Malaysians are consuming lower grade vegetables
Gerard Lim noticed that most of the vegetables sold in local supermarkets and grocers have no best of quality. This is because the top grade vegetables produced locally were mainly exported. In other words, the locals were consuming lower grade vegetables.
Advance Technology could help in planting industry
He introduced smart farming solutions using sensors, the Internet of Things and Big Data to some farmers. But soon he found out that most of the local farmers couldn’t afford the advance technology. Therefore, he had to adopt the technology and build a large commercial scale for better economies of scale.
Lim is targeting to build it in Malaysia this year to make Agroz the largest indoor vertical farm operator in Malaysia.
Lim says that Malaysia does not have policies to support the use of advanced technologies for smart farming.
Although, existing special grants, incentives and loans are given for the use of chemical fertilizers. However, there are any perks to the use of technology in smart farming. This makes it a challenge for the company to access ongoing assistance for the agriculture industry.
In fact, the lack of policy support and guidelines also make it difficult to get funding from financial institutions.
Lim says most banks in Malaysia do not show supportive of indoor vertical farming. This is because they do not understand these new modern, high-tech forms of farming.
Agroz is currently seeking to raise RM100mil through the issuance of shares to fund its expansion.
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