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New Agricultural Projects Expected To Contribute To Group Revenues
KUALA LUMPUR, MALAYSIA – Media OutReach – 12 January
2021 – The Joinland Group, a diversified Malaysian conglomerate of varied business
interests, is looking forward to the future with optimism, due to two new
agricultural projects that are coming onstream in Sarawak over the course of
the year.
Dato’ Sri Thomas Hah Tiing
Siu, the founder of Joinland, said, “We have decided to invest in the agricultural
aspect of our business, both to diversify income for the overall group and
because it’s clear as that there is both
high and growing demand particularly for fresh pineapple/coconut and
pineapple/coconut-based products from neighbouring countries, the Middle East
and China. As such we began pineapple and coconut planting in the Sungai Rait
and Kuala Baram areas of Sarawak earlier this year. We believe that this will
create an important revenue stream for the business moving forward.”
According to Malaysia’s Ministry of Agriculture
(MOA) Malaysia exported RM419 million in pineapple products in 2019 — a 60% increase
over 2018* — and the Ministry also predicted annual growth for the industry
exceeding 5%.** Likewise, while coconut is currently Malaysia’s fourth largest
industrial crop, behind oil palm, rubber and rice, the demand for coconut
products has also been growing rapidly driven by higher awareness of the health
benefits of the fruit.***
As
part of its agricultural focus, Joinland has invested in R&D, technology
and automation to ensure the best productivity, fruit quality, storage and
delivery in the industry. Joinland will
be planting the ‘Matag’ variety coconut and the ‘MD2, N36 and Josapine’
pineapple variants.
The
company is focusing on downstream processing to ensure value creation for its
agricultural products and to ensure compliance with food and safety standards
(HACCP, Halal, GMP, MesTi, etc.), which will in turn ensure the marketability
and premium pricing of these products through the company’s international
partnerships and sales channels.
The Joinland Group, which is
headquartered in Miri, Sarawak, is involved in many different businesses
including a major agro-forestry project on the island of New Hanover in Papua
New Guinea, Swiftlet Farming in Sarawak, real-estate management (including
developments in Malaysia, Singapore and China) and substantial investments in
seven other businesses in Malaysia, Singapore, China and New Zealand.
Just as it has done for businesses worldwide, the
COVID-19 pandemic did impact Joinland’s revenues and operations in 2020. The
biggest impact was on the company’s Swiftlet Farming operations, with both a
reduction in the price of edible bird nests (due to reduction of tourism and
interstate transportation complications), as well as operational issues (travel
restrictions) which limited oversight of the production houses.
Commenting on this Dato’ Sri Thomas Hah Tiing Siu, commented, “We expect that things will gradually improve
in 2021, although this may take a while. Many of the very severe restrictions
that were imposed with the first Movement Control Order (MCO) in Malaysia have
gradually eased, which has helped, but we will continue to face challenges in
2021, particularly in the Swiftlet Farming element of our business due to the
low-price of edible bird nests, labour supply issues and increased operational
costs due to higher transportation charges. This is why we are delighted to
have got our new agricultural projects underway.”
In concluding, Dato Sri
Thomas, said, “Despite the unpredictable nature of life at the moment, I am
confident that Joinland Group is well positioned to ride out any further
turbulence thanks to the wide ranging and diverse nature of our business. We
are excited about what the future holds and are looking forward to growing the
business further during 2021.”
Sources:
***
https://www.theedgemarkets.com/article/agriculture-coconut-revival
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