KUALA LUMPUR: PLS Plantations Bhd plans to develop Malaysia's largest banana plantation.
PLS Plantations today said its wholly-owned Brighthill Synergy Sdn Bhd has entered into a strategic partnership with Agrofresh Management Sdn Bhd on the prospect.
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 rich portfolio of activities encompassing R&D, seedlings, plantation, packaging, trading, and exporting to China, Europe and Middle East.
They have formed a new company named PLS Agrofresh Sdn Bhd, with PLS Plantations holding 60 per cent stake and the balance by Agrofresh.
PLS Agrofresh will develop, operate, maintain and harvest an initial 500-acre banana plantation.
The partnership aims to scale up to 2,500 acres of banana plantations in the subsequent phases over three years.
PLS Plantations group chief Executive officer Lee Hun Kheng said it seeks to become one of the largest banana planters in Malaysia.
"As part of the group's strategic collaboration with Agrofresh, PLS Agrofresh is assembling a team of experienced technical experts specialising in the development and operation of banana plantation with international standard from the Philippines," he added.
It said PLS Agrofresh's initiative will significantly impact both local and international markets.
Domestically, the increased production of bananas will ensure a consistent supply for local consumers and stimulate various sectors of the economy, such as retail, logistics, and food processing.
It can also result in more competitive pricing, leading to increased affordability of this nutritious fruit for Malaysians.
PLS Agrofresh executive director and chief executive officer Datuk Tom Chow Chin Kiat said it will build the first large hyper-advanced and modern banana plantation in Malaysia with foresight in R&D, fertiliser production, tissue culture, product development, and international partnerships.
Chow added that PLS Agrofresh the first harvest from the maiden 500 acres banana plantation is targeted to be by November of 2024.