NEW YORK, Feb. 6, 2018 /PRNewswire/ -- Ultimus Asia announces investment into Bai Yu Feng Sandal Wood, a project covering an area of 3,500 hectares in Phnom Penh, Cambodia.
Ultimus Asia is a multi-fund, industry and geographic platform with a fund size of $1 billion. Its funds are advised by teams of professionals who live and work in markets where they invest - across 6 countries and forming one of the largest emerging markets presences in the industry.
The fund aims to harness the last round of wealth in Asia by investing in long term growth capital with a primary focus on the needs of the middle class in Asia. It has targeted 4 industries to invest in, namely agriculture, property, international trade and travel.
Recently, Ultimus Asia announced its investment into Bai Yu Feng Sandal Wood, an agricultural project based in Phnom Penh, Cambodia.
Bai Yu Feng Sandal Wood is a grower, processor and producer of Indian sandalwood products, one of the world's most valuable tropical hardwoods that is nearing extinction in the wild. The project is located in Phnom Penh, Cambodia and covers an area of 3,500 hectares. The plan is to grow 3 million sandalwood trees and build a world class sandalwood eco-garden complete with tourism, leisure and health facilities.
"This is an interesting project. Apart from the valuable sandalwood oil, what attracts us is the concept behind this project. This is not entirely an agricultural project. With the completion of the sandalwood eco-garden in five years' time, we will be looking at a world-class tourism attraction complete with world-class accommodations and leisure facilities in a scenic setting," Mr. Dan Logan, Chairman of Ultimus Asia said while addressing the press.
"We are also honoured that Bai Yu Feng is supported by both the Cambodia Agriculture Ministry and China Academy of Science (Southern China Botanical Garden)," Mr. Logan added.
This highly acclaimed sandalwood project is expected to patch the supply gap in the current essential oils market and ride on the fast growing consumer expenditures in perfumes and essences. It is expected the produce from this project to be immediately acquired by downstream entities such as major perfume and cosmetic brands.
Lastly, the group expressed their desire to expand their portfolios and confirmed that talks are ongoing for more investment projects to come onboard.
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