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KUALA LUMPUR, Feb 28 -- The National Farmers Organisation (NAFAS) has signed a memorandum of understanding (MoU). worth RM100 million, with ARJ Holding LLC (ARJ Holding) which is one of the largest companies based in Dubai in the United Arab Emirates (UAE).
In a statement today, NAFAS said the MoU, which was inked last week, was aimed at holding joint ventures in the ruminant livestock business, cooking oil trade as well as cellulose manufacturing from biomass materials.
Member of the NAFAS board of directors Datuk Sylvester Entri Muran said the collaboration, among others, could establish business ties to drive sustainable agriculture between the two countries and also serve as a starting point for large-scale 'business opportunities' through the latest technology.
“NAFAS hopes such cooperation would be mutually beneficial to both parties and could contribute to improving the agreed activities," he said.
He said NAFAS and ARJ Holding would provide detailed arrangements in identifying their respective responsibilities to implement the agreement which consisted of discussions, investment strategy planning, and the implementation of investment activities after the signing of the MoU.
Entri said both companies will work towards assisting each other within the scope of the MoU which would be mutually beneficial to both parties as well as to Malaysia and the UAE.
"NAFAS will work towards taking steps to encourage cooperation in carrying out investment activities that are profitable as well as to increase the synergy between both parties according to current suitability," he said.
The statement said Entri represented NAFAS at the MoU signing ceremony held in Dubai while ARJ Holding was represented by its group president Shahab Ahmed Ramadhan Juma. The event was also witnessed by NAFAS board member and NAFAS Investment Committee chairman Mohammad Bahrin Abd Karim.
Also present were the Malaysia Agriculture Office (Dubai UAE) counsellor Mohd Zahirul Naqi Shoaib, senior business management manager Baharozaman Mohid as well as marketing and promotions division manager Mohammad Fauzie Tamin.
According to the statement, the MoU signing ceremony was held in conjunction with Malaysia's Sustainable Agriculture Week at Expo 2020 Dubai, and it is an important initiative that will drive and increase investment opportunities as well as cooperation in sustainable agriculture.
NAFAS organised various interesting programmes during the week such as pocket talks, business matching, farmers' product introduction sessions as well as cooking demonstrations by Chef Rene.
The NAFAS delegation was in Dubai in conjunction with Expo 2020, held from Feb 20 to 26, at the Malaysia Pavilion hosted by the Ministry of Agriculture and Food Industries with Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation) as the implementing agency.
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