In its mission to catalyze the expansion and advancement of the agriculture sector, LKE Group, a family-run agricultural venture, kicked off its 7th LKE Durian Fiesta today, officiated by Datuk Bahria Mohd Tamil, Deputy Secretary-General (Management & Investment), from the Ministry of Investment, Trade and Industry (MITI).
Visitors can expect an inviting atmosphere with the fiesta offering a unique 3-day ‘1-Hour Free Flow’ durian experience from 10.00 a.m. to 7.00 p.m. daily until 14 January. More than 8,000 kilograms of various durians are expected to be served to over 4,000 visitors in three days.
The fiesta was held not only to showcase the variety of locally-produced durians from different parts of Malaysia but also acted as a platform for the group to announce its upcoming equity crowdfunding (ECF) campaign on pitchIN, a monumental stepping stone (milestone) in LKE’s mission of providing businesses, start-ups, and small and medium-sized enterprises (SMEs), the opportunity to further the growth and innovation within Malaysia’s agriculture sector.
Bronson Wee, Director of Sales & Marketing of LKE Group, expressed, “Hosting bi-annual durian fiestas is a tradition for us. As a durian plantation management company on the path to becoming a publicly listed entity, we believe in the King of Fruits’ potential to unite people globally, boost our country’s economy, and foster a sustainable environment for future generations.”
Founder & Director, Dato’ Jackky Lim as well as Co-founder & Managing Director, Jeremy Chin of LKE Group who have continuously committed their focus on community development in Manchis, Pahang, are now incorporating Smart Farming technologies into its durian plantation phases.
Mr. Bronson announced, “We’re proud to open up larger investment opportunities to the public through pitchIN. Our goal is to expand our management of durian plantations using the Smart Farming technologies currently operational in our own phases, contributing to the advancement of the agriculture sector in Malaysia.”
At present, LKE Group oversees more than 200 acres of plantations, hosting a diverse range of durian varieties tailored to project specifications. The innovative DurianX phase has successfully integrated Smart Farming technologies and leveraged data analysis and monitoring to optimize the durian trees’ growth conditions. This digitalization aligns LKE Group with the Internet of Things (IoT) and government initiatives, storing valuable data in the Cloud to enhance research and development in durian plantations.
“MITI is looking forward to see the investments raised for TembikaiX will contribute towards a continuous implementation of LKE’s forward-thinking approach in the current operations of its phases, integrating innovative Smart Farming and IoT technology,” Bahria remarked in her speech.
“The significance of the 7th LKE Durian Fiesta and the upcoming pitchIN ECF campaign cannot be understated,” she continued, expressing the timely announcement of the upcoming ECF campaign based on “the tremendous growth potential in the global durian market, projected to reach significant heights of 49.91 billion USD by 2033.”
Wee, expressing the significance of this digital leap, stated, “Through the Big Data driven by Smart Farming technology, our plantation expertise becomes a legacy, safeguarding skills for future generations. This is part of our Legacy Program and investment program.”
Excitingly, LKE Group’s latest durian phase, TembikaiX comprises 5.9 acres and accommodates 320 durian trees, comprising 70% Black Thorn and 30% Musang King varieties. LKE Group aims to raise RM5.3 million and will be issuing up to 5.5 million units of Redeemable Convertible Preference Shares (RCPS), offering a minimum ticket size of RM5,000. Wee highlighted the company’s further diversification efforts, aiming to manage plantations beyond its current ownership spectrum. This strategic move is a precursor to the company’s preparation for an eventual Initial Public Offering (IPO) exercise in the near term.
The 7th LKE Durian Fiesta invites visitors from all walks of life for a durian experience in the smart and sustainable township of its venue sponsor, Gamuda Cove. The festival’s generous sponsors are TT Construction for spearheading the development and completion of all major infrastructure projects in LKE Manchis. Millennium Welt, for its significant support in bringing three of their luxury premium vehicle brands—BMW, BMW Motorrad, and BYD—to the event, and Beam, for its 25 e-scooters to be used for the convenience of the festival attendees. Meanwhile, DKing, LKE’s steadfast durian partner, Tryveler glamping services provider, Sanus Wellness, and HL Dragon Fruit are among other sponsors who have always collaborated with LKE Group on health-conscious living. Throughout the three-day festival, the public can enjoy special deals from these sponsors while exploring local delicacies, and more.