QL Resources Bhd of Malaysia, involved in marine processing manufacturing and integrated livestock farming, is planning to establish its first overseas surimi or fish paste processing plant in Surabaya, Indonesia.
The 25 million-ringgit (MYR) plant will process 5,000 metric tonnes of fish paste per year for export, under its first phase of production, reports Bernama.
OSK Research said QL Resources is currently fulfilling the required procedures for the land to proceed with the construction of the new plant, which would be funded by internally generated funds.
"With a population of about 206 million, Indonesia is seven times the size of Malaysia, which speaks volumes of the potential demand for surimi," the research firm said.
Indonesia's rich fish resources would ensure adequate supply during the low fishing season in Malaysia, OSK said, adding that the plant would be able to support QL Resources' earnings during the monsoon season.
It also said QL Resources would be able to capitalise on the facilities available at Surabaya port, the main trading port in East Indonesia, to export its end products to Japan.
The division expects to contribute continued earnings to overall group profits.
QL Resources Opens Surimi Plant In Indonesia
INDONESIA - QL Resources Bhd of Malaysia is to set up a fish paste processing plant in Surabaya, Indonesia.
