KUCHING: Agrobank has inked a strategic Memorandum of Understanding (MoU) with Sarawak Incorporated Sdn Bhd (SISB) and Ning Planters Sdn Bhd to drive the country’s agriculture landscape, especially in the pineapple growing industry.
According to Agrobank President and Chief Executive Officer Datuk Tengku Ahmad Badli Shah Raja Hussin the signing of the agreement is a strategic step to empower the country’s pineapple industry which contributes to food security.
He pointed out that as a leader in the agricultural banking sector, the bank offers financing facilities to B40 agricultural entrepreneurs under the supervision of Ning Planters Sdn Bhd and Sarawak Incorporated Sdn Bhd.
“The scope of financing that we offer includes businesses related to smart agriculture, the use of mechanisation, processing activities and agriculture-based biotechnology as well as agrotourism development,” he said when met by the media during the signing ceremony at Vivacity Megamall here Saturday.
He said that Malaysia has an advantage in the pineapple industry which needs to be fully utilised.
“With global demand on the rise, this opens up ample opportunities for Malaysia to strengthen its position as a major pineapple producer and exporter.
“Agrobank’s commitment in providing comprehensive financing and support will help produce more entrepreneurs in this sector which will further drive export growth and contribute to the country’s economic development,” he said.
Ahmad Badli said this strategic collaboration allows Agrobank to expand its social impact to the farming community while also being a catalyst in the production of sustainable and high quality pineapples.
“We hope that through this joint venture with Ning Planters Sdn Bhd and Sarawak Incorporated Sdn Bhd, there will be more agricultural entrepreneurs who are interested in venturing into the pineapple growing industry.
“This, in turn, will create a more competitive local agricultural ecosystem and reduce import dependency,” he said.
SISB is in the process of implementing the MD2 pineapple plant project which will be cultivated on 800 hectares of land in Lingga, Sri Aman.
As the SISB will establish an Integrated Pineapple Complex itself, it will see to all the processes from seeding until the pineapple plant itself is processed into various pineapple-based products.
Meanwhile, Ning Planters Sdn Bhd is the leading company in the Sarawak Gold 1 (SG1) pineapple industry.
As Ning Planters has been collaborating with Agrobank for several years, this agreement is seen as the continuation to further develop the pineapple business and industry in the north of Sarawak.
The signnitories of the MoU were Ahmad Badli; SISB chief executive officer Wan Abu Bakar Wan Hamid; and Ning Planters General Manager Datuk Yap Foot Loy.
