January 4, 2013

QL Resources to expand fish meat production in Indonesia

In 2013, QL Resources, leading marine and poultry egg producer, is eyeing Indonesia to expand its surimi or fish meat products as well as to produce millions of chicken eggs.

According to OSK Research, QL Resources was forging ahead with its expansion into highly populated Asean countries like Indonesia and Vietnam.

"We expect earnings from the group's marine, integrated poultry and palm oil operations in Indonesia to kick in strongly by fiscal year 2014, taking QL Resources' numbers to new heights," the research house said.

In view of the of the bountiful supply of fish in Indonesia and the promising outlook for the global surimi industry, OSK Research said QL Resources had ventured into Surabaya, Indonesia with a 10,000-tonne capacity surimi plant, up from 5,000 tonnes previously, after it beefed up capacity in August 2012.

"The group is also building a new frozen surimi factory with annual capacity of 15,000 tonnes in Hutan Melintang, as well as a new cold room for surimi-based products in Johor Bahru (5,000 tonnes), and a frozen fish cold room in Endau (2,000 tonnes)," it said.

To diversify its business further, QL Resources had moved into egg production in 1994 and it produces 2.7 million eggs per day (epd). The group is targeting to ramp up egg production at its integrated livestock farm in Cianjur, near Jakarta, Indonesia to 900,000 epd by March 2013 from 450,000 epd currently.

The research house also noted QL Resources planned to increase the number of day old chicks (doc) from 1.3 million to 2.5 million docs per month by March 2013.

Additionally, QL Resources is also venturing in Vietnam, where it has started building a layer farm to produce 500,000 epd. The research house gathered that backed by a solid business model, QL Resources exposure to three sustainable basic food industries in the marine, poultry and oil palm had enabled it to deliver remarkable results in the last 25 years.