34 cover story @ Forest | September-October , 2020
SIGNING IN ... FGP venturing into its first forestation plantation project ( from left to right ) Hamid Rashid Founder of Finterra Technologies Sdn Bhd , Satesh Khemlani Managing Director of Finterra Technologies Sdn Bhd , EL Law CEO of United Paulownia Plantation Sdn Bhd .
Vision 2020
Finterra Global Plantations to start on its first-ever venture into a forestation plantation project
BY CAMILIA REZALI
A
leading company with blockchain-based Islamic application , Finterra Ventures , through its subsidiary Finterrra Global Plantations ( FGP ), officially marked its collaboration with United Paulownia Plantation Sdn Bhd ( UPP ) recently .
FGP Ventures signed an agreement with UPP on Sep 30 to start on its firstever venture into a forestation plantation project .
The new joint venture was in line with Finterra ’ s 2020 objective .
“ For 2020 , Finterra is looking at two out of the 17 Sustainable Development Goals ( SDGs ). One is on green afforestation , and the other one is on food security ,” said the Head of Investor Relations of Finterra Global Plantations and Founder of Finterra Technologies Sdn Bhd , Hamid Rashid .
“ So , this is where we see the potential of Paulownia plantation with Finterra . The joint venture is in line with our vision for 2020 .”
Good offer for investors
With regards to the agreement , Finterra decided to start with 500 acres and proceed to 2,500 acres annually for the next four years .
Hamid explained : “ We are showing potential investors that planting trees can make money .
“ This is where we structured an
Islamic instrument , an Islamic Renewable Profishare ( IRPS ) under Finterra Global Plantation . This is what we are offering for investors to come in .”
The IRPS offered by Finterra is fully Shariah-compliant support . It allows investors to allocate their funds for the Paulownia plantation , and upon harvesting , the investors will receive the return on investments .
According to the Managing Director of Finterra Global Plantations , Satesh Khemlani : “ How we fit in is that we are solid as we operate on global Islamic finance . We are in contact with a lot of associates from around the world . And we also have a presence in five countries .”
Strategic partnerships
The company is continuously on the lookout for projects which are low risk and high yield , which has an impact on a social cause and bringing good to the environment . And , the Paulownia plantation fitted into its purpose .
“ We are looking for strategic partnerships where we can either add value to our partner ’ s business , or they could add value for us . After we met EL Law ( the CEO of UPP ), we understood their business model and realised there was a need into which we could fit ,” shared Satesh .
“ This is where we sat down with Law and understood how we could craft out a win-win project . A win for United Paulownia Plantation Sdn Bhd , win for the investor , and win for FGP .”
FGP Ventures is sure the new venture will benefit all stakeholders .
In line with the company ’ s policy , it only invests into businesses which are highly-scalable and perhaps being able to take it globally where the industry plays on a global turf . And the Paulownia plantation is a sure blooming business , states Khemlani who is also the Managing Director of Finterra Global Plantations ( FGP ). — @ Forest
“ For 2020 , Finterra is looking at two out of the 17 SDGs . One is on green afforestation , and the other one is on food security , So , this is where we see the potential of Paulownia plantation with Finterra . The joint venture is in line with our vision for 2020 .”
— Hamid Rashid