| "Forget the metaphors about cultivating and harvesting returns. Touchwood Forestry offers investors a chance to watch real trees grow and pay off at maturity" " With local interest rates poised to head downward, and stocks and bonds in the doldrums, individual investors are looking at alternatives, but it's certain that very few have ever considered trees. " " A portfolio made up of wood may seem exotic or even risky, but Touchwood Forestry Co believes it has found a niche. It specialises in agarwood, one of the most expensive woods in the world, which is used to produce essential oils and scented hardwood. " " The local unit of Hong Kong-based Touchwood Ltd is offering investments in its reforestation projects. " " It is a medium-term investment requiring an initial sum to purchase the trees and an annual maintenance fee for five years. In the sixth year, investors have the option to sell the trees back to the company or other buyers. " " Six investment packages available, starting from 64,500 baht for 23 agarwood trees on a 25-square-wah plot, to the largest one of 2.176 million baht for 920 trees on a 2.5-rai plot. " " Touchwood promises to repurchase the trees after six years. As with any commodity, market prices can vary but current contracts are being based on a buyback price of 10,000 baht per tree, which would represent an annual return to investors of 18-22%. " " Investors will receive a harvest certificate indicating the plantation plot and number of trees they hold, as well as expected yield in terms of essential oils and scented agarwood. The certificate is transferable. Investors are also required to sign a land-leasing agreement. " " Investors who opt out before six years can sell their holdings back to the company after two years. They will receive the cost of the tree plus two years of maintenance fees. " " Touchwood will guarantee damages at a minimum of 6,000 baht per tree if it cannot find replacements for the investors, according to Patcharapol Suviyanong, the company's general manager. " " Agarwood is a high-value tree, but only 7% of naturally grown trees produce the precious dark hardwood, and take more than 10 years to generate sufficient resin. Therefore, Touchwood has applied a patented technique, owned by the University of Minnesota in the US, which stimulates
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