The Sun (Malaysia)

Malaysia’s Agro Capital to list on New York over-the-counter market


PETALING JAYA: Home-grown aquacultur­e company Agro Capital Management Bhd will be listed on the over-the-counter exchange in New York, following its successful reverse takeover of a US entity listed on that bourse.

Agro Capital operates a broad range of aquacultur­e farms in Malaysia. It is able to harvest from its own farms and export its products in the form of processed table food. It also has the capability to directly serve the ever-increasing demand of local exporters.

In a statement released yesterday, its executive chairman Datuk Mohd Nasir Baba said sustainabl­e aquacultur­e is the future of seafood.

“Part of the reason for aquacultur­e’s growth is the increase in global demand for seafood coupled with a flat or declining supply from wild harvesting.

“We have recognised a market gap and need to meet increasing market demands for seafood, and hence, will continue to develop sustainabl­e methods of cultivatio­n in a cost-effective manner,” he added.

Nasir said the company was recently granted 100 acres in Sungai Miang, Pekan, by the Pahang state government, bringing the company’s total land developmen­t size within the area to 150 acres.

He explained that the 100 acres was granted with concession­ary rights for the developmen­t of aquacultur­e projects in Pahang. It forms part of a 268-acre project that is planned for the assigned area.

“This project grant is expected to create and increase the current job market in Pahang, as well as in neighbouri­ng states and provinces over the next few years,” he added.

Nasir said he is confident that the reverse takeover will not only boost the company’s profile as a premier aquacultur­e company in Malaysia, but also in Asia.

“We are pursuing global recognitio­n as a leading company in the trading, export and production of commercial aquacultur­e of marine shrimp and food fish,” he added.

Newspapers in English

Newspapers from Malaysia