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Agrobank Finances New Building For National Farmer’s Association – the 3-storey Building To Be A One Stop Center For Farmers

KUALA LUMPUR– National Farmers Organisation of Malaysia (NAFAS) and Agrobank today signed an agreement to part finance the purchase of a new building in Kota Damansara as part of expansion and development plan for NAFAS.

With the agreement, NAFAS will receive RM58 million financing from Agrobank to purchase a 3-storey building in Kota Damansara, with a build-up of 204,000 sq feet and land area of 146,000 sq feet. The building will be developed as the Collection Centre and Distribution Centre(CCDC) and agro market on the ground floor. The building will also house a training academy and serve as new headquarters for NAFAS and all its subsidiaries.

The agreement was signed by YB Dato’ Seri Haji Saipolbahari bin Haji Suib, Chairman of NAFAS on behalf of NAFAS and YH Dato’ Wan Mohd Fadzmi Wan Othman, President/CEO of Agrobank. The agreement signing ceremony was witnessed by YB Dato’ Sri Ismail Sabri bin Yaakob, Minister of Agriculture and Agri-Based Industry Malaysia (MOA).
In his speech, YB Dato’ Sri Ismail Sabri bin Yaakob highlighted that the initiative ’Jihad Memerangi Orang Tengah’(JMOT) aims to ensure that the rights of farmers, breeders and fishermen are intact without manipulation and control of “middleman”. ”In order to ensure the success of JMOT, MOA has taken the initiative to empower the Farmers Organisation by restructuring their functions and roles to take on the role of “middleman”.

“I am proud that NAFAS has responded to the government’s call to take the initiative to develop a Collection Centre and Distribution Centre (CCDC) and agromarket at this new building. This is a significant step in the right direction to take on the roles as middlemen and utilise the strong network of the Farmers Organisation at regional and state level with a total numbers of 850,000 members,” said YB Dato’ Sri Ismail Sabri further.

YB Dato’ Sri Ismail Sabri also commended the collaboration between NAFAS and Agrobank and hope that such collaboration continues at regional and state level.

Chairman of NAFAS, YB Dato’ Seri Haji Saipolbahari said, “The purchase of this new building marks another milestone for NAFAS as part of the transformation masterplan for farmers’ organisations in Malaysia. This new building marks our plan for NAFAS to be a corporate and commercial entity that continue to be the main catalyst to drive the movement of farmers’ organisations nationwide.
The plan is for the premise to be developed as the main Collection Centre and Distribution Centre and houses an agromarket that will serves as main platform for farmers to market their products directly to customers. The plan is in line with the objectives to increase income and productivity for farmers and reduce dependency on middlemen.”

President/CEO of Agrobank said, “Agrobank is happy to be supporting NAFAS in this new venture and development plan. Working with NAFAS is a natural progression for us as both organisations shared a mutual and common focus towards the development of agriculture sector in Malaysia.
“For over 45 years, Agrobank has played an instrumental and significant role in providing financing for the agriculture sector in Malaysia. For agriculture financing segments, Agrobank has contributed 10.2%, which covers RM 3.6 billion of the overall RM 31.7 billion of agriculture financing market in 2013.
Dato’ Wan Mohd Fadzmi also said, “As a bank that understands agriculture better, Agrobank provides a comprehensive financing solution for agriculture that includes upstream and downstream agriculture activities. In the case of NAFAS, the plan has a strong link to agriculture development. For Agrobank, we will support and finance viable business and projects related to agriculture sector.”

At the event, NAFAS and Agrobank also announced future collaboration to work together on financing for contract farming, feed mills, palm oil plantations, trade finances and also Agrobank agent banking.

More than 500 guests attended the ceremony including, YBhg. Dato’ Mohd Arif bin Ab Rahman, Secretary General of MOA, Dato’ Ab Rahman bin Ismail, General Manager of NAFAS, Board of Directors of Agrobank and NAFAS, and more.

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