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Cell venture on track for success

MALAYSIA - Leading aquaculture technology and seafood production specialist Cell Aquaculture Ltd has reported strong progress its Joint Venture with the Terengganu State Government, Malaysia.

A second shipment of Cell™ equipment worth, A1,000,000, has been dispatched to Malaysia.

The Malaysian venture has been further strengthened by the recent appointment of Capt. Suresh Abishegam as a non-executive Director of Cell Aquaculture Ltd. Capt. Abishegam is a Malaysian based businessman who has been closely associated with Cell for the past two years. He is also a Director of the Malaysian subsidiary company, Cell-Aqua Malaysia Sdn Bhd and will play an instrumental role in driving the future expansion of this exciting, large-scale venture.

Construction of the initial 2,500 sq.m production building in Terengganu is now complete and ready for installation of the first Cell™ production systems.

Commenting on recent progress, Capt. Abishegam said it was encouraging to see the strong relationship developing between Cell Aquaculture Ltd. and the Terengganu State Government. "Both parties have been working extremely hard to meet their commitments for the first stage of this venture, ” he added.

The Terengganu State Government has delivered the first production building on budget and ahead of schedule. Cell on its part have manufactured and delivered all production equipment as scheduled, ready for installation.

Chairman of the Malaysian based Joint Venture company, TRG Cell Sdn Bhd, Dato’ Hj. Zakaria Awang said he was very confident with Cell and their ability to work with the state government. The partnership would help to expand the project to a scale that will put Teregganu on the world map as a major aquaculture and fish producer.

Planning is now underway to jointly develop a world class ‘multi-species’ hatchery that will assist in commercialisation of extensive R & D conducted by both parties. It is expected that the establishment of this hatchery will make TRG Cell Sdn Bhd and Terengganu State an international ‘hub’ for Cell’s future international operations.