Labuan Food Industries Makes Waves As Seafood Exporter, Seeks To Almost Triple Output
By Jailani Hasan
LABUAN, April 8 (Bernama) -- Labuan Food Industries Sdn Bhd, a Malaysian fishery company with an established international business network, plans to nearly triple its annual finished tuna production next year with the setting up of a new facility here.
Chief executive officer Lee Wei Sheng said the Labuan-based company currently exports around 140 containers of finished tuna products annually.
“With the completion of a new facility (this year), the company aims to increase its output to 400 containers by 2026.
“The expansion is further supported by its deep-sea fishing operations in the Indian and Pacific Oceans, which could boost production tenfold for the international market,” he told Bernama in an interview.
Lee said the company has successfully penetrated the largest markets for seafood, Europe and United States, over the past 28 years, exporting a wide variety of tuna-based and other seafood products.
Among Labuan Food Industries’ proudest achievements is becoming Malaysia’s sole exporter of sashimi-grade tuna and the largest tuna buyer in Sabah.
“Our vision is to position Malaysia as a globally recognised player in the high-value tuna market, capturing a greater share of the RM200 billion global market,” Lee said.
He said beyond tuna, the company also exports other seafood products each year, including 20 containers of mahi-mahi, 30 containers of sardines, 20 containers of octopuses, and 10 containers of squids.
Major export destinations include Europe, the United States, South America, Singapore, Australia, Brunei and China.
Lee said that Labuan and Sabah’s strategic location in one of Malaysia’s richest tuna-producing regions inspired the company’s venture into the tuna industry.
He said Sabah leads the country in tuna landings, making it an ideal base for scaling high-quality tuna exports.
“The global tuna market is worth about RM200 billion, with Europe, the US, and Asia consuming over 84 per cent of the world’s tuna. Sashimi-grade tuna is a premium product that requires strict compliance with food safety standards, something we’ve mastered to meet the expectations of top-tier markets,” Lee added.
He said Labuan Food Industries aims to continue playing a key role in modernising and empowering the local fishing community and promoting sustainable fishing practices, as well as placing Malaysia firmly on the international seafood map.
-- BERNAMA