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| Sunday, 29 January 2006 |
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Business |  |
| News Business Features Editorial
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Touchwood ventures in to Liquid Gold Touchwood Investments Ltd, (TIL) commenced operations in Sri Lanka seven years ago with the approval from the Board of Investment. Since then the company has grown year on year and now is part of the Touchwood Group, operating globally in Thailand, UAE and Hong Kong. The Touchwood Group plans to reforest over 12,000 acres annually in the tropical regions globally. As at end 2005 the Touchwood Group employed over 300 people and cared for over 250,000 trees for more than 13,000 customers worldwide. Touchwood has launched yet another innovative forestry investment product Sandal trees, commonly called liquid gold due to its precious value. The price of sandalwood has increased significantly from US $ 4,000/tonnes to US $ 35,000 in the 13-year period to 2003 as per the auction price chart in India. The estimated annual global demand of sandalwood is between 6,000-7,000 tonnes and currently is in under supply. The Sandal tree grows successfully in Sri Lanka. Having identified the export potential for sandalwood, TIL has initiated growing this tree in the suitable regions in Sri Lanka and invite prospective customers to join hands to benefit from this gold edge project. |
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