LAST_UPDATEMon, 25 Jun 2018 6pm

PME Teams Up With Chinese Company To Build Over 100 Modern Sea Fishing Vessels Worth US$100 Mln

KUALA PERLIS –  Perlis Marine Engineering Sdn Bhd (PME) targets to build over 100 modern sea fishing vessels worth about US$100 million (US$1 = RM4.21) in five years in partnership with Chinese company, LuHaiFeng Holding (M) Sdn Bhd (LHF).

PME’s General Manager, Captain Ahmad Azamri Muhamad Nor, said the joint-venture was sealed following the signing of a memorandum of understanding (MOU) signed at the company’s wharf here yesterday.

Ahmad Azamri signed for PME and LHF Executive Director, Ben Lee, represented the Chinese company.

Under the agreement, PME will provide facilities at its dock along the Perlis River and LHF will be responsible for bringing in the ship components from its parent company in Qingdao, China, to be installed in PME and to sell and help to secure loans for buyers,” Ahmad Azamri said.

Ahmad Azamri said this to reporters after the ceremony to sign the MOU here last night.

He said fishing vessels, measuring between 22 and 25 metres in length, would be made of stainless steel or fibreglass and were designed to catch different fish and cost not less than RM2 million each.

"This MOU is also in line with the government's agenda to transform deep-sea fishing activities using high-technology ships such as those in the developed countries,” he said.

Meanwhile, Lee said, the MOU included technology transfer and initially experts from Qingdao Luhaifeng Foods Ltd (QDLHF), the parent company of LHF, would be stationed at PME to assist in the installation of the vessels that had been ordered. So far the company has received six orders, he said.  PME is a subsidiary of the Perlis State Economic Development Corp (PKENPs) and LHF is owned by QDLHF group of companies. It is located in Qingdao Economic and Technological Development Zone, China and has a deep wharf.