KUALA LUMPUR (Aug 10): Boustead Plantations Bhd’s (BPB) subsidiary Boustead Agro Plantations Sdn Bhd has signed a document of understanding (DOU) — with Pertubuhan Peladang Kawasan Kuala Langat (PPKKL) — to venture into the sustainable and technology-driven commercial crop market.
In a statement on Wednesday (Aug 10), it said the DOU establishes the cooperation between the two parties in initiating and developing a commercial crop project, namely for chilli and ginger, via a turnkey basis, with the utilisation of a smart fertigation system and smart farming Internet of Things.
“This endeavour signifies BPB’s maiden effort in tapping into other sources of agricultural markets apart from its already established upstream oil palm plantation business.
“It also entails BPB’s commitment to cultivating commercial crops on its land with PPKKL to provide its technical expertise, guidance, and training to ensure successful cultivation,” BPB said.
Chief executive officer Zainal Abidin Shariff said the company’s venture into the commercial crop business indicates its steadfastness in assisting the government to address the issue of food security in Malaysia.
He said this is also aligned with the company’s commitment to the United Nations’ Sustainability Development Goals, among which aim to achieve zero hunger by 2030.
“Guided by the Reinventing Boustead strategy, our ultimate aim is to achieve sustainable growth over the long term, with adherence to the principles of environmental, social and governance,” he said.
BPB is one of the most experienced and established upstream oil palm plantation companies in Malaysia. Its major shareholders are Boustead Holdings Bhd and Lembaga Tabung Angkatan Tentera.
Source: The Edge