ecoWise moves on from China biomass fiasco to fish feed venture

SINGAPORE (Mar 29): ecoWise Holdings — whose other businesses include a biofuel plant at Gardens by the Bay and a tyre treading business — is planning to go into the fish feed production business via a joint venture.

Wong Joo Wan, chairman of ecoWise’s audit committee, says the company already runs a plant at Sungei Kadut, where it turns dry husk and other ingredients into chicken feed. “We believe fish feed is an area that we can add value, that we can be a serious player,” says Wong.

According to him, total investment for the fish feed business could amount to $10 million, which is almost a quarter of the company’s NAV now. This sum will be invested in phases, and adjustments could be made depending on changing market dynamics over the next three to four years, he adds. “You don’t want to just plonk in and not be sure whether it will take off or not.”

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