Malaysian conglomerate Teck Guan Holdings (TGH) will become the latest entity to securitize oil palm plantation assets. TGH has secured approval from the Securities Commission for a M$283 million ($77.7 million) Islamic ABS, which will be structured by boutique firm Avenue Securities.

When completed, it will be the first oil palm plantation ABS in 2006. The asset class emerged last year in Malaysia when several companies, including Multi Vest Resources and Boustead Holdings, completed deals (ASR, 09/19/05).

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