KUALA LUMPUR: Bio-based industry player, BIMP EAGA Bioeconomy Development Holdings Sdn Bhd is boosting Malaysia's bee farming sector with a proposed bee farming project in Sabah.
The company signed a memorandum of understanding with Flora Bee Hive Enterprise to start 500 bee hives.
The pilot project will take off in February 2017, to be set over 300 acres in Sipitang, Sabah.
Flora Bee Hive Enterprise is a bio-nexus status company with Malaysian Bioeconomy Development Corporation Sdn Bhd, the economic development agency overseeing the bio-based industries in Malaysia.
BIMP EAGA Bioeconomy Development Holdings signed the MoU with Flora Bee Hive Enterprise to boost the production of honey as the former has signed a sales and purchase agreement with Singapore-based Xali Pte Ltd to supply the island-republic company with 3,000 metric tonnes of honey over three years, valued at RM30 million.
BIMP EAGA's executive advisor Yan Hashim said that honey-based products could potentially generate RM300 million in revenue for Malaysia by 2018.
He spoke to the media at the MoU signing ceremony organised by Malaysian Bioeconomy Development Corporation here today.
At the event, guest of honour Sabah Deputy Chief Minister Datuk Seri Panglima Yahya Hussin, who is also the state's Minister of Agriculture & Food Industry, launched Sabah's "Bioeconomy Community Development Programme".