East West One Group (EWOG) has secured planters’ approval to extend the rehabilitation and restructuring (R&R) exercises across its three plantation schemes by another year to Aug 11, 2027.
The extension was approved during Planters’ Meetings held on Aug 17, with strong support across all three schemes.
The East West Horizon Planter’s Scheme recorded 91.7% approval, while the East West One Planter’s Scheme and East West Planter’s Scheme 1 received 87.9% and 83.6% approval respectively.
EWOG said all resolutions put to a vote across the three meetings were carried, giving the respective management companies a mandate to continue implementing the rehabilitation programmes under the framework approved by planters in August 2024.
The framework includes the rehabilitation of the plantations, suspension of the Monthly Net Return and repurchase arrangements, as well as the use of funds held in trust accounts for rehabilitation purposes.
The rehabilitation programmes had fallen behind schedule, primarily due to difficulties in securing the release of funds held in the trust accounts.
EWOG said the delay and late or non-release of funds required for rehabilitation prevented the programmes from proceeding according to the original timetable, prompting management to seek court intervention to secure the timely release of the funds.
Following the conclusion of the legal process, EWOG said it had prevailed and was now in a position to move forward with the rehabilitation programmes following the latest endorsement from planters.
The additional one-year period is intended to allow the rehabilitation programmes to be substantially completed and their effectiveness properly assessed.
Amendments to the relevant Trust Deed were also approved to give effect to the resolutions passed.
EWOG said the measures would provide planters with a more direct role in overseeing the rehabilitation process and determining the next stage of recovery for the schemes.
The meetings also took note of the transition in trusteeship for the respective schemes.
Pacific Trustees Bhd had voluntarily resigned as trustee prior to the Planters’ Meetings. Following applications by the management companies to the Companies Commission of Malaysia, the appointment of Etika Amanah Bhd, formerly known as Etiqa Amanah Bhd, as the incoming trustee was approved on July 10, 2026.
The handover of trusteeship is currently proceeding in accordance with the agreed arrangements.
EWOG said its immediate priorities during the extended R&R period would be to accelerate the rehabilitation programmes, maintain communication with planters and provide the information needed for them to determine the future direction of each plantation.
