The Australian-based company has made a strong shift to focus on joint venture opportunities in Malaysia and the move is proving fruitful, says a report for the Sydney Morning Herald.
|Cell's hi-tech joint-venture Barrmundi Operation at Terengganua.
Revenue for January to March was $282,000, with total year to date revenue of $1,086,000. The business also Successfully commissioned and began from the first 2,500m2 Barramundi facility at Terengganu.
Commercial fingerling shipments were dispatched from CAQ's James Cook University based hatchery to the Terengganu facility and site selections now completed for major expansion program to 1,100+ tonnes per annum production with the Terengganu state government.
Cell has also signed a Memorandum of Understanding (MOU) and completed a comprehensive feasibility study to progress 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 currently underway with large South East Asian multi-national buyers.
These activities, combined with a cut back of Australian company overheads is bolstering the business. A recent restructure of the company's board also represents concentrated efforts and a focus on expansion in Malaysia.