Naza Plantation Signs MoU With Taiwan-based YesHealth To Set Up Vertical Farming
KUALA LUMPUR
22nd November 2018
Naza Plantation Services Sdn Bhd, the agricultural business unit of the Naza Corporation Holdings Sdn Bhd, today signed an MoU with YesHealth Agri-Technology Co Ltd. to signify a new joint venture to establish a leading vertical farming company in Malaysia and South East Asia.
The MoU signing took place at MAEPS, Serdang in conjunction with the Malaysia Agriculture, Horticulture & Agrotourism Show (MAHA 2018).
This joint venture agreement will be the first between Naza Plantation Services and the Taiwan-based company. The establishment of this joint venture agreement will see an investment of RM35 million for the development of a technologically-advanced vertical farming business in the country.
“We are proud to partner with YesHealth Agri-Technology Co Ltd., a renowned fully-integrated vertical farming company on this new joint venture that will contribute significantly to national food security. This collaboration is yet another milestone of Naza Agro’s business plans to expand and evolve its agro business in Malaysia and for its export markets to other Asian countries,” said SM Nasarudin SM Nasimuddin, Group Executive Chairman & CEO, Naza Corporation Holdings Sdn Bhd.
“Vertical farming is the way forward to ensure global food supply is met with current demands. Latest agricultural technologies from YesHealth have enabled the production of vegetables in an environmentally friendly way at a more cost-effective and space-saving solution. This revolutionary method of farming ensures the produce is healthier, chemical-free with no use of pesticides and guarantees crop yields all year long,” added SM Nasarudin.
Currently the world’s largest hydroponic vertical farming company by production volume, YesHealth will contribute significantly to the joint venture through its proprietary technologies and expertise in environmentally responsible agricultural practices in vertical farming that creates higher yields compared to traditional field farms. The produce from the indoor vertical farms are completely free from pesticide and heavy metal with very low nitrate level and bacteria load. As a result, consumers of the this day and age would be able to enjoy a much greater selection of fresh, safe and highly nutritious vegetables.
The Taiwanese company will be responsible for the structural design of the vertical farms, and operational support, providing its related know-how and training of local operators. Meanwhile, Naza Plantation will construct the facilities and run the management, sales and distribution aspects for the products.
Naza Agro, a Biotechnology Transformation Programme (BTP) status company, was established in 1995 as the agro business arm of the Naza Group, is involved in the production of tropical fruits and vegetables using high technology agro systems with cutting-edge biotechnology, green house fertigation system, vertical farming, biofertilisers and commercial farming methods. Naza Agro now owns and manages 3,118 acres of sprawling plantations located in Pahang, Perak, Perlis, Pulau Pinang and Negeri Sembilan, producing premium MD2 pineapples under their trademark Tropicale brand for local distribution and export. Naza Agro also manages a tropical fruits distribution and certified export centre in Serdang, Selangor and processing factory in Pekan Nanas, Johor.
Naza Agro’s long-term vision is to establish a strong presence in the China market and continue to explore other export markets such as Japan, Korea and the Middle East. Plans are also in the pipeline to expand their tropical fruits plantation land bank by another 2,000 acres which includes planting of pineapple, melon and durian for export market within five years’ time.
With this new joint venture with YesHealth Agri-Technology Co Ltd., Naza Agro hopes to supply fresh vegetables for the domestic market and in the near future supply to export markets in Asia.
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About Naza Plantation Services Sdn Bhd:
Formed in 1995, Naza Plantation Services Sdn Bhd, a Biotechnology Transformation Programme (BTP) status company, is the agro business arm of the Naza Group with over 20 years of experience in the agriculture sector. Under the Naza Agro pillar, Naza Plantation Services is involved in the production of tropical fruits and vegetables using high technology agro systems with cutting-edge biotechnology, green house fertigation system, vertical farming, biofertilisers and commercial farming methods.
Naza Agro now owns and manages 3,118 acres of sprawling plantations located in Pahang, Perak, Perlis, Pulau Pinang and Negeri Sembilan, producing premium MD2 pineapples under their trademark Tropicale brand for local distribution and export. Naza Agro also manages a 14,334 sq ft of tropical fruits distribution and export centre in Serdang, Selangor and processing factory in Pekan Nanas, Johor.
“Tropicale” is a registered Trademark in Malaysia and Singapore.
About Naza Group of Companies:
The Naza Group of Companies began operations in 1975 as an importer of used cars by the late Tan Sri SM Nasimuddin SM Amin. Fast forward to today, the Naza Group’s automotive business has expanded extensively to provide comprehensive end-to-end services with more than 100 points of sales. The Naza Group now represents 10 international automotive brands as the importer and distributor for numerous international four-wheel and two-wheel marques including Ferrari, Maserati, Mercedes-Benz, Peugeot, Citroën, DS, Kia, Ducati, Indian Motorcycle and Vespa in Malaysia.
The Naza Automotive Manufacturing (NAM) plant, set up by the Naza Group in 2004, is now the regional manufacturing hub for Groupe PSA for the ASEAN market. The Group also established the Naza Automall as Malaysia’s ‘Largest Automotive Showroom’ – certified by the Malaysia Book of Records – displaying a wide variety of cars and motorbikes as the country’s premier ‘one-stop-centre’ lifestyle auto mall.
The property development arm of the Naza Group, Naza TTDI Sdn Bhd, is on course to becoming a formidable property developer in Malaysia, committed to delivering quality lifestyle concepts and products with customer service excellence. Today, Naza TTDI is the developer for several high-impact property projects namely KL Metropolis, Malaysia International Trade and Exhibition Centre (MITEC) and Platinum Park in Kuala Lumpur.
Over a span of 40 years, the Naza Group’s portfolio has diversified to encompass automotive franchises, property development, engineering & construction, manufacturing, asset management, telecommunications, agriculture, education, F&B, finance and insurance and transportation sectors.
For more information on the Naza Group of Companies, please visit www.naza.com.my.