Singapore-listed Qian Hu sets up Timor-Leste subsidiary to tap aquaculture potential
It will invest US$1 million in operational base; US$2 million in seaside hatchery
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[DILI] Ornamental fish and aquarium products company Qian Hu is making its debut in Timor-Leste, a half-island nation home to one of the world’s most biodiverse waters, to get an early foothold in its nascent but promising aquaculture industry.
Incorporated in June, Timor Aquahub International was established to undertake Qian Hu’s aquaculture business in Timor-Leste, including the development of sustainable lobster farming and seafood-processing operations.
Qian Hu owns a majority stake of 55 per cent in Timor Aquahub, while former Timorese secretary of state for electricity, water and urbanisation Januario Pereira has a 25 per cent stake. The remaining 20 per cent is owned by Singaporean Roger Koh, the subsidiary’s managing director and a veteran in Indonesia’s fishery scene.
