New Agricultural Projects Expected To Contribute To Group Revenues
KUALA LUMPUR, MALAYSIA - Media OutReach - 12 January2021 - The Joinland Group, a diversified Malaysian conglomerate of varied businessinterests, is looking forward to the future with optimism, due to two newagricultural projects that are coming onstream in Sarawak over the course ofthe year.
Dato' Sri Thomas Hah TiingSiu, the founder of Joinland, said, "We have decided to invest in the agriculturalaspect of our business, both to diversify income for the overall group andbecause it's clear as that there is bothhigh and growing demand particularly for fresh pineapple/coconut andpineapple/coconut-based products from neighbouring countries, the Middle Eastand China. As such we began pineapple and coconut planting in the Sungai Raitand Kuala Baram areas of Sarawak earlier this year. We believe that this willcreate an important revenue stream for the business moving forward."
According to Malaysia's Ministry of Agriculture(MOA) Malaysia exported RM419 million in pineapple products in 2019 -- a 60% increaseover 2018* -- and the Ministry also predicted annual growth for the industryexceeding 5%.** Likewise, while coconut is currently Malaysia's fourth largestindustrial crop, behind oil palm, rubber and rice, the demand for coconutproducts has also been growing rapidly driven by higher awareness of the healthbenefits of the fruit.***
Aspart of its agricultural focus, Joinland has invested in R&D, technologyand automation to ensure the best productivity, fruit quality, storage anddelivery in the industry. Joinland willbe planting the 'Matag' variety coconut and the 'MD2, N36 and Josapine'pineapple variants.
Thecompany is focusing on downstream processing to ensure value creation for itsagricultural products and to ensure compliance with food and safety standards(HACCP, Halal, GMP, MesTi, etc.), which will in turn ensure the marketabilityand premium pricing of these products through the company's internationalpartnerships and sales channels.
The Joinland Group, which isheadquartered in Miri, Sarawak, is involved in many different businessesincluding a major agro-forestry project on the island of New Hanover in PapuaNew Guinea, Swiftlet Farming in Sarawak, real-estate management (includingdevelopments in Malaysia, Singapore and China) and substantial investments inseven other businesses in Malaysia, Singapore, China and New Zealand.
Just as it has done for businesses worldwide, theCOVID-19 pandemic did impact Joinland's revenues and operations in 2020. Thebiggest impact was on the company's Swiftlet Farming operations, with both areduction in the price of edible bird nests (due to reduction of tourism andinterstate transportation complications), as well as operational issues (travelrestrictions) which limited oversight of the production houses.
Commenting on this Dato' Sri Thomas Hah Tiing Siu, commented, "We expect that things will gradually improvein 2021, although this may take a while. Many of the very severe restrictionsthat were imposed with the first Movement Control Order (MCO) in Malaysia havegradually eased, which has helped, but we will continue to face challenges in2021, particularly in the Swiftlet Farming element of our business due to thelow-price of edible bird nests, labour supply issues and increased operationalcosts due to higher transportation charges. This is why we are delighted tohave got our new agricultural projects underway."
In concluding, Dato SriThomas, said, "Despite the unpredictable nature of life at the moment, I amconfident that Joinland Group is well positioned to ride out any furtherturbulence thanks to the wide ranging and diverse nature of our business. Weare excited about what the future holds and are looking forward to growing thebusiness further during 2021."
About Joinland Group
The Joinland Group is a diversified Malaysian conglomerate includingproperty, plantation, forestry and agricultural management, insurance andshipping businesses, to name a few. The company operates businesses andinvestments in many markets including Malaysia, Singapore, Brunei, Australia,Papua New Guinea, China and New Zealand, among others.
The company was founded by Dato' Sri Thomas Hah Tiing Siu, a self-made entrepreneur who started out in the cold storage business. In2013 he was awarded the honorary title of Dato' Sri by the Sultan of Pahang(Malaysia) in recognition of his management skills and business acumen inbuilding the Joinland Group.
Formore information on the Joinland Group please visit www.joinlandgroup.com.my