FGP PROJECT UPDATE 3

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FGP January Update

For over one and a half years now FINTERRA Global Plantations (FGP) has continued in the planting and maintaining of Paulownia trees at its Anak Kulim plantation. This impactful project, focusing on the sustainable farming of the fast-growing Paulownia trees continues to serve as an impactful investment opportunity for many, and one which is being seen as a positive and impactful project for the environment.

As of date, FGP has successfully funded and planted 1500 acres. Despite the uncertainties caused by Covid, work on the farms had not slowed down with FGP achieving its initial target.

Client Visits:

FGP continues to take our clients for site visitations, to give them a feel of what the actual plantation looks like, and to see with their own eyes where their investment funds are being deployed.

Nursery

For each phase, seedlings are provided directly from the labs and are placed and managed in special nurseries for a month before being planted into the soil. Only the best seedlings are planted to ensure maximum growth of the trees over the 40 months.

Farm Operations Project Plan

Phase 4 of the plantation started in September 2021. The lands used is adjacent to the land which have been used for Phase 1, Phase 2, and Phase 3. The planting of 300,000 seedlings is completed on the 1000 acres Sime Darby land, with only regular farm maintenance required moving forward since by Gain Green.

Paulownia Plantation Status

The Project management 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 his busy schedule, he still makes time to visit the plantations and provides FGP with monthly updates on all matters related to the plantations. Additionally, the Anak Kulim plantation has a full time Plantation Manager on hand to ensure that all day-to-day operations at the plantation are being carried out successfully. In this way, we are confident that our first harvest will take place in 40 months as planned.

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, has 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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