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Last $0.01 USD
Change Today 0.00 / 0.00%
Volume 0.0
PGCG On Other Exchanges
Symbol
Exchange
OTC BB
As of 8:10 PM 02/3/16 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

E-5-2, Megan Avenue 1

Block E

Jalan Tun Razak

Kuala Lumpur, 50400

Malaysia

Phone: 60 3 2162 0773

Fax: 60 3 2161 0770

Prime Global Capital Group Incorporated, through its subsidiaries, principally engages in the operation of oil palm and durian plantation, and real estate activities in Malaysia. Segments Plantation Segment The segment engages in the operation of a durian plantation, and leasing and development of the operation of an oil palm plantation. Outsourcing of Management and Operation of Oil Palm Plantation The company cultivates fresh fruit bunches on its 643 acre oil palm plantation; and distributes them to third party oilseed processors located in Malaysia that extract, refine, and resell palm oil. The byproducts of the refinery process are sold to other manufacturers further downstream to produce various derivative products. Durian Orchard The company commenced planting premium durian, of the ‘Musang King’ variety, in 2014. The company has replanted 130 acres of its oil palm with premium durian trees. Real Estate Segment This segment consists of the acquisition, development, management, operation, and sale of commercial and residential real estate properties located in Malaysia, primarily in Kuala Lumpur and Selangor. Commercial Real Estate Holdings The company generates rental income from its 12 story and 15 story commercial properties and anticipates generating income from the sale of developed properties. As of October 31 2015, 5 of the 12 stories of the company's 12 story building have been leased to tenants at market rates. The company’s 15 story building is fully leased to Le Apple Boutique Hotel (KLCC) Sdn. Bhd., which operates a boutique hotel on the premises. Development Activities The company holds a 99-year leasehold interest to 21.8921 hectares (54.10 acres) of vacant development land, or the Land, and 2 parcels of vacant land aggregating approximately 31 acres, or the Dunford Parcels, all located in Selangor, Malaysia. The company intends to develop the Land into the Shah Alam 2 Eco Residential Development project; and to develop the Dunford Parcels into the Bandar Sungai Long High Grade Villas Community project. Shah Alam 2 Eco Residential Development Shah Alam 2 Eco Residential Development project is an existing third party development sprawled approximately 1,163 acres of prime land within Bandar Puncak Alam. It is located in Selangor in the burgeoning Klang Valley area. Distribution Customers of the company’s oilseeds business principally consist of oilseed processors, refineries and oilseed product manufacturers. Its products are distributed in bulk from its plantations directly to its customers’ facilities. Initially, the company intends to transport its products through third party transportation systems. Customers The company’s major customer includes Le Apple Boutique Hotel (KLCC) Sdn. Bhd. Suppliers The company’s suppliers include Supri Yono and Lim Joo Soon Enterprise. Discontinued Operations In 2014, the company discontinued its castor seeds business that was operated through its subsidiary, Shenzhen Max Trend Green Energy Co. Ltd. In 2014, the company discontinued its software business that was operated through its subsidiary, Union Hub Technology Sdn. Bhd. Regulations Oilseeds: The company’s oilseeds business is subject to various additional laws addressing land, environmental, labor, wildlife and crop cultivation matters. The company is subject to the Land Acquisition Act of 1960. The company is also subject to various environmental laws, including the Environmental Quality (Prescribed Activities) (Environmental Impact Assessment) Order 1987; the Workers’ Minimum Standard of Housing & Amenities Act 1990; the Pesticides Act 1974 (Pesticides Registration) Rules 1988; Pesticides (Licensing for sale and storage) Rules 1988 and Pesticides (Labeling) Regulations 1984; and the Protection of Wildlife Act 1972. History Prime Global Capital Group Incorporated was founded in 2008.

 

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