March 12, 2007

 

Malaysia to set up aquaculture franchises in eastern part of the country

 

 

Malaysia is expanding its agro-based projects under its graduate franchise programme to Sarawak in efforts to target 1,000 franchisees under the Ninth Malaysia Plan (9MP).

 

Sarawak, in East Malaysia, is the country's biggest state and is known for its aquaculture activities.

 

Spearheading the nation's drive towards aquaculture projects for the plan is the Entrepreneur and Cooperative Development Ministry, through Perbadanan Nasional Berhad (PNB),

 

PNB managing director Rusdi Ibrahim said it was working with Sarawak authorities on agricultural and aquaculture-based ventures.

 

SEDC has proposed several new projects which PNB would keen in developing into franchisees, he told reporters after the launching of a franchise exposure and entrepreneurship seminar.

 

RM20 million had been allocated under the 9MP for entrepreneurship and cooperative development, including loans under franchise programmes for 50 new business ventures, he said.

 

A typical outlet would cost about RM 400,000 (US$5.7 million) to operate.

 

He was also confident that PNB would reach its target of producing 1,000 graduate franchisees and 50 franchises in the next five years nationwide.

 

At present, he said, PNB was looking at the possibility of expanding an aquaculture pilot project, involving 20 graduate franchisees, to other states.

 

The RM5.8 million project (US$1.66 million), being undertaken by a subsidiary of the Fisheries Development Authority of Malaysia using Australian technology, would enable the franchisees to increase their monthly income by rearing White Barramundi, he said.

 

The number of such applications had increased in the last two years, a sign that the franchise industryis generating interest among entrepreneurs.

 

Meanwhile, the state government, through SEDC, was keen to accelerate the industry in the country by producing more quality franchisees in Sarawak, in East Malaysia.