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Thursday, February 9, 2023
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Thursday, February 9, 2023
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    Oman company’s investment boosts ties with Brunei

    Wani Roslan

    Oman Brunei Investment Company (OBIC) acquired 50 per cent share of Golden Corporation Sdn Bhd (GC). The agreement signing ceremony was held at the premises of the Embassy of the Sultanate of Oman in Brunei Darussalam yesterday.

    Chief Executive Officer of OBIC Fathi Al Balushi and Managing Director of GC Richard Chuang His Shan signed the agreement.

    Minister of Primary Resources and Tourism Dato Seri Setia Awang Haji Ali bin Apong, Ambassador of the Sultanate of Oman to Brunei Darussalam Sheikh Ahmed bin Hashel bin Rashed bin Hashel Al Maskari and Acting Managing Director of BIA and Chairman of OBIC Sofian bin Md Jani witnessed the ceremony.

    Sofian said, “I would like to take this opportunity to congratulate both OBIC and GC on the finalisation of this agreement which will benefit both parties and further strengthen the already flourishing cooperation between the Government of His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam and the Government of the Sultanate of Oman in the field of investment and other related fields. We are delighted to finalise this deal with GC which shows OBIC’s ability to diversify, expand and generate new sources of long-term income, while also promoting Oman and Brunei Darussalam as attractive investment destinations. We look forward to the agreement with GC being the first of many OBIC promising investment projects to take place in Brunei Darussalam.”

    Commenting on the signing of the agreement, Fathi Al Balushi said, “We in OBIC are excited about acquiring 50 per cent share of GC which is a pioneer in the development of Brunei’s aquaculture industry. OBIC’s focus is on acquiring strategic stakes in new projects and existing companies through direct participation and joint venture investments which cater to building a diversified portfolio across vital sectors of the economy and industries.

    Minister of Primary Resources and Tourism Dato Seri Setia Awang Haji Ali bin Haji Apong, Ambassador of the Sultanate of Oman to Brunei Darussalam Sheikh Ahmed bin Hashel bin Rashed bin Hashel Al Maskari witness the agreement signing. PHOTO: BAHYIAH BAKIR

    “We are pleased that our agreement with GC has resulted in OBIC’s first investment in Brunei. This is also a new milestone for the company since it is our first investment in the food and beverages sector.”

    He said that OBIC management’s aspiration is to invest more in Brunei and identify suitable investment opportunities that align with the fund’s strategy. “OBIC also intends to explore new sectors and market segments in both countries with education, agriculture, food and service identified as the target,” he said.

    Richard Chuang said, “We are pleased with the new partnership with OBIC and we hope our joint cooperation will further ensure that GC remains focussed and fully committed to the pursuit of excellence, especially after the company has been awarded local and international standard certificates such as ISO22000:2005, HACCP, Organic certification, British Retail Consortium Certificates, International Featured Standard (IFS) Certification and Brunei Halal certification among others”.

    The signing ceremony concluded with a group photo.

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