Zahid chairs Malaysia-Indonesia halal industry collaboration roundtable
JAKARTA: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi today chaired the Malaysia-Indonesia Halal Industry Collaboration Roundtable, a strategic platform highlighting both nations' shared commitment to regional cooperation and inclusive growth within the global halal economy.
The discussions focused on tackling trade-related challenges, exploring investment opportunities, and promoting joint ventures between Malaysian and Indonesian businesses.
The roundtable also aimed to bolster Asean-wide halal cooperation, positioning the region to tap into the projected US$5 trillion global halal market by 2030.
.
"The session emphasised actionable strategies to sustain and grow bilateral trade flows while capitalising on each country's comparative advantages," he said in a statement today.
Zahid said that both nations would drive inclusive growth and create complementary value for the respective halal economies by aligning Malaysia's Halal Industry Master Plan 2030 (HIMP 2030) and Indonesia's halal economy roadmap.
The roundtable, organised by the Halal Development Corporation Bhd (HDC), an agency under the Investment, Trade and Industry Ministry (Miti), continues its mission to strengthen Malaysia's footprint in the halal industry.
The roundtable also emphasised Malaysia's globally recognised halal ecosystem and its crucial role as Asean chair in 2025, while bringing together key stakeholders from Malaysia and Indonesia.
"Malaysia is advancing a cooperative halal agenda that balances economic opportunity with values-based trade, showing the region's growing influence in shaping the global halal landscape," he said.
Zahid said that Malaysia and Indonesia shared a long-standing partnership in the halal sector, steered by mutual objectives to complement standards and enhance trade flows.
In June 2023, the Department of Islamic Development Malaysia (Jakim) and Indonesia's Badan Penyelenggara Jaminan Produk Halal (BPJPH) signed a cooperation agreement on mutual recognition of halal certificates.
The agreement has streamlined market access by eliminating redundant certification processes, simplifying cross-border trade for certified products in both countries.
Trade figures underscore the significance of Malaysia-Indonesia economic ties in the halal industry, with Malaysia exporting RM7.77 billion worth of halal-certified products to Indonesia between 2021 and 2023.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Free Malaysia Today
22 minutes ago
- Free Malaysia Today
Tune Protect and Sunway XFarms launch the ‘Grow & Give' initiative
Tune Protect volunteers kick off the 'Grow & Give' initiative, a strategic programme blending employee development with environmental and community impact. (Tune Protect pic) PETALING JAYA : Tune Protect Group Berhad has partnered with Sunway XFarms to launch the 'Grow & Give' initiative, a strategic programme that combines employee development with meaningful environmental and community impact. In this programme, employees gain hands-on experience in sustainable agriculture through hydroponic farming and contribute to the establishment of a community farm to promote food self-sufficiency among low-income communities. The 'Grow & Give' programme involving 240 Tune Protect volunteers, consists of four sessions, the first held in May, in which volunteers help support the Petaling Jaya-based Medan Jaya community, home to over 4,000 residents, many of whom face limited access to fresh and nutritious food. The initiative began with hands-on training at Sunway XFarms, where employees gained practical experience in urban farming, harvesting pesticide-free vegetables, and packing them for distribution to local beneficiaries. Utilising smart hydroponic farming technology, community farming is remarkably easy to maintain and uses up to 90% less water compared to traditional farming methods. The solar-powered system efficiently circulates water, providing crops with optimal hydration and nutrients, while offering residents an accessible and sustainable way to grow their own food long-term. This modern farming technique ensures consistent yields with minimal environmental impact. Koot Chiew Ling, chief strategy officer and chair of the Sustainability Committee Tune Protect Group said: 'We remain deeply attuned to the social disparities and environmental challenges shaping our world today. 'Through this initiative, we are not only raising awareness but taking meaningful action by delivering practical, ground level solutions in areas such as clean energy, water efficiency, food security, and waste reduction.' She said she hoped the initiative would inspire a ripple effect of positive change, one community, one farm, and one volunteer at a time, that supported both people and the planet for generations to come. Yuvasreetharan Muregesun, chief operations officer of Tune Protect (centre), with Norlizah Jaaman (left), secretary of the Medan Jaya Residents' Association, and Eleanor Choong (right), COO of Sunway XFarms. (Tune Protect pic) Driven by the sustainability vision 'In Tune for a Better Tomorrow', Tune Protect is committed to building a more resilient and sustainable future, targeting 6,000 volunteer hours from 2025 to 2027 with a focus on conservation and sustainability initiatives. The company is expected to achieve 1,200 volunteer hours upon the completion of the four sessions of the 'Grow & Give' programme this year, with the next three sessions to be held in July, September and November. The community farm is projected to yield over 240kg of fresh produce annually, providing residents with more than eight varieties of essential vegetables. The farm has prevented over 1,500 sq ft of deforestation, besides reducing three tonnes of carbon emissions, saving 56 tonnes of water, and avoiding 960 pieces of plastic from being used. Eleanor Choong, COO of Sunway XFarms, expressed her enthusiasm for the collaboration. 'We are pleased to be able to build this community farm alongside Tune Protect, and we are excited to see the fruits of the residents' labour,' she said. Through this initiative, Tune Protect distributed 50 bags of fresh vegetables. Staff also led a clean-up drive in communal areas, collecting over 170 kilograms of recyclable waste, including paper, metal scraps, plastic, glass, and electronic waste. Norlizah Jaaman, secretary of the Medan Jaya Residents' Association said: 'Tune Protect and Sunway XFarms' contributions have empowered our community's economy, raising awareness on sustainable agriculture and recycling practices among the residents.' Tune Protect's collaboration with Sunway XFarms has shown how innovative partnerships can bring about significant change beyond the boardroom. The 'Grow & Give' initiative has shown how with every harvest and act of kindness, a more inclusive, empowered, and sustainable tomorrow comes into view. For more information on Tune Protect, visit their website. For more information on Sunway Xfarms, visit their website.
