024.