Perlis firm inks US$100 million fishing boat deal

KUALA PERLIS, 12 Oct 2017: 

Perlis Marine Engineering Sdn Bhd (PME) aims to build over 100 modern sea fishing vessels worth about US$100 million in five years – in partnership with Chinese company LuHaiFeng Holding (M) Sdn Bhd (LHF).

PME general manager Captain Ahmad Azamri Muhamad Nor said the joint-venture was sealed following the signing of a memorandum of understanding (MoU) signed at the company’s wharf here yesterday.

Ahmad Azamri signed for PME and LHF executive director Ben Lee represented the Chinese company.

“Under the agreement, PME will provide facilities at its dock along the Perlis River and LHF will be responsible for bringing in the ship components from its parent company in Qingdao, China, to be installed in PME and to sell and help to secure loans for buyers,” Ahmad Azamri said.

He said fishing vessels, measuring between 22m and 25m in length, would be made of stainless steel or fibreglass – and were designed to catch different fish and cost not less than RM2 million each.

“This MoU is also in line with the government’s agenda to transform deep-sea fishing activities using high-technology ships such as those in the developed countries.”

Lee said the MoU included technology transfer and experts from Qingdao Luhaifeng Foods Ltd (QDLHF), the parent company of LHF, would be initially stationed at PME to assist in the installation of the vessels that had been ordered. So far the company has received six orders, he said.

PME is a subsidiary of the Perlis State Economic Development Corp. LHF – part of the QDLHF group of companies – is located in Qingdao Economic and Technological Development Zone, China and has a deep wharf.

– Bernama

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