Deal #10394

In terms of the social benefits to the community, it is estimated that this CSR initiative will benefit more than 2,600 farmers and the local economic development and creating 106 direct employments to the local community through a pineapple plantation. PPKKK will manage the farming together with the local farmers through a joint venture programme with a shared capital commitment of 70:30 whereby the local farmers will share 70% of profits and risks and PPKKK will share the remaining 30% of profits and risks. The pineapple farming is expected to generate gross revenue of approximately RM684,000 per cycle (one cycle of harvesting is 14 months). Therefore, the total gross revenue from the pineapple farming that would be generated throughout the 18 years tenure of the ASEAN Sustainability SRI Sukuk is expected circa of RM10.55 million. This has not considered the estimated gross revenue that could be generated from the sale of other crops