 |
| BERNAS Chairman |
The extension commenced from January 11, 2011 to January 10, 2021 subject to the terms and conditions to be mutually agreed between both parties.
The Government had agreed to grant BERNAS an interim period of 6 months from January 11 to July 10, 2011 to enable both parties to finalise the terms and conditions of the new agreement.
The Government had agreed to grant BERNAS an interim period of 6 months from January 11 to July 10, 2011 to enable both parties to finalise the terms and conditions of the new agreement.
About BERNAS
BERNAS was incorporated on 14 April 1994 by the Malaysian Government as part of its effort to corporatise the National Paddy and Rice Board. It was subsequently privatised on 12 January 1996 and listed on the Main Board of the Kuala Lumpur Stock Exchange on 25 August 1997.
The company's major shareholder is Tradewinds (M) Bhd which owns nearly 73% of the shares. On 3 November 2009, Tradewinds completed the acquisition of a 31.52% stake in BERNAS from Wang Tak Company Limited (In one time it was a controversial issue in where the Government allowed a foreign company to buy a big stake in a strategic local company, i.e BERNAS). It completed the purchase of another 22.24% stake from Gandingan Bersepadu Sdn Bhd on 20 January 2010.
As the nation's partner in the domestic paddy and rice industry, BERNAS and its group of companies are involved in the procurement and processing of paddy; as well as the importation, warehousing, distribution and marketing of rice in Malaysia. BERNAS currently controls about 24% of the paddy market and 45% of the local rice demand.
The company's major shareholder is Tradewinds (M) Bhd which owns nearly 73% of the shares. On 3 November 2009, Tradewinds completed the acquisition of a 31.52% stake in BERNAS from Wang Tak Company Limited (In one time it was a controversial issue in where the Government allowed a foreign company to buy a big stake in a strategic local company, i.e BERNAS). It completed the purchase of another 22.24% stake from Gandingan Bersepadu Sdn Bhd on 20 January 2010.
As the nation's partner in the domestic paddy and rice industry, BERNAS and its group of companies are involved in the procurement and processing of paddy; as well as the importation, warehousing, distribution and marketing of rice in Malaysia. BERNAS currently controls about 24% of the paddy market and 45% of the local rice demand.
Not much information on the financial position of the company, since the last annual report published in the company's website, was for 2008.
About National Rice Policy
The Malaysian policy on rice supply is that 70% is grown locally, while the remaining 30% is imported. In 2010, the majority of Malaysia's imported rice was sourced from Vietnam and Thailand.
More and more paddy lands especially in Kedah and Perlis are converted into housing estates and the productivity of paddy per hectare has not much improved over the years, the policy of 70:30 will be on paper only.
Rice is a survival issue for the nation, but not much actions has been taken to resolve it. We are waiting a revised National Agricultural Policy where the 3rd National Agriculture was expired in 2010.
About National Rice Policy
The Malaysian policy on rice supply is that 70% is grown locally, while the remaining 30% is imported. In 2010, the majority of Malaysia's imported rice was sourced from Vietnam and Thailand.
More and more paddy lands especially in Kedah and Perlis are converted into housing estates and the productivity of paddy per hectare has not much improved over the years, the policy of 70:30 will be on paper only.
Rice is a survival issue for the nation, but not much actions has been taken to resolve it. We are waiting a revised National Agricultural Policy where the 3rd National Agriculture was expired in 2010.
Abd Rahaman Rasid
FELDA
No comments:
Post a Comment