With rice and biryani, Malaysia aims for halal Olympic gold

Malaysia is the only country to have reached a halal cooperation deal with Tokyo for the Games. (Reuters)
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Updated 17 February 2020
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With rice and biryani, Malaysia aims for halal Olympic gold

  • The value of the global halal market is projected to reach $2.6 trillion by 2023, nearly double 2017 levels

KUALA LUMPUR: A small factory in Malaysia’s capital is preparing thousands of ready-to-eat halal meals, from fried rice to chicken biryani, to be shipped off to Japan for 2020’s biggest sporting event.

Food firms from Muslim-majority Malaysia, are expected to be big winners from a rush of Muslim travelers to Japan for the Olympics and Paralympic Games, from late July to September.

“It’s a huge platform and opportunity for us,” said Ahmad Husaini Hassan, boss of the MyChef company making the meals in Kuala Lumpur. “Our intention is not to go in and out. We’ve to go in and stay for the long term.”

Malaysia wants to use the Games as a springboard to boost halal exports, which include food and cosmetics, by about a fifth to $12 billion this year. It exported halal goods worth $604 million to Japan in 2018, 90 percent of it food and food ingredients.

Malaysia is the only country to have reached a halal cooperation deal with Tokyo for the Games.

MyChef aims to triple its revenue to 4.5 million ringgit ($1 million) this year. It is in talks with Japanese retailer Aeon to jointly develop a line of ready-to-eat halal meals and snacks, Ahmad Husaini said.

Malaysia’s halal trade has lagged behind non-Muslim nations such as the US, China and Brazil. The value of the global halal market is projected to reach $2.6 trillion by 2023, nearly double 2017 levels, according to Dublin-based data firm Research and Markets.

Malaysia’s government has set an ambitious target of selling as much as $300 million worth of halal food and products to Muslims and non-Muslims around the Games.

It has secured space on the sidelines to host a “Malaysia Street 2020” promotion, which will offer opportunities to sell food and for firms to meet Japanese buyers and distributors.

“We have a lot to learn from Malaysian authorities and in return, Malaysian companies have more chances to expand their business,” said Hideto Nakajima, economic counsellor at the Japanese embassy in Malaysia.

The number of tourists to Japan from Southeast Asia, the region with the world’s biggest Muslim population, has jumped in recent years thanks to relaxed visa rules.

As Japan looks to draw a record 40 million tourists this year, Malaysia estimates 8 million of them will be Muslim.

For HQC Commerce, among four firms chosen to lead Malaysia’s halal push in Japan, the Olympics is a “stepping stone” for bigger things.

“We know that during the Olympics the demand will be highest, so this is the time for us to promote Malaysian products,” said CEO Khairul Shahril Hamzah.


Closing Bell: Saudi main market closes the week in red at 10,526 

Updated 25 December 2025
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Closing Bell: Saudi main market closes the week in red at 10,526 

RIYADH: Saudi equities ended Thursday’s session modestly lower, with the Tadawul All Share Index slipping 14.63 points, or 0.14 percent, to close at 10,526.09.    

The MSCI Tadawul 30 Index also declined 3.66 points, or 0.26 percent, to 1,389.66. In contrast, the parallel market outperformed, as Nomu jumped 237.72 points, or 1.02 percent, to close at 23,430.93.  

Market breadth on the main market remained tilted to the downside, with 156 stocks ending lower against 99 gainers.    

Trading activity eased further, with volumes reaching 80.46 million shares and total traded value amounting to SR1.66 billion ($442 million).    

On the movers’ board, Saudi Industrial Export Co. led the gainers, rising 6.6 percent to SR2.10, followed by Consolidated Grunenfelder Saady Holding Co., which advanced 6.43 percent to SR9.60.    

Raoom Trading Co. climbed 4.36 percent to SR61.05, while Astra Industrial Group gained 4.35 percent to close at SR139. Riyadh Cables Group Co. added 3.77 percent to end the session at SR135.00.    

On the downside, Methanol Chemicals Co. topped the losers’ list, falling 5.96 percent to SR7.41.  

Flynas Co. retreated 5.43 percent to SR61.00, while Leejam Sports Co. dropped 5 percent to close at SR100.80.    

Alramz Real Estate Co. slipped 4.64 percent to SR55.50, and Almasane Alkobra Mining Co. declined 4.55 percent to SR84.00.  

On the announcement front, ACWA Power said it has completed the financial close for the Ras Mohaisen First Water Desalination Co., a reverse osmosis desalination project with a capacity of up to 300,000 cubic meters per day, alongside associated potable water storage facilities totaling 600,000 cubic meters in Saudi Arabia’s Western Province.    

The project was financed through a consortium of local and international banks, with total funding of SR2.07 billion and a tenor of up to 29.5 years, while ACWA Power holds an effective 45 percent equity stake.  

Shares of ACWA Power ended the session at SR185.90, up SR0.2, or 0.11 percent.     

Meanwhile, Consolidated Grunenfelder Saady Holding Co. announced the sign-off of a customized solutions project with Saudi Aramco Nabors Drilling Co., valued at SR166.0 million excluding VAT.    

The 24-month contract covers the sale and maintenance of field camp facilities, with the financial impact expected to begin from the first quarter of 2026.