MUAR: Teo Seng Capital Bhd (TSC) expects its daily egg production to increase to 3.5 million within the next three years from about 2.8 million at present.
Chairman Lau Jui Peng said the additional 700,000 eggs would come from the company’s new farm in Sungai Linggui, Kota Tinggi when it’s fully operational by 2017.
He said the company would invest RM50mil to open the 109.25ha farm to be developed in four phases over three years.
“The investment is part of our business strategy to strengthen and position ourselves as the largest listed layer farming entity in the country,’’ Lau said after the company AGM yesterday.
He said the company exported between 30% and 35% of its eggs to Singapore, up from 10% in the past three to five years.
The company has almost 20 farms in Batu Pahat with over two million layer birds.
“When the Kota Tinggi farm is fully operational in three years time, we expect to export 40% of our eggs to Singapore,’’ said Lau.
He said the decision to set up the layer farm in Kota Tinggi was because of its shorter distance from Singapore compared with Batu Pahat; hence it’s more cost-effective to transport the eggs to the republic.
Managing director Nam Yok San said the company’s eight farms in Batu Pahat were accredited and granted export licence by the Agri-Food and Veterinary Authority of Singapore (AVA).
“We will also apply to AVA to inspect our Kota Tinggi farm for similar accreditation to export our eggs to the republic,’’ he said.
Nam said Malaysia remained important to the company as demand for eggs in the country was still good adding prices of eggs in the country had stabilised in recent years.
He said Malaysia has one of the highest egg consumption per capita in the world at 320 eggs yearly as it was among the cheapest sources of protein.
“Most Malaysians take half-boiled eggs daily for breakfast, also in their nasi lemak and roti canai as well as lunch, dinner and supper,’’ said Nam.
For the financial year ended Dec 31, 2013, TSC recorded RM23.37mil net profit on RM330.75mil revenue against RM577,245 and RM197.53mil net profit and revenue respectively in FY2012.