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Goldis to invest RM10m in new fish farm

MALAYSIA - Private equity investment company Goldis Bhd is to invest about RM10 million in a second fish farm to help meet the growing demand for white meat, chief executive officer Tan Lei Cheng said today.

It has identified a potential site near Kuala Lumpur and is awaiting the water quality test results to determine whether it is suitable for the project, she told reporters after the company’s annual general meeting.

Goldis has a fish farm in Kuching, Sarawak, that supplies to about 30 outlets in Malaysia and Singapore, including hotels, hypermarket Carrefour and supermarket chain Cold Storage.

Meanwhile, the company has begun construction of the Goldis Tower in the city centre. It will have a gross development value of between RM500 million and RM600 million upon completion in the first half of 2009.

The project, which comprises two 30-storey towers, will have luxury penthouses, duplex CEO corporate suites, single-storey suites, a 180-room high technology hotel, food and beverages areas and other commercial premises.

Located at the crossroads of Jalan Tun Razak and Jalan Ampang, “Goldis Tower will be the new KL landmark with excellent ICT connectivity, serviced by public transportation and excellent access to roads,” she added.

The first quarter ended April 30 saw Goldis’ pre-tax profit plunging to RM6.368 million from RM18.805 million in the same quarter previously, with revenue falling to RM37.776 million from RM55.309 million.

This is in contrast to its full-year performance ended January 31, when its pre-tax profit jumped 136 per cent to RM64.7 million from RM27.4 million and revenue surged 18 per cent to RM215.3 million from RM183.0 million in the previous year.

Source: Business Iimes Online Malaysia