KUALA LUMPUR: Smart farming solutions provider AgroStream Sdn Bhd is currently in talks with TM One, the business-to-business arm of Telekom Malaysia Bhd, on rebranding its smart farming system.
Chief technology officer Muhamad Shawal S Kamar said the company's smart farming solutions would reach new heights with TM One, providing a holistic product offering to domestic large-scale and smallholder farmers.
"Our engagement with TM One is ongoing, and we are quite positive about the progress.
"The rebranding will propel AgroStream's product offering and capabilities that can be beneficial to all farmers in Malaysia who are keen on switching from conventional to smart farming," he told The New Straits Times.
Apart from TM One, Muhamad Shawal said AgroStream is also in talks with the Negri Sembilan Department of Environment to use the company's smart farming solutions in the state.
"We are continuously working to improve and enhance our smart farming solutions.
"Besides our adaptive AI Farm assistant, we are exploring and investing in several new technologies to enhance our offerings further.
"We are also exploring using blockchain technology to improve traceability and transparency in the food supply chain.
"By using blockchain, we can ensure that food products are tracked from farm to table, providing consumers with greater confidence in the safety and quality of their food," Muhamad Shawal said.
He said AgroStream's close collaboration with farmers and other stakeholders helps the company develop and deploy technology that meets their needs and delivers real value, improving their bottom line and promoting sustainable farming practices.
AgroStream chief executive officer Badar Ali said the adoption of smart farming technology in Malaysia is set to grow significantly in the next five years, driven by increasing demand for sustainable agriculture, advancements in the Internet of Things (IoT), and artificial intelligence (AI).
Further, the government's support and funding, increasing awareness and adoption of precision agriculture, and the need for resilience in the face of climate change also contribute to the rapid adoption of smart farming.
"I strongly believe that the smart farming technology industry has enormous potential for growth in the coming years.
"As the demand for sustainable agriculture practices continues to rise, there is a growing need for innovative solutions that can help farmers optimise their operations and reduce waste. AgroStream is poised to play a key role in this industry," he said.
He said that as AgroStream looks to expand its business, it plans to move beyond being a smart farming technology provider and venture directly into the farming sector.
"Our aim is to open more than five farms by next year. However, we anticipate several challenges we need to address," he said.
He said the challenges mainly relate to significant capital investment, including land, infrastructure, equipment, and other resources.
Another challenge is the need for expertise in agriculture, including knowledge of soil management, crop selection, irrigation, and pest control.
"We plan to overcome these challenges by hiring or partnering with individuals with expertise in these areas to ensure the farm's success," Badar said.
He said additionally, running a farm requires a diverse workforce, including both skilled and unskilled workers.
Also, since agriculture heavily depends on climate and weather conditions and adverse weather events such as droughts or floods, AgroStream anticipates this can significantly impact crop yields and profitability.
"However, despite these challenges, we see great opportunities in starting our own farms.
"Overall, these challenges present significant opportunities for innovation and growth in the smart farming industry.
"By addressing these challenges, we hope to drive adoption and promote sustainable farming practices for a better future.
"And, by carefully assessing the risks and challenges and developing a comprehensive plan of our own, we believe that we can successfully enter the agriculture market and leverage our expertise in smart farming technology to improve efficiency and profitability," Badar said.
Badar said AgroStream offers flexible pricing models, including subscription-based pricing models and financing options, to ensure that farmers can access our technology at a lower cost.
"Additionally, we collaborate with government agencies, agricultural associations, and other stakeholders to promote the adoption of smart farming technology among small-scale farmers and those in rural areas," he said.
AgroStream basic solution costs RM18,000, and additional sensory equipment costs RM6,000.
"We are inviting investments from individuals, organisations, and venture capitalists who share our vision of making smart farming technology accessible and affordable to farmers of all sizes and in all regions.
"Our technology has the potential to generate a strong return on investment for investors, with return on investment (ROI) ranging from 15 per cent to 30 per cent annually," Badar said.
He said AgroStream is confident that its smart farming technology can help farmers increase their yields, reduce their costs, and improve their profitability, ultimately leading to higher returns for investors.