Brunei - 3 local Brunei farms yesterday entered into a joint venture with a Malaysian company to build a $7-million feedmill, the first of its kind in the Sultanate.
Scheduled to begin production by the first quarter of 2012, the feedmill will have capacity of 130,000 metric tones per year for poultry feed.
The joint venture was signed among Gold Coin Malaysia Group and Brunei’s QAF Farms, Hua Ho Agriculture Farm and Soon Lee Holdings.
Gold Coin Malaysian Group Chairman Dr Thomas Zuelling said, "Our desire to build a feedmill in Brunei is to initially support our partner businesses in securing their own future business growth potential, as well as to provide Gold Coin Feedmill with the opportunity to share almost 60 years of feedmilling experience, research and development, and intellectual property."
He said the mill will also help to create employment opportunities for Bruneians.
"The key roles will require extensive training under the wings of Gold Coin and these skills and knowledge will be brought into Brunei from other Golf Coin facilities in the region," he said.
He said that the decision to build and operate the Gold Coin Feedmill Brunei signals the commitment of the joint-venture partners to help achieve Brunei’s vision for self-sufficiency in food supply, particularly for chicken products.
"This investment not only supports this intelligent initiative towards self-sufficiency but it also goes a long way towards guaranteeing the production and supply of halal and quality poultry meat and products in Brunei," said Zuelling.
He said the initial investment will be spent on the mill itself, using the latest technology in feedmilling, in addition to environment-friendly machinery.
"Our mill will be set up to meet the very best in operating processes and procedures to … (provide) consumers with quality and safe products," he said, adding that there could also be plans to enter export markets eventually.
"Our long-term relationship is the foundation on which we place great trust in each other to make this a successful venture," he said.
"In joining together, we are fully aware that this joint venture has many beneficial implications for the whole community. This will be the first feedmill to be built and operated in Brunei and this makes it a very exciting project for us personally," he said.
Signing the joint venture on behalf of Gold Coin Malaysia Group was Zuelling while QAF Farms, Hua Ho Agriculture Farm and Soon Lee Holdings were represented by General Manager Bohari Dasin, Managing Director Lau How Teck and Managing Director Ong Chek Teng respectively.
The signing was held at The Empire Hotel & Country Club, Jerudong.