KUALA LUMPUR: Agro Capital Management Bhd (Agro Capital), will be listing under the ticker “ACMB” on the Over-The-Counter (OTC) Market in New York, following its successful reverse takeover (“RTO”) of a US-listed entity on the OTC exchange.
ACMB, a premier home-grown aquaculture company, operates a broad range of aquaculture farms in Malaysia.
ACMB has the 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. The company was recently granted 100 acres in Sungai Miang, Pekan by the state government of Pahang.
The 100 acres is granted with concessionary aquaculture rights for the development of aquaculture projects in the state of Pahang, which is part of a 268-acre project that is planned for the assigned area.
This project grant is expected to create and increase the current job market in Pahang, as well as neighbouring states and provinces over the next few years.
In addition to the abovementioned 100 acres, ACMB already has 50 acres within the same development area bringing the Company’s total land development size in Pekan to 150 acres.
Aquaculture is increasingly becoming a way to produce marine fish and shellfish through sustainable methods for consumption and export, without causing additional strain to natural seafood populations.
“Sustainable aquaculture is the future of seafood. Part of the reason for aquaculture’s growth is the increase in global demand for seafood coupled with a flat or declining supply from wild harvesting. We have recognized a market gap and need to meet increasing market demands for seafood, and hence, will continue to develop sustainable methods of cultivation in a cost-effective manner,” said executive chairman Datuk Mohd Nasir Baba.
AMCB, winner of the Super Product category at the 5th Asia Success Awards, anticipates elevating the Company to the New York Stock Exchange (NYSE) in the next four to five years.
Mohd Nasir said he is confident that the RTO would not only expose ACMB’s profile as a premier aquaculture company in Malaysia, but also in the Asian region.
“We are pursuing global recognition as a leading company in the trading, export and production of commercial aquaculture of marine shrimp and food fish,” he further added.