AL FAIZ FUND 1 BUYS M`SIAN AQUACULTURE FIRMS

KUALA LUMPUR, Jan 19 (Bernama) -- Syariah-compliant private fund, Al Faiz
Fund 1 Ltd, will acquire stakes in Malaysian companies KS Aquaculture Sdn Bhd
and Ikmaju Sdn Bhd.

In a statement here Tuesday, Kuwait Finance House (M) Bhd Group (KFH) said
the investments would mark its first in the local aquaculture industry and its
third third investment in Malaysia.

"The acquisitions are expected to create the largest marine fish breeding,
hatchery and rearing operations in this country," it said.

KFH said once the acquisition was completed, it would expand its market
reach by developing its core marketing and distribution networks.

"This will be complemented with downstream expansion into processing through
organic expansion, acquisition or joint-venture," it said, adding that it would
also expand its capacity to meet the growing demand for marine seafood.

Al Faiz Fund 1 is jointly managed by the licensed fund management
subsidiaries of the KFH-Malaysia and Kuwait-listed Al-Aman KSCC.
-- BERNAMA