FGP: Q2 PROJECT UPDATES

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Author: Mohamed Hamza Ghaouri

It has now been a year since the launch of the FINTERRA Global Plantation (FGP), an impactful project focussing on the farming of Paulownia trees for Timber. With the objective of developing sustainable timber forestation, and serving as an impactful investment opportunity, this remarkable initiative is a joint venture in part between FGP, and Gain Green.

Over the last 1 year, FGP has successfully funded and planted thee plots of land, each 500 acres. Despite the slowdown caused by Covid, work on the farms has not slowed down. FGP is well on its way to achieving its initial target of completing the funding and planting of 2500 acres over by year end 2021.

Client visits:

Farm Machinery:

Phase I: Plantation Growth Images

Phase II: Plantation Growth Images

Q2 & Q3 Farm Operations Project Plan

Phase 2 & phase 3 of the plantation started in January 2021 and April, respectively. The lands used for these two phases are adjacent to that which was used for Phase 1. The planting of 300,000 seedlings is complete on the 1000 acres Sime Darby land, with only regular farm maintenance required moving forward since by Gain Green.

Paulownia Plantation status

The Project continues to be under the watchful eyes of Mr Law, the CEO of Gain Green and his team. He continues to be integrally involved in the overall management and supervision of the plantations. Despite the lockdown, he still makes time to visit the plantations to provides FGP with detailed updates monthly and to ensure all aspects of the plantations are in place, with all great efforts put into place for a successful harvest in 40months. Gain Green also ensure that all its farm workers follow the strict health SOPs and has their staff tested and vaccinated regularly.  They have also stationed a full-time plantation manager and site manager at the Anak Kulim, Kedah site for this purpose.

Terracing:

Final Summary

The FINTERRA Global Plantations Paulownia project (Phase-2 & 3), comprising of 1000 acres of Paulownia Timber at Anak Kulim, Kedah is well on schedule as per the project plans shared in July 2020. All the planting targets for the phases (i.e: Q1, Q2 & 3 (Oct – June 2020) have been met, with minimum disruption from namely (i) Movement Control Order due to COVID-19, (ii) torrential rains, (iii) infestation of wild boars in surrounding natural forests. With FGP’s proper planning and with sufficient mitigations put into place right from the start, we and have resulted in no time loss. All the trees growing are within the expected growth range. Plantation scheduled maintenance works are carried out as per PM plan, with no recorded failures so far. All in all, the project is going strongly with our coupon pay-outs being made on time without fail.

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