Link Capital Pte Ltd, announced that it will be setting up a Centre of Excellence in Singapore to process agarwood from the region into oud oil and other raw materials.
Agarwood is the most valuable natural organic commodity in the world, found mostly in China and South East Asia, including Laos, Cambodia, Malaysia, Indonesia and Vietnam.
It also announced that work has begun with one of the largest Agarwood plantations in South East Asia in Lao PDR. A pre-processing plant in Lao PDR has been set up with full 20 year concession, operating and export licenses from the Ministry of Agriculture and Forestry, Lao PDR. Singapore’s Ambassador to Lao PDR, Mr Dominic Goh presided over the opening of the pre-processing plant together with Dr Lien Tikeo, Minister of Agriculture and Forestry, Lao PDR.
The company has received significant support from the Singapore Foreign Affairs Department to liaise with their foreign counterparts to secure local government support in concession negotiations, favourable logistics and tax treatments. Link Capital Group have been working closely with the Singapore government and Association of South East Asian Nations (ASEAN) to build and develop processing and production facilities for Agarwood tree stocks in the region for the global market.
Mr Denny Chong, CEO of Link Capital said, “In terms of Trade and Industry, we have received good engagement and interest with potential off takers from Middle East, North Asia and Europe”.
The company has also said that The Singapore Government is very supportive of its venture to make Singapore the leading R&D, processing and product development center for Agarwood. The government authorities will help to validate and certify final products manufactured in the Singapore factory. The final products will be branded as Singapore produce with stringent quality control procedures and it will be marketed globally.
Link Capital Group is preparing to have the first plantation of 50,000 Agarwood trees from Lao PDR to be tokenised as Security Token Offering (STO), named as Liquid Gold (Ticker code : LiGOLD) very soon.