2nd JV today6 Jul 2020 10:33
Hyrax Holdings Limited
Separately, Sealand also today announces the formation of a second joint venture company, Hyrax, together with Famous Biotech Co. Limited. Sealand holds 40% of the issued share capital in Hyrax, which is registered in Hong Kong, and is the sole distributor of cod fish maw products in China, Hong Kong and Macau. These products are distributed into the food and cosmetic industries.
Cod fish maw is a source of collagen, proteins, and nutrients. The collagen in the maw provides a wide variety of skin benefits, such as helping to improve tone and tissue health. Furthermore, in China, fish maw is considered a traditional delicacy representing fortune and health. The cod fish maw is imported by Hyrax from Denmark and undergoes processing in Hong Kong.
Instant fish maw is a growing emerging market in China and Hong Kong, starting from late 2018, and further sales growth in the market are expected in 2020 to 2021.
The imported cod fish maw is internationally certified. Global certifications of the maw include sustainable fish licenses from the Marine Stewardship Council, the maw is STC tested and is provided with certificate of origin and export licenses from Denmark. The product also complies with the relevant SGS Global Food Inspection Standards.