Only listed bamboo firm quits for property market
The world's only listed bamboo company has turned its back on the plant to go into the China's property market, citing a "shrinking pool" of agricultural labour and weakened export prospects.Asian Bamboo - which operates in Fujian province in south east China, but is listed in Frankfurt - said it was to stop investing in its bamboo assets, of which some would be put up for leasing out or "possibly" for sale."If attractive possibilities arise to dispose of parts of the business, that will be considered," Asian Bamboo said.The group, which traces its history back 21 years, said its decision reflected a below-inflationary rise in bamboo prices, and a "shrinking pool of available farm labour in the areas where Asian Bamboo operates" as workers head into China's cities.For what workers remained in the countryside, the company said it faced competition from other agriculture operators such as tea or tobacco producers."The overall environment for running a bamboo plantation business in China has significantly deteriorated, which has caused the company's revenue and profitability to decline sharply," Asian Bamboo said....MORE
I'm not sure what this announcement means for Hong Kong's famous bamboo scaffolding:
