Bright future for tiger grouper fish farming

Aquaculture experts Global Hi-Q Bio-Tech (M) Sdn Bhd has successfully embarked on its much-anticipated multi-million ringgit venture to breed high quality tiger grouper fish in an indoor farm on Pangkor Island, Perak.

The venture, which materialised from a partnership between the local firm and its Taiwanese parent company Hi-Q Bio-Tech International (Taiwan) Ltd two years ago, has now entered into Phase Two with the recent completion of its RM13mil nursery in Teluk Dalam.

Hi-Q Bio-Tech managing director Johnson Chang said that with the nursery now in place, the mammoth fish farming venture would grow endlessly.

“The thing about Malaysia is that it is simply the perfect spot to breed this kind of fish,” he said in his speech at the launch of the farm recently.

Chang said the annual demand for live tiger grouper fish in China was about 8,000 metric tonnes in 2005 and it had been increasing since then.

The tiger grouper was valued at 10USD (RM32) per kg in 2006 and a whopping 16USD (RM52) per kg last year, said Chang.

Malaysia’s suitability for the venture, he added, was due to its geographical location and climate conditions.

Chang also said that with the acquired site of over 20ha at the Pangkor Forest Reserve, the venture would turn lucrative in a short time, especially with the company’s biotechnological expertise.

“Here we use the ecological re-circulation aquaculture system (ERAS) technology, which is really the secret to success behind indoor fish farming,” he said.

The technology, said Chang, was developed by the Taiwanese after over 30 years of research and development.

Chang said Global Hi-Q could secure a high net profit of between 44% and 52% and a stable return on investment of between 24% and 34%.

“With these figures, earnings can go up to RM500mil in just five years,” he said.

In the future, said Chang, the initiative in Pangkor Island might even expand to include an indoor recreational farming club for outsiders to fish and enjoy.

Chang said the company would be training at least 100 local bumiputra entrepreneurs in its technology, a system that was lauded by the Malaysian government.

Entrepreneur and Cooperative Development Minister Datuk Noh Omar, during the launch of the nursery, gave his approval for 10 entrepreneurs to enter into the training programme under the company.

“Those selected will be given RM300,000 loans each from MARA, with Global Hi-Q agreeing to stand as guarantor.

"The participants will get to manage their own fish farms which can produce about 20,000 metric tonnes of fish fry annually,” said Noh.