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Dutch Acquisition Shelved as Malaysian Business Kicks-off

MALAYSIA - Barramundi production is now underway at Cell Aquaculture Limiteds joint venture business in Malaysia. Business is booming in South East Asia and more favourable prospects here have encouraged the company to pull out of a proposed acquisition for total ownership of a Dutch facility.

The first batch of James Cook University Barramundi fingerlings (baby fish) has been air-freighted to the Company’s new facility in Malaysia. It is the first stage of an aquaculture development that will eventually top 1,200 tonnes annual capacity.

The first production building is now in operation at Cell Aquaculture's Malaysian JV business.

Installation of the first 2,500 sq.m production site will be officially opened by the chief minister of Terengganu State next month.

“One of the major challenges in developing overseas barramundi production facilities is to successfully ship fingerlings overcoming the logistical and regulatory hurdles. Cell has efficiently shipped fingerlings to Asia as well as previously to the US and Europe with optimum survival rates,” said Mr Paul Hopper, Cell Executive Chairman .

An agreement has now been reached with the Terengganu Agrotech Development Corporation to develop a fully integrated multi-species hatchery financed and jointly owned with the State of Terengganu.

The first stages of the development are in place ands proposals include:

  • A world class multi-species hatchery/s
  • Further aquaculture production across a range of premium species
  • Fish processing and value-adding to seafood products
  • Comprehensive recruitment and training programs
  • Development of hydro/aquaponic opportunities to value-add to fish waste
  • Manufacturing capability for key Cell™ components
  • World first ‘Halal’ certified aquaculture production with complete traceability
  • Aquaculture feed development