CK Life eyes Indonesia
Li Ka-shing's foray into biotechnology - CK Life Sciences International (Holdings) - plans to ship its NutriSmart eco-fertiliser to Indonesia in an attempt to grab a piece of the HK$4 million market there.
Far East Agritech, which was set up in conjunction with Lippo group subsidiary Angraine Muila, will be responsible for marketing and distributing NutriSmart to the Indonesian government and farmers.
NutriSmart, CK Life Science's only commercial product, was launched earlier this year and has won sales in Australia, Thailand and Myanmar. The company said it hoped to leverage Lippo's reputation in Indonesia to gain sales.
'We believe that NutriSmart will be able to establish a leading position in the Indonesian fertiliser market within a short time frame,' CK Life Sciences chief executive Kam Hing-lam said.
Indonesia has 35 million hectares of cultivated agricultural land.
The country's main agricultural products include rice, sugar cane, tea leaves and teak.
CK Life Sciences said Far East Agritech recently started a large research project to find ways to improve sugar cane yields using NutriSmart.