The board and management of Cirro Capital Limited has unanimously agreed to the investment of USD 2,200,000 towards the procurement of 49% of shareholdings of an Indonesian Plantation.

The plantation covers a total of 998 hectares of land, and is currently operational. The plantation produces a total of 4,720 metric tonnes of Palm Oil and 661 metric tonnes of Palm Kernel Oil per annum.

Cirro Capital shall be entitled to 49% of the net profits per quarter, as long as the plantation remains operational.

The board intends to hold these shareholdings for a period of approximately 5 years, and exit the investment as demand of CPO reaches new heights due to the increasing need of biodiesel for the Belt and Road Initiative.