Singapore-based plantation and agriculture investment firm Asia Plantation Capital (APC) said it is planning to expand its Teak and Agarwood plantation operations in Myanmar.
Teak grown in Myanmar, commonly known as Burmese Teak, is amongst the most sought after in the world and regularly commands a premium price.
Barry Rawlinson, CEO of APC, said: “Since the lifting of sanctions against Myanmar and the stance that the government is now taking to encourage and support foreign investment, we believe the time is right to establish sustainable Teak plantations in the country.”
Rawlinson said presently the Forest Stewardship Council (FSC), an international NGO which works for responsible management of the world’s forests, hasn’t certified any Teak plantations in Myanmar and that he hopes APC to be “one of the first companies to achieve certification over the coming decade.”
The tropical wood Teak is used the world over for durability and strength, easily recognisable in homes, offices and hotels, with a range of uses from construction to quality furniture as well as a longstanding relationship with yachts and boat building.
When it comes to boats and yachts Teak lasts for years with virtually no maintenance. A deck wood Teak is highly prized for its natural non-skid properties, while varnished and oiled finishes are often chosen for a wide number of practical and decorative applications around a vessel. Teak is almost impervious to waterborne pests such as the teredo worm.
Teak (Tectona Grandis) is native to Southeast Asia but now grown in tropics worldwide. Thailand and Sri Lanka are two countries where APC already has established Teak plantations with additional land already secured for further planting.
Source: Myanmar Business Today