May 1, 2008

Cell Aquaculture making inroads in joint ventures with Malaysian government

Cell Aquaculture, the Australian-based company, has made a strong shift to focus on joint venture opportunities in Malaysia and the move is paying off according to the Sydney Morning Herald.

The business recently commissioned and began operations from its first 2,500-square metre joint venture Barramundi facility at Terengganu. Revenue for January to March was US$282,000, with total year to date revenue of US$1,086,000.

Commercial fingerling shipments were dispatched from CAQ's James Cook University based hatchery to the Terengganu facility and site selections are now completed for a major expansion programme to 1,100+ tonnes per annum production.

Cell has also signed a Memorandum of Understanding (MOU) and completed a comprehensive feasibility study for a Sarawak state government joint venture.

Target production here will be in excess of 700 tonnes per annum. Progression of premium multi-species hatchery development in conjunction with the Malaysian Federal Marine Research Centre is also planned.

Marketing relationships and brand development are currently underway with large South East Asian multi-national buyers, according to the report.

A recent restructuring of the company's board also represented the company's efforts to focus on expansion in Malaysia.