Prime Global Capital Group Incorporated, through its subsidiaries, is engaged in the operation of a palm oil plantation, trading of castor oil seeding, provision of IT consulting and programming services, and acquisition and development of commercial and residential real estate properties in Malaysia. Segments During the year 2013, the company operated in the following four business segments: the provision of IT consulting, programming and Website development services; Oilseeds business; Real estate business; and Distribution of consumer products. The company’s m-commerce and consumer distribution products businesses are operated through Union Hub Technology Sdn. Bhd. (UHT). Its oilseeds business is operated through Virtual Setup Sdn. Bhd. (VSSB), and Shenzhen Max Trend Green Energy Co. Ltd. (Max Trend WFOE). VSSB operates out palm oil plantation, and Max Trend WFOE sells castor seeding and provides technical know-how under a bundled sales arrangement. The company’s real estate business is operated through PGCG Assets Holdings Sdn. Bhd. (PGCG Assets). Oilseeds Business VSSB manages and operates palm oil plantation in Malaysia. The company’s plantation cultivates and distributes fresh fruit bunches (FFBs) to third party oilseed processors located in Malaysia that extract, refine and resell palm oil. The byproducts of the refinery process are sold to other manufacturers further downstream to produce various derivative products. Real Estate Business The company’s real estate business operations consist of the acquisition, development, management, operation and sale of commercial and residential real estate properties located in Malaysia, primarily in Kuala Lumpur and Selangor. Developed property sales can include condominium units, individual villas and bungalows at its Shah Alam 2 Eco Residential Development project located in Selangor, Malaysia. Commercial Real Estate Holdings: The company generates rental income from its 12 story and 15 story commercial properties. As of October 31, 2013, 10 of the 12 stories of its 12 story building have been leased to tenants. Development Activities: The company holds a 99-year leasehold interest to 21.8921 hectares (54.10 acres) of vacant development land, or the Land, and 2 parcels of vacant land aggregating approximately 31 acres, or the Dunford Parcels, all located in Selangor, Malaysia. Software and Consumer Product Distribution Businesses The company’s software business during 2013 consisted of providing after-sales maintenance and support and or Website development services arising from previously purchased software products. The company’s consumer product distribution business consists of trading luxury consumer products. Distribution The company’s consumer goods are sold to customers generated from the personal relationships of its executive officers which may be located outside of Malaysia. Customers of its oilseeds business principally consist of oilseed processors, refineries and oilseed product manufacturers. The company’s products are distributed in bulk from its plantations directly to its customers’ facilities. Initially, the company intends to transport its products through third party transportation systems. Suppliers The company’s suppliers include Fortesys Intergration Sdn Bhd.; Sun Shine Fertiliser Enterprise; and Lim Joo Soon Enterprise. Customers The company’s customers include Yuen How Wai; Pang Her Chai; and Tang Hock Miew. Regulations Oilseeds: The company’s oilseeds business is subject to additional laws addressing land, environmental, labor, wildlife and crop cultivation matters. It is subject to the Land Acquisition Act of 1960, which specifies the conditions under which the Malaysian government may acquire by eminent domain private land (including palm oil plantation) to pursue its social policies. The company is also subject to various environmental laws including the Environmental Quality (Prescribed Activities) (Environmental Impact Assessment) Order 1987 which governs land clearing, air emissions, waste water discharges and other similar matters; the Workers’ Minimum Standard of Housing & Amenities Act 1990 which requires to provide plantation workers with reasonable housing and amenities, water, electricity and addresses other sanitation related matters, other labor laws governing minimum wages, wage increases and occupational health and safety; the Pesticides Act 1974 (Pesticides Registration) Rules 1988, Pesticides (Licensing for sale and storage) Rules 1988 and Pesticides (Labeling) Regulations 1984 which govern the registration, use, labeling and storage of pesticides; and the Protection of Wildlife Act 1972 which governs the capture and destruction of certain protected wildlife. History Prime Global Capital Group Incorporated was founded in 2008. The company was incorporated in the state of Nevada in 2009.
prime global capital group i
11-2, Jalan 26/70A
Desa Sri Hartamas
Kuala Lumpur, 50480
Phone: 60 3 6201 3198
Fax: 60 3 6201 3226www.pgcg.cc
|No competitor information is available for PGCG.|
|View Industry Companies|
|Price/Cash Flow||NM||Not Meaningful|
Sponsored Financial Commentaries
To contact PRIME GLOBAL CAPITAL GROUP I, please visit www.pgcg.cc. Company data is provided by Capital IQ. Please use this form to report any data issues.