Sabah honey project with RM300m potential Feb
Published on: Thursday, December 01, 2016
Kuala Lumpur: BIMP Eaga Bioeconomy Development Holdings Sdn Bhd aims to generate a potential revenue worth RM300 million from the Borneo Honey Bee Farm Project by 2021.The project, under the Bioeconomy Community Development Programme (BCDP) Sabah, is expected to kick off from February 2017."We hope to generate five million kilogrammes raw honey by 2021, and the RM300 million potential revenue will be generated from the downstream products such as cosmetic and honey drinks," said BIMP EAGA Bioeconomy Executive Advisor, Yan Hashim.
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Yan said the company had inked a sales and purchase agreement (S&P) worth RM30 million with Singapore-based company, Xali Pte Ltd, last month to supply 3,000 tonnes of honey for three years beginning Dec 1, 2016."We will become one of the honey suppliers of Xali, and the latter will export our honey to its customers worldwide, including Europe," he said.Deputy Chief Minister cum Agriculture and Food Industry Minister Datuk Seri Yahya Hussin, who witnessed the signing of the MoU between BIMP-EAGA Bioeconomy and Flora Bee Hive Enterprise (FBH) for the proposed project under BCDP, said BCDP is a new field that Sabah will venture into and vital to boost the State's economic development and elevate the living standard of the people, especially in rural areas.He said the Bioeconomy Corporation under the purview of the Ministry of Science, Technology and Innovation is collaborating with BIMP-EAGA Bioeconomy Development Holdings Sdn Bhd (BIMP-EAGA Bioeconomy) to spur the development of the bio-based industry in Sabah through BCDP.
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"The bioeconomy features and the potential of Sabah's biodiversity can benefit through the programme."I was made to understand by Bioeconomy Corporation and BIMP-EAGA Bioeconomy Holdings that each person operating the bee farm can earn between RM1,500 and RM5,000 depending on the number of bee hives," he said.
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Also present were Yahya's Assistant Minister Datuk Musbah Jamli, another assistant minister Datuk Sairin Karno, Bioeconomy corporation acting chief executive officer Syed Agil Syed Hashim, and other officials.Yahya said that the partnership demonstrates strong support from Sabah in moving the bioeconomy agenda forward and will ensure implementation of more BCDP's projects in the state.His Ministry would provide the necessary assistance to BIMP EAGA Bioeconomy in order to develop the 'Borneo Honey Bee Farm Project' targeting at least 5,000 bee farmers by 2021.Furthermore, he said the state will assist towards positioning the Sabah's Honey Industry to go global."I would like to congratulate the BIMP EAGA Bioeconomy Development Holdings Sdn Bhd for successfully procuring a contract of selling and supplying honey to Singapore Europe with a contract valued at RM30 million."I was also made to understand that the sales and purchase agreement of honey worth RM30 million from overseas companies would involve the export of the honey bee for 3,000 metric tonnes," he said, adding the honey from Sabah would be exported to Brunei Darussalam, Singapore, Indonesia, Japan, Dubai, Egypt and Saudi Arabia.Meanwhile Syed Agil said further efforts are needed to ensure the bio-based sector continues to assume a larger role on developing Sabah economy.Stay up-to-date by following Daily Express’s Telegram channel.
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