Mainboard-listed real estate and agriculture firm Hong Lai Huat Group has inked a non-binding memorandum of understanding (MOU) with Denmark-based farm equipment supplier Skiold.
Both parties intend to collaborate for a proposed Cambodia-Singapore Agriculture Special Economic Zone with an estimated investment value of US$1 billion, said Hong Lai Huat in a bourse filing on Monday evening.
In the next six months, they will focus on the following aspects before signing a binding agreement: initiate the setting up of livestock and seed production in the Special Economic Zone; perform a feasibility study of the proposed new project to produce poultry, cattle and seed production in Cambodia as well as Singapore, to supply and enhance Singapore’s food security; and create more job opportunities for countries in connection with this partnership and the resulting spin-offs.
