Launched in 2002, Texchem’s Food Division is building on existing strengths to accelerate our global expansion.

The Division started business in an area with which it was already familiar: marine products. We already had two companies involved in seafood-related operations: the Sushi King restaurant chain and Seapack Food Sdn Bhd. Seapack Food produces and markets surimi-based products (such as crab claws, crab sticks, crab flakes, lobster tail, scallops and prawn tail). We are now widening its product range and market base to include surimi (a high quality minced fish meat product) and fishmeal (a high protein animal feed ingredient).

In 2003, we entered into a joint venture with Mascot Industries Co Ltd in Myanmar to establish A.S.K. Andaman Ltd (ASK). ASK manufactures and markets surimi and fishmeal products, and provides Seapack Food with a reliable supply of reasonably priced, good quality surimi raw material.

In the same year, we acquired the Sea Master Group, a seafood-processing specialist whose product range includes quality frozen marine products such as squid, cuttlefish, octopus, shrimps, prawns, jellyfish, spanner and soft shell crabs, fish as well as dried marine products. Sea Master’s seafood processing activities complement the Group’s existing food operations, and will laterally expand our presence in the marine products industry.

The prospects for the Food Division are excellent. The industry is relatively recession-proof, and worldwide demand is fast rising. By 2010 we plan to invest up to RM100 million in the Division. We have the know-how, the experience and the resources to take our food business regional, if not global.