LKE Group, a family-run durian plantation management firm, has officially launched its equity crowdfunding (ECF) campaign for TembikaiX, marking a significant milestone as the company's first project initiated through ECF. The campaign, now pre-live on pitchIN, aims to raise RM5.3 million by offering 5.5 million units of redeemable convertible preference shares (RCPS). Prospective investors are offered a 70% profit-sharing scheme with a forecasted annual average return on investment (ROI) of 47% for pre-live investments and 42% for investments made after the campaign goes live.
Bronson Wee, Director of Sales & Marketing of LKE Group, said, "We're proud to open up larger investment opportunities to the public through pitchIN. Our goal is to expand our management of durian plantations, in Manchis, Pahang using the Smart Farming technologies currently operational in our own phases, contributing to the advancement of the agriculture sector in Malaysia."
Currently, LKE Group manages over 200 acres of plantations, hosting a diverse range of durian varieties. The innovative DurianX phase has successfully integrated Smart Farming technologies and leveraged data analysis and monitoring to optimise the durian trees' growth conditions. This digitalization aligns LKE Group with the Internet of Things (IoT) and government initiatives, storing valuable data in the Cloud to enhance research and development in durian plantations.
Source: malaysiakini.com