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.


Saudi POS spending rises 4.5% to $3.8bn in late February: SAMA 

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Saudi POS spending rises 4.5% to $3.8bn in late February: SAMA 

RIYADH: Saudi Arabia’s point-of-sale spending rose 4.5 percent to SR14.5 billion ($3.8 billion) in the week ending Feb. 28, even as the number of transactions declined.

According to the latest data from the Saudi Central Bank, also known as SAMA, the total number of transactions fell 4.6 percent to 210.53 million during the period.

Freight transport and postal services recorded the largest jump, surging 50.4 percent to SR121.35 million. Apparel and clothing followed with a 44.2 percent gain to SR1.9 billion. 

Personal care transactions grew 21.7 percent, while books and stationery advanced 8.3 percent. Hotel receipts also increased 11.1 percent to SR376.26 million. 

Pharmacies and medical supplies registered a 23.5 percent rise to SR254.51 million, while medical services edged up 10.2 percent to SR531.56 million. 

Food and beverage purchases declined 11.4 percent to SR2.33 billion, though the segment still accounted for the largest share of POS activity. Restaurants and cafes followed with a 1.8 percent drop to SR1.22 billion. 

The Kingdom’s key urban centers reflected the broader trend. Riyadh, which accounted for the largest share of POS activity, recorded a 2.5 percent increase to SR4.86 billion, compared with SR4.75 billion the previous week. Transactions in the capital totaled 65.7 million, down 5.9 percent week on week. 

In Jeddah, transaction values climbed 5.6 percent to SR2 billion, while Dammam posted a 1.6 percent uptick to SR689 million. 

Weekly POS figures tracked by SAMA offer insight into consumer behavior and the continued expansion of digital payments across Saudi Arabia. 

The data also highlights the expanding reach of POS infrastructure, extending beyond major retail hubs to smaller cities and service sectors, supporting broader digital inclusion initiatives.  

The growth of digital payment technologies aligns with Saudi Arabia’s Vision 2030 objectives, promoting electronic transactions and contributing to the Kingdom’s broader digital economy.