THE DATU PAGLAS PLANTATIONPRINT THIS ARTICLE
The land where the banana plantation is located, is owned and/or controlled by the family of the former Mayos Datu Ibrahim "Toto" Pendatun Paglas III, who is the President and CEO of the Paglas Corporation. The investment affiliate of Oribanex, the La Frutera Inc., is the developer and manager of the Paglas plantation, and Oribanex handles the marketing. Total project cost is approximately $25.0 Million, and the value of banana exports is through LFI. By virtue of the 20-year Farm Management Agreement between Datu Ibrahim Paglas and La Fruterera Inc., the former is the Owner of the plantation while the latter is the Developer, Financier and Manager. The Paglas Family provides support to the plantation project (as well as other projects that are now currently being put up in the town), through the Paglas Corporation. The Family is also into the business of employment agency, trucking, security and detective agency, gas station (Petron), a banana chips project and a rural bank.