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NEWS UPDATES 5 August 2009

Bank sees great potential for Malaysia’s food sector

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The food and agriculture (F&A) sector in Malaysia has plenty of room to grow and local players have been expanding despite the global economic slowdown, a local business daily reported, quoting comments by Netherlands-based Rabobank International.

According to StarBiz, the bank had been providing financing to Malaysian companies expanding into places such as the Americas and India.

Bank Negara (Malaysia central bank) statistics for the first quarter of 2009 also showed that more than 10 percent of total loans had been disbursed to the F&A sector by commercial and development banks, the bank’s business development director Kao Chee Ming Kao noted.

“We have also had many requests from clients looking for assets from this sector on fire sales (extremely discounted prices),” he told StarBiz in an interview. “If the agri sector can be big for the Netherlands, a country which is one-eighth the size of Malaysia, the growth potential for F&A in Malaysia is certainly there.”


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