Memorandum of Understanding Signing Ceremony

The Strategic Development Capital Fund, Ministry of Finance and Economy, signed a Memorandum of Understanding, MoU with the 8F Asset Management Pte Ltd, a private equity fund management company from the Republic of Singapore, yesterday afternoon. The signing was held at Indera Kayangan Ballroom, The Empire Brunei.

The MoU was signed by Yang Berhormat Dato Seri Setia Doctor Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister's Office and Second Minister of Finance and Economy, while on behalf of 8F Asset Management Pte Ltd, the MoU was signed by its Chief Executive Officer, Karim Ghannam. The MoU formalizes the intention to invest in a land-based farming facility for Atlantic Salmon using the 'Recirculating Aquaculture System', RAS with the capacity of 10 thousand tonnes per annum.

The facility management will be conducted by Pure Salmon Pte Ltd, a global company for 8F's investments. The company will provide a range of expertise in Atlantic Salmon including hatchery, production, processing, purchasing, quality assurance, distribution and brand management. The project is expected to generate 145 employment opportunities and will supply the Atlantic Salmon domestically and regionally.

Source: Radio Television Brunei