ABOUT MATANG

MATANG BERHAD (“Matang” or “Company”) is a company incorporated in Malaysia on 28 April 2015 with its shares quoted and listed on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) on 17 January 2017.
The principal activity of Matang is investment holding and it wholly owns Matang Holdings Berhad (“MHB”), which in turn owns Matang Agriculture and Plantation (Segamat) Sdn Bhd (“MAPS”). Matang also owns a subsidiary company, Matang Agriculture and Plantation (Yong Peng) Sdn Bhd (“MAPYP”) (formerly known as Greencode Farm Sdn Bhd (“GFSB”)), the entire shares in which were acquired by Matang in July 2023. The subsidiaries of Matang are principally involved in the business of management of plantation estate, sale of fresh fruit bunches (“FFB”) from its oil palm estates and property investment holding.

A plantation company listed on the ACE Market of Bursa Malaysia Securities Berhad

MATANG BERHAD

Registration No: 201501017043 (1142377-X)

An investment holding company with (a) shares quoted and listed on the ACE Market of Bursa Securities and (b) subsidiaries primarily engaged in management of plantation estates, sale of FFB and property investment holding

100%

Matang Holdings Berhad

Registration No: 197801001551 (38557-X)

Owns leasehold industrial land of 1.295 ha with three detached buildings in Johor Bahru which is rented out to multiple tenants for rental income

100%

Matang Agriculture and Plantation (Segamat) Sdn Bhd

Registration No: 198201010122 (89846-T)

Owns 45 parcels of contiguous freehold agricultural land of total size of 1,094.15 ha in District of Tangkak and Segamat on which it operates and manages oil palm plantation (975.39 ha) and durian plantation (100.94 ha)

Owns a piece vacant freehold land measuring 5,016.86 sq. m. (~0.50 ha) in Tangkak, Johor

100%

Matang Agriculture and Plantation (Yong Peng) Sdn Bhd

formerly known as Greencode Farm Sdn Bhd
Registration No: 200701037527 (795556-W)

Owns freehold agricultural land of 56.226 ha in Batu Pahat District, where it operates and manages 37.64 ha of oil palm plantation and 17.09 ha of durian plantation

MHB

The registered owner of a leasehold industrial land measuring 1.295 hectares (“ha”) located in District of Johor Bahru, Johor upon which are three (3) units of detached buildings and ancillary structures. Presently, the said properties are rented to multiple tenants on short term basis between one (1) to three (3) years to generate rental income to MHB.

MAPS

A wholly-owned subsidiary of MHB, is the registered owner of 45 contiguous pieces of freehold agricultural land measuring in total approximately 1,094.15 ha. located within the District of Tangkak and District of Segamat, Johor, the lands of which are planted with oil palm and durian trees (collectively referred to as “Matang Estate” or “Segamat Estate”). Matang Estate currently houses the main plantation operation of Matang group of companies. Presently, approximately 100.94 ha. of Matang Estate is durian plantation while 975.39 ha. are oil palm plantations and the balance areas are areas of ancillary structures and amenities. MAPS is also the registered owner of a vacant freehold land measuring 5,016.86 square metres (approximately 0.50 hectares) located in Tangkak, Johor.

MAPYP

A new subsidiary added to the family of Matang, was acquired by Matang in late July 2023 pursuant to conditional Share Sale Agreement entered into on 2 May 2023 with the vendors of the shares in GFSB. MAPYP owns a tract of freehold agricultural land of 56.226 ha. in Batu Pahat District, Johor, which is planted with oil palm trees (37.64 ha.) and durian trees (17.09 ha.) (“Yong Peng Estate”).

Matang and its subsidiaries, i.e., MHB, MAPS and MAPYP shall be collectively herein referred to as Matang Group

MATANG GROUP has been primarily focused on its oil palm business, i.e., the ownership and management of oil palm plantations as well as the sale of FFB (“Oil Palm Business”). The Oil Palm Business centres on cultivation and maintenance of oil palm plantation as well as harvesting and sales of FFBs. Despite consistently outperforming production yields of Johor State in the past and persevering as a long-term cash flow generator, the performances of the Oil Palm Business in terms of profitability have been volatile, often tied to the fluctuation of crude palm oil (“CPO”) prices which are affected by a large number of macroeconomic, political as well as climatic factors. Against the backdrop of dwindling CPO prices since 2017 into 2019, the Board of Matang successfully sought shareholders’ approval in November 2019 to diversify the business of Matang Group into durian business that encompasses ownership, operation and management of durian plantations to processing, production and distribution of durian and any related downstream business activities (“Durian Business”).

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