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DUBAI, United Arab Emirates, Feb. 20, 2015 / PRNewswire — Asia Plantation Capital Berhad announced the attainment of Shariah compliance approval for its products by the IBFIM, formerly known as the Islamic Banking and Finance Institute Malaysia, the advisory body for Shariah compliance on all matters pertaining to Islamic banking in Malaysia.
Globally recognized in the Islamic world as a leader in this field, IBFIM is registered and licensed by the Securities Commission of Malaysia to provide Shariah regulatory structures and advice, and its regulatory board is made up from some of the leading banks in Malaysia. IBFIM’s approval thus clears the way for Asia Plantation Capital’s products to be marketed and sold in Malaysia and the global markets as Islamic products that meets all requirements as set out under the laws of Islam.
“As part of Asia Plantation Capital’s mission to respect local culture and integrate into the markets we are operating in, gaining this approval for Shariah compliance of our products has been very important for us,” said Mr. Steve Watts, CEO, Asia Plantation Capital, and Malaysia. “This gives our customers here in Malaysia and from around the Islamic world, confidence that they are not only investing in a sound product, but the assurance that it is socially responsible and fully in accordance with their beliefs. With more and more people in this region and the Middle East looking to alternative and sustainable investments that they can trust and be involved in, this is a strong statement of Asia Plantation Capital’s intent to meet their needs and our commitment to being socially responsible in every market,” continued Mr. Watts.
Asia Plantation Capital’s continued strong growth in Malaysia has also seen the appointment of Dr. Kodi Isparan Kandasamy, Senior Vice President (AgBiotech), Malaysian Biotechnology Corporation as a Non-Executive Board Director of Asia Plantation Capital Berhad. Concurrent with this appointment, Dr. Kodi has also been appointed to Asia Plantation Capital’s Global Scientific Advisory Board.
Also appointed to the Global Scientific Advisory Board is Associate Professor Yumi Zuhanis Has-Yun Hashim, FIBMS, and International Islamic University Malaysia. Asia Plantation Capital has signed a Letter of Intent (LOI) with the university to assist in the Professor’s studies into the use of Agarwood, Oud Oil and especially in the areas of cancer research which are already proving highly successful.
“These appointments into our Board-of-Directors and Global Scientific Advisory Board demonstrates our continued belief that Malaysia is and will continue to be a key market for our business. These experts in their respective fields will contribute immensely to our business, research and ability to operate successfully in Malaysia. I am very much looking forward to working closely with them to achieve more for our clients in Malaysia and around the world,” added Mr. Watts.
Asia Plantation Capital are hosting a series of events starting on the 21st February at The Address Hotel at the Dubai Mall to explain their sustainable Oudh plantations’ and showcase their Oudh Oil and products. The Address Hotel is also the location where their retail partner Fragrance Du Bois also have a concession in the Casal & Co boutique.
For more information, on the events, please contact Dean Henry at firstname.lastname@example.org.
For more information on the Fragrance Du Bois’ perfumes, please visit Casal & Co at the Address Hotel at the Dubai Mall.
Notes for Editors:
For further information, please contact:-
Chief Executive Office, Middle East
Office: +971 436 247 01
Group Marketing Director
Office: +65 6222 3386
Mobile: +65 9750 7440
About Asia Plantation Capital
- US$ 600 million – combined value of assets owned and under management
- US$ 53.5 million – turnover in the last financial year
- US$ 100 million – turnover forecast for current financial year
- 2,000,000 – Aquilaria trees today, on Agarwood plantations.
Asia Plantation Capital (APC) is the owner and operator of a diverse range of commercial plantation and farming businesses across the Asia-Pacific region and around the world, and is part of the Asia Plantation Capital Group of associated companies. Its focus is on multicultural and diverse plantation projects geared to the domestic and commercial demands of the countries in which it operates. Working closely with, and supporting local communities, is an underlying core principle of the APC business, providing social and cultural support, as well as investment, to move these communities away from deforestation and illegal logging activities, previously seen as a main source of income in some regions of Asia. Established officially in 2008 (although operating privately since 2002) the group now has plantation and agricultural projects on four continents, with operational projects at various stages in Thailand, Malaysia, China, Laos, India, Cambodia, Sri Lanka, Myanmar, Vietnam, North America and Europe.
Promoting the use of sustainable and certified wood is the best way of preventing deforestation, protecting biodiversity, and combatting poverty in the tropical rainforest regions. For the yachting sector (a major user of teak) which strives for excellence and which is already involved in environmental efforts, this is also a way of ensuring that no wood from illegal logging is used.
IBFIM mandated by the nation’s financial and capital market master plans to develop human talent for the Islamic financial sector, has made a number of achievements since its formation in 2001.
The institute, whose stakeholders include Bank Negara Malaysia, the Islamic banks, investment banks, Takaful (Islamic insurance), and Takaful broking operators, is a vital industry training and advisory institute in Islamic finance.
Besides training, IBFIM provides inter-related services, which include business and Shariah advisory in Islamic banking, Takaful, Islamic money and capital markets, and Islamic wealth management.