The Star
37 minutes ago
- The Star
ITMAX new AI growth pillar a positive for company
PETALING JAYA: ITMax System Bhd 's latest artificial intelligence (AI) initiative, the 'Digital Twin' project, could generate a potential revenue of RM15mil to RM20mil per year. The 'Digital Twin' project involves the creation of a virtual 3D replica of Kuala Lumpur complete with buildings, road infrastructure and even slope analysis. This new growth pillar leverages ITMAX's data collection strengths, said Maybank Investment Bank Research (Maybank IB). The project will enable real-time simulation by authorities to enhance urban planning efficiency and is expected to be completed in December 2025, with monetisation targeted for financial year 2026 (FY26). After its meeting with ITMAX, Maybank IB came away feeling positive on the prospects of its core CCTV offering and its latest AI-enabled growth pillar. The research house maintains its FY25-FY27 earnings forecast. It retains its 'buy' rating on the stock with a target price of RM4.50. The shares closed at RM3.71 at the time of writing. The risk factors cited include the loss of subsisting contracts with the Kuala Lumpur City Hall (DBKL) to another competitor. It also includes higher-than-expected cost drag related to its expansionary initiatives, and a significant reduction in DBKL's operating budget that may impede continuity of existing contracts, as well as potential variation orders. However, ITMAX remains the research house's top Malaysian software pick for its robust growth offering and leading position as Malaysia's go-to smart city player. Having thus far secured contracts for 1,640 CCTVs across four Greater Johor Baru (GJB) districts, Maybank IB understands that Johor has adopted a single supplier policy for its smart city infra. This implies a 'when' rather than 'if' scenario for ITMAX securing CCTV contracts for the remaining 12 districts in the state. ITMAX is already in active discussions with Pengerang, Batu Pahat and Muar. The four GJB districts are also looking to increase CCTV installations ahead of a ramp-up in the Johor-Singapore Special Economic Zone economic activity. Maybank IB currently imputes a modest 2,000 CCTVs in Johor in FY25/FY26, but based on its sensitivity analysis, every additional 1,000 CCTV units installed in Johor could uplift ITMAX's core earnings by about 2.4% to 3.6% for FY25-FY27. Outside Johor, ITMAX'S CCTV prospects appear equally bright. DBKL has mandated for Kuala Lumpur to have 20,000 CCTVs by end-2028, implying a minimum 10,000 additional CCTVs over the next three years, which has been included in its forecasts.
The Star
37 minutes ago
- The Star
Cuckoo International cuts IPO price
SINGAPORE: Household goods maker Cuckoo International has reduced its Malaysian initial public offering (IPO) price by 16.3% to RM1.08 a share from RM1.29, a stock exchange filing showed yesterday. That would reduce the size of its IPO to about RM394mil from around RM471mil. Cuckoo International in April postponed the listing by two months citing global market volatility. The IPO, initially planned for April 30, is scheduled for completion by June 24. Cuckoo International is 62.5% owned by South Korea-listed Cuckoo Homesys, its IPO prospectus showed. In its draft prospectus, the company said it intends to allocate a significant portion of its IPO proceeds to fund product purchases for the expansion of its rental business. 'The growth of our rental business is dependent on the availability of cash flows to fund our purchase of products and pay our commissions.' — Agencies
