M'sian homegrown aquaculture firm to be listed in New York

KUALA LUMPUR: Homegrown aquaculture company, Agro Capital Management Bhd (ACMB), will be listed on the Over-the-Counter (OTC) Market in New York under the ticker ‘ACMB’, following the company’s successful reverse takeover (RTO) of a US-listed entity on the OTC exchange.

ACMB executive chairman Datuk Mohd Nasir Baba said he was confident the RTO would elevate the company’s profile in Malaysia and the Asian region.

“We are pursuing global recognition as a leading company in the trading, export and production of commercial aquaculture, namely marine shrimp and food fish,” he said in the statement on Thursday.

ACMB also planned to migrate to the New York Stock Exchange in the next four to five years, he added.

ACMB operates a broad range of aquaculture farms in Malaysia. It has ability to harvest from its own farms and export its products in the form of processed table food, as well as the capability to directly serve the ever-increasing demand of local market exporters.

ACMB was recently granted a 40ha area in Pekan, Pahang, by the state government for the development of aquaculture projects, bringing its total land development in the town to 60ha.

“Sustainable aquaculture is the future of seafood. We have recognised a market gap and need to meet the increasing market demand for seafood.

“Hence, we will continue to develop sustainable methods of cultivation in a cost-effective manner,” Mohd Nasir said. - Bernama