Wednesday, September 15, 2010

Swiftlet farming for bird nests a viable investment through ISUs

Swiftlet farming for bird nests a viable investment through ISUs

The Borneo Post

KUCHING: Swiftlet farming for bird nests will become a viable investment in Sarawak and Sabah through interest scheme units (ISUs).
Wong Teck Heng
Wong Teck Heng
“Given the opportunity by the state government, I believe that this investment scheme will be extremely feasible as Sarawak is blessed with the potential to support this business,” highlighted Wong Teck Heng, managing director of SSEP Resources Sdn Bhd (SSEP Resources) in a press conference yesterday. “Through this venture, we aim to give the opportunity to the general public, who do not have the time or financial capability to individually manage their swiftlet farms, to be able to profit from this growing investment method.”

The projected figures, compiled by an independent consultant experienced in the industry, affirmed the viability of this investment scheme which promises a return of more than RM270,000 over 35 years based on the purchase of one ISU. “Each unit is priced at RM10,000 for the moment, yielding approximately 75 per cent per year in returns on the original investment,” Wong said.

“However, investors would not see any return on investments for the first two years as it would take some time for swiftlets to settle and build its nests. We will only be able to harvest these nests after the third year.”
These ISUs are flexible as they come with guaranteed buy back, transferable or tradable features – a first of its kind in this industry.
Wong, who is also the secretary to the Swiftlet Farming Association, added that there were 14 swiftlet eco-parks throughout the peninsula. The group aimed to build eight more parks in Sarawak pending approval from the local government.
These are managed by a group of directors with the current chairman being Tengku Besar Terengganu Datuk Seri Sharifah Nong Alsagoff Abdillah, mother to the current Agong. This is a fully licensed business and investment tool approved by the Companies Commission of Malaysia. In addition, the trustees for these ISUs are PB Trustee Services Bhd.

On a parting note, Wong hoped that the state government will be able to work with SSEP Resources to obtain approval with this project apart from assisting in the search for suitable lands to establish these swiftlet eco-parks. “Swiftlet ranching has positive spillover effects on other industries as well. The most notable is the property sector whereby land values surrounding the eco-parks spiked, apart from the construction sector and manufacturing industries.  “We hope that the society will share this sentiment as well to help our progress in East Malaysia,” he concluded.

Swiftlet Ranching in Penang (2009)

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