Japan-based agritech company MYFARM Inc has recently put forward plans to invest MYR 210 million (USD 47 million) in a durian, agriculture and aquaculture cultivation project in Malaysia. Marked as the largest Japanese investment in durian plantation, the project will cover 1,000 hectares of land in Raub, Pahang and is valued at MYR 429 million (USD 97 million).
MYFARM through its local unit, Millennium Agriculture Technology Sdn Bhd (MAT), is partnering with PLS Plantations’s associate, PLS LESB Sdn Bhd to form a joint venture company, Akar Barat Jaya Sdn Bhd. MYFARM will work with PLS Plantations to enhance technology at PLS Plantations’ durian farms, as well as with other local farmers to strengthen production and harvesting techniques.
PLS Plantations has a total of 1,500 hectares of land, with Musang King durian trees ranging from zero to three years old. The group anticipates significant returns from the durian plantation segment over the next three to five years. PLS Plantations is also looking at other types of cash crops, including pineapple and bananas, to take part in the nationwide food security program. On the other hand, MYFARM operates one of the largest agricultural schools in partnership with Tokyo Agricultural University and has produced 2,300 graduates over the past 12 years.
(Sources: The Star; Fruit Net)
