Plentiful was established with the focus on marine fish breeding, hatchery and rearing of marine fish. In an effort to expand the Group’s operations and to remain as pioneers in the aquaculture industry in Malaysia, and during the year, Plentiful acquired a wholly own subsidiary Plentiful Earnings; Marine are principally involved in the rearing of marine fish whilst Salient owns two live fish carriers for the transportation of the Group’s live fish to its customers in Hong Kong, Southern China and other part of Asia Pacific, if required. Well Sky is currently dormant.
For more than 10 years since Borneo Aqua Group commenced operation in year 2004, Borneo Aqua Group has become an integrated aquaculture Group which is involved in the entire process of sustainable aquaculture; i.e. broodstock management, research and development (“R&D”), breeding, hatching, rearing, production of live feed, marketing, transportation of live fishes and distribution of fish products.
With the dedication of its experienced management team together with the comprehensive R&D programs, the Group is very confident that it will be able to contribute positively to the country’s aquaculture industry to enable it to join the few elite countries in the forefront of marine fish breeding in the Asia Pacific region, with particular emphasis on the Grouper species, in line with the Government’s aspiration of self sustainability in this sector. In addition, a successful and sustainable aquaculture industry will contribute to Malaysia’s economic growth by creating employment, reducing import of marine fish fry and fish and foreign currency earnings.
Borneo Aqua is certified by Skim Pensijilan Ladang Akuakultur Malaysia (“SPLAM”), a voluntary scheme managed by the Department of Fisheries, Malaysia with the purpose of promoting responsible and eco-friendly aquaculture practices. One of the important elements incorporated in the scheme is ISO 9002.
From 18 January 2014 to 17 January 2017, Borneo Aqua has continued been granted the International ISO 9001:2008 Standards for the whole production process and distribution of Grouper species under UKAS Management Systems (from SGS UK LTD) and Standards of Malaysia (from Accredited Certification Body), as well as obtaining the HACCP Codex Alimentarius certification.
To-date, our research and development (R&D) team has achieved in producing Coral Trout Grouper, Marble Grouper, Humpback Grouper, Coral Rockcod, BarredCheek Coral Trout, Tomoto Rockcod Grouper, Camouflage Grouper, Giant Grouper and Malabar Red Snapper for commercialization. Other than that, through extensive R&D, the Group has also succeeded in producing crossbred Grouper species; Sabah Giant Grouper, Sabah Coral Rockcod, Sabah Camouflage, Sabah Giant Camouflage, and Sabah Giant Rockcod. The Group will continuously carried out its R&D activities in the breeding of other high value marine fish and cross breeding of various species.
Currently, Borneo Aqua Group trades its fish products in Hong Kong and China by distributing fish fry and live adult fish to the distributors. In order to promote our products, the management of Borneo Aqua Group is planning to extend further downstream to deliver our products directly to the end consumers instead of only through distributors. On 17 October 2011, Plentiful Earnings had obtained approval from Malaysia Finance Minister pursuant to the Income Tax Act, 1967, to carry out sea cages fish farming project (“Project”). Under the approval, Plentiful Earnings is granted exemption of income tax at 100% on its statutory income for a period of 10 years commencing on the first year Plentiful Earnings having its first statutory income from the Project.