Asiatic Development Berhad (?Asiatic?), a 54.8% owned subsidiary of Genting Group, is one of the fastest growing plantation companies listed on the Main Board of Bursa Malaysia (formerly known as Kuala Lumpur Stock Exchange). Incorporated in Malaysia on 29 September 1977, Asiatic was listed on Bursa Malaysia on 30 August 1982.
Asiatic currently has about 71,000 hectares of plantation land (compared to 41,000 hectares in 2000), comprising mainly oil palms in East Malaysia. Asiatic provides job employment to about 7,300 work force. Asiatic has grown to be a reputable and reliable palm oil producer in Malaysia.
Whilst plantation business remains the core activity, Asiatic has since ventured into property development. The first project by Asiatic's property arm, Asiatic Land Development Sdn Bhd ("Asiatic Land") is the 55-hectare Asiatic Cheng Perdana in Central Melaka. The second project is the 284-hectare Asiatic Permaipura project in Kedah in late 1994. Asiatic Permaipura comprises commercial and entertainment centres, bungalow lots, residential houses and shop-offices. Also included in this project is an 18-hole golf course with a clubhouse, The Permaipura Golf & Country Club.