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NCCE and MNC Global signed the agreement to boost the development of agarwood trading in Melaka

Time:2016-07-08  Source:Radio Televisyen Malaysia  Author:

On 25 June 2015, Nanning (China -ASEAN) Commodity Exchange (NCCE) and MNC Global SDN BHD had signed the agreement to boost the development of agarwood online trading in Melaka. 

The Chairman of MNC Global SDNBHD Dato Mohamed Ali made a speech that they will ensure the agarwood quality and build the pricing discovery power. 

Melaka is the main area for plantation of agarwood in the world. Its geographical location is between the Straits of Melaka and Sumatra, which is also one of the origin of agarwood, the main point of the Maritime silk road. 

In history, agarwood trading had been running smoothly through the maritime silk road, till the end of the middle east counties. 

Nowadays, with the cross border trading platform, NCCE and MNC Global will work together to promote the agarwood products for the world markets.

Agarwood used to be extracted and produced in various forms such as spices, essences, chemical products, tooth paste, crafts, foam, prayer beads and chemical additives. In addition, for the traditional medicine purpose, it also can be purified and used to cure cough, stomach and spleen diseases as well as mind-calmed and hemostasis.

Melaka Agarwood International Trading Centre(MAITEC), established by NCCE and MNC Global Sdn Bhd, will put all the efforts to realize its global Agarwood trading standards, to forge its trading index to get the pricing discovery in this industry. According to the report of MAITEC, the trade volume of agarwood will reach 1 trillion RMB in 2020. Hence, China Assurance Finance Ltd 8090) is expected to have tremendous potential and fast growth.