The East West One Group (EWOG) and its planters are urging Pacific Trustees Bhd (PTB) to release funds critical to EWOG’s approved rehabilitation and restructuring (R&R) exercise. EWOG’s representatives, including Thirunavukarasu Illamurugan, Yong Chin Koi, and Mahadevan Kathirgamathamby, warn that PTB’s ongoing fund withholding risks further damaging EWOG’s financial health, potentially leading to permanent losses.
Despite strong support from planters for the R&R plan, work remains stalled, as EWOG has relied solely on natural soil fertility over the past year, with no structured fertilization or agronomic practices in place. The R&R program aims to restore plantation productivity through enhanced agronomic inputs, with crude palm oil (CPO) prices now above RM4,000 per ton, offering a unique recovery opportunity.
EWOG states that multiple issues—including the COVID-19 pandemic, labour shortages, land disputes, and repeated meeting injunctions—have significantly strained operations, impacting cash flow and the company’s ability to meet obligations. EWOG argues that swift fund release is essential to capitalize on favorable CPO market conditions and begin rehabilitation efforts, generating returns for investors.
However, PTB’s reluctance to finalize trust deeds continues to impede fund release. EWOG representatives emphasize the urgent need for a resolution, urging PTB to end the impasse and enable EWOG’s rehabilitation efforts for all stakeholders’ benefit.
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