8th October 2021 – Dadvance Agarwood Solutions Sdn. Bhd. had inked a purchase agreement with Mr.Wan (landowner) to purchase the existing standing Aquilaria trees aged 10 years old and above with a total of 2,930 located in Jelebu, Negeri Sembilan.
Purchase Agreement inked for 2,930 Agarwood trees in Jelebu
This purchase agreement will strategically position Dadvance Agarwood Solutions Sdn. Bhd. presence in the Southern region and this will also increase the number of their agarwood trees portfolio to more than 15,000 agarwood trees.
The deal will also strengthen the company’s income and will bring in another RM 10 million of revenue to the company’s financial record by the third quarter of 2024. They will begin the inoculation exercise by November 2021.
According to Mr.David after the harvesting, both parties have also agreed to enter into a long-term collaboration by planting new agarwood trees on the said land. This collaboration aligned with one of the Company’s 4Rs sustainable development goals which are “Restore”.
Both parties are looking forward to establishing a win-win long-term working relationship to provide a continuous supply of cultivated agarwood and to meet the scarceness of agarwood on the international level.