EAST Malaysian integrated poultry producer, Comsa Farms Bhd, whose listing was transferred to the KLSE main board yesterday, plans to aggressively pursue a wider export market within the Asean and East Asian region.
Its executive chairman and chief executive officer Datuk Kour Nam Ngum said the group hoped to become “a conglomerate” that would benefit from operating within this sizeable market.
Speaking to reporters after the transfer ceremony at the KLSE, Kour said that Comsa, which is also a halal food supplier, was similarly eyeing more Muslim-dominated markets in the region.
He said Comsa's intention to list its wholly owned subsidiary, Comsa Feedmills Sdn Bhd, on the Singapore exchange via a new company would strengthen the group's position as “a prominent regional player and, thereafter, a global one”.
As such, the group's stake in the new company would be kept at more than 50%, he added.
The group's 33 farms in Sabah produce an average 200 million eggs together with between six and nine million birds a year.
Comsa has a market share of 40% for both poultry and eggs in the state. In addition, it supplies some 30% of the feed for chicken, fish and prawns there.
“The close proximity of Comsa's farms to Kalimantan and southern Philippines has strong advantages, as these locations have high demand for eggs and poultry products,” Kour said.
He said that expansion was on the cards.
“We are targeting to increase our production to between 270 million and 300 million eggs through investment in new high tech equipment,” Kour said.
He said the assets of the group had grown eight fold to RM400mil from RM48mil since listing on the second board in 1998.
Did you find this article insightful?