April 10, 2006

Malaysian aquaculture company urges more to enter the industry

Malaysia has the potential to become a major player in the aquaculture industry in Asia Pacific if more companies are willing to enter the sector, said Borneo Aqua Harvest Bhd managing director Datuk Lo Fui Ming.

Currently, companies in east Malaysia are hamstrung by insufficient technology and the knowledge to breed, hatch and rear fishes for the export market.

However, the region does have several factors working in its favour. Apart from government support, another advantage that the region yields is its nutrient-rich water. Waters around Sandakan, Sabah in east Malaysia are especially suitable for breeding fishes as its warm temperature ensure the survival of fishes.

Furthermore, The area is also shielded from threats from the open seas such as typhoons and tsunamis. 

Sabah-based Borneo Aqua is involved in breeding, hatching and rearing of high commercial value marine fishes. It uses marine biotechnologies in various phases of production from broodstock management to spawning, hatching, and larvae and fry rearing.

The firm currently exports 30 fish breeds, including the high-value grouper and snapper, to places such as Hong Kong and China.

The company recently improved its facilities to mass produce high commercial value fish fry and adult fishes as a result of strong demand for quality live fish from Hong Kong and China. 45 percent of the company's products go to these two destinations.

Borneo Aqua is also eyeing South Korea and Japan. The company expects new markets in Japan and South Korea to boost export sales to 75 percent by end-2006.