The companies has signed an agreement towards the joint development of the area. UMS Link was represented by its Chairman, Datuk K.Y Mustafa and its Director Prof. Dr Roselina Ahmad Saufi while Sesama Lautubing was represented by its Director Mohd Amin Ibrahim and Company Advisor, Ahmad Abdullah.
Minister in the Sabah Chief Minister's Department, and also the State Assemblyman for Senallang, Datuk Seri Nasir Tun Sakaran witnessed the signing.
Under the cooperation, UMS Link will undertake the management, operation and sourcing of capital while Sesama Lautubing will provide the site and the returns are to be shared by the two.
K.Y Mustafa said the seaweed culture project will take off in stages beginning next month and initial return from the project is expected to be obtained by the end of 2011.
"Our initial investment of RM1.5 million will cover basic infrastructure, training of workers and seedlings. For a start, we will develop 40.5 hectares in the first year," he told reporters on Monday.
As only 121 hectares of the 1,089-hectare are suited for seaweed culture, the rest of the area would be for marine projects or reserved as coral reefs.
"Our aim is to turn the whole area into an integrated aquaculture farm. We give priority to environment care. Where we can plant seaweed, we will, where we need to conserve, we will conserve," he said.
In his speech earlier, K.Y Mustafa said UMS Link made the decision to get involved in the project after it was impressed by the potential for the seaweed industry in the future and also the government's encouragement as announced in the Economic Transformation Programme.
Seaweed And Aquaculture Development In Malaysia
MALAYSIA - UMS Link Sdn Bhd, a wholly owned subsidiary of Universiti Malaysia Sabah (UMS), and Sesama Lautubing Sdn Bhd have agreed to develop a 1,089-hectare area in Terumbu Tubing, Ligitan, for the commercial production of seaweed and other marine source based projects.
