Agrobank’s strategic Financing Boosts Growth Of SG1 Premium Pineapple Industry

KUALA LUMPUR, Sept 3 (Bernama) -- Agrobank continues to strengthen its role as an agricultural development financial institution by channelling pineapple industry development financing to Ning Planters Sdn Bhd to support the development of the Sarawak Gold 1 (SG1) premium pineapple industry.

Its group president and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin said the bank is committed to being a catalyst for the growth of the modern, high-value, and sustainable agricultural sector.

“This financing reflects Agrobank’s mandate in increasing the added value of local agricultural products, expanding market access and strengthening the participation of entrepreneurs and smallholders in the industry value chain.

“With a focus on capacity development and strengthening the industry ecosystem, we are confident that this initiative can create new economic opportunities, raise the income of the agricultural community and bolster the competitiveness of SG1 pineapple in the local and international markets,” he said in a statement yesterday.

Tengku Ahmad Badli Shah officiated the mock cheque handover ceremony. 

Agrobank said Ning Planters was officially established in 2020 to commercialise the SG1 variety developed through research and cultivation efforts since around 2016.

The Miri-based company currently operates large-scale planting operations in Tukau, Miri, and plays a leading role in developing the SG1 pineapple value chain, including supplying planting materials to smallholders, it said.

“With Agrobank financing support, Ning Planters is also expanding its SG1 pineapple processing capacity to meet domestic and export market demand.

“This collaboration also creates opportunities for small entrepreneurs and farmers to participate in the industry value chain through access to financing, training, guidance, and related development programmes,” said the bank. 

Agrobank said it is committed to continuing to support the development of the high-value agricultural sector as well as initiatives that strengthen the capabilities of local industry players, in line with the aspiration to make Malaysian agricultural products more competitive globally. 

-- BERNAMA