Potential value recovery
Malaysia produces 350 metric tonnes of bird nest annually. Malaysia is expected to turn 50% of this into value added products. However, of the 50% allocated for value added conversion, conventional processing practices typically result 20-25% losses thus resulting in an average of 40,000kg (or RM 400 million/USD$93 million) of bird nest loss each year after processing. Our value added processing (collaboration between Agridon and Professor Salam from National University of Malaysia/UKM) recovers this waste into a high value product worth RM 10,000/USD$ 2,300 per kg bird nest for cosmetic and nutraceutical supplement industries. By combining product formulation innovation from Professor Salam for UKM and Agridon’s process innovation, we have the potential to recover more than 95% of the aforementioned losses (more than 38,000kg product recovery or RM 380 million/USD$ 90 million monetary value recovery) due to the high value nature of the final products.
Potential economic impact
Malaysia’s GDP per capita is RM115,000/USD$ 27,000 while the GDP per capita of developed nation is on average RM 190,000/USD$ 44,000. Our process and technological solution is of value added nature being applied only in Malaysia which in turn is important in turning Malaysia into a developed and high income country; hence we extrapolate that the job creation opportunity as a result from our technological solution for resource recovery and value addition will result in between 2000 to 3300 highly skilled and paid green jobs being added to the country, with a realistic figure of somewhere around 2650 green jobs created. This figure is excluding the wealth creation multiplier effect that would result, for example, further need for marketing, warehousing, logistics, etc.