Star Feedmills (M) Sdn Bhd, a wholly owned subsidiary of Charoen Pokphand Foods Plc. (CPF) has purchased the fixed assets in the Malaysian aquafeed market from its affiliate, Charoen Pokphand Jaya Farm (M) Sdn Bhd, for a reported 1.29 million Malaysian ringgit.

Commenting on the transaction, president and CEO of CPF, Mr Adirek Sripratak, said the company saw great potential in aquaculture in Malaysia.

Adirek also announced plans for expansion in China’s aquaculture sector, with the establishment of CP Aquaculture (Dongfang) Co Ltd. The new company will open a shrimp hatchery early next year.