Hong Kong firm to invest in Malaysian agriculture

KUALA LUMPUR: Hong Kong-based private equity firm AFC (Hong Kong) Investments Ltd plans to invest between US$10 million (RM41.8 million) and US$20 million in start-ups as well as medium and large agriculture-related Malaysian companies including in food processing and farming.
Its CEO Steven Fong said the investments are being made in tandem with the growing Chinese population and demand for food.
“This is one of our initiatives to not only make capital injections, but also help businesses export to China,” he told reporters after an introductory briefing by AFC to Malaysian companies here yesterday.
AFC, established by the republic’s Chinese Academy of Agricultural Sciences with assets worth over US$175 million, currently manages assets worth over 8 billion yuan globally with over 70 successful investments in 30 companies.
Fong said AFC also is looking at investing in the Singaporean market. – Bernama