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Friday, June 6, 2008

China Islamic Fund

Public Mutual Sells RM1 Billion Of Its First China Islamic Fund

KUALA LUMPUR, Dec 13 (Bernama) -- Unit trust company Public Mutual Bhd has successfully sold about RM1 billion worth of units of its recently launched Public China Ittikal Fund (PCIF) during the offer period which ended December 10.

Its chief executive officer, Yeoh Kim Hong, said demand for PCIF has been overwhelming and the company has increased the fund size to five billion units to cater to the demand.

"The fund received good response as this is the first China Islamic fund in the country that offers investors the opportunity to ride on the solid growth prospects of the greater China region," Yeoh said in a statement here Thursday.

Yeoh said PCIF will invest a minimum of 70 percent of its net asset value (NAV) in the greater China region namely in China, Hong Kong and Taiwan stocks.


Friday, March 14, 2008

Halal Food Dominate Services Indust

MECD Hopes Halal Food Can Dominate Services Indust

The Ministry of Entrepreneur and Cooperative Development (MECD) hopes that Malaysia's halal sector can dominate the services industry, said its secretary-general Datuk Musa Muhamad.

He said for example, the airline industry could use halal products and services.
"It can utilise Malaysian products manufactured by Bumiputeras," he told Bernama here on the sidelines of the Halal World Expo and Forum which ended yesterday.

Musa said that Malaysia was building up the image of local products so that they would be more competitive and expand further in the world halal market, which was now estimated to worth US$2.1 trillion.

"Previously, we were almost dependent on imported products, so we have the policy of import substitution. As such, we have to develop local industries to be at par or competitive to imported products," he said.

Musa also said that when looking at halal products, one has to take into account all halal aspects.

These included the "value chain" like marketing, financing and Islamic trading practices, he said.

Apart from halal food, the three-day exhibition also showcased financial services like Islamic banking and Muslim fashion.

Also exhibited were cosmetic products, which have captured a vast market in the Middle East. It was reported that this market has been growing by 12 percent annually with total value of related sales in the region reaching US$12.1 billion last year.

ABU DHABI, Dec 12 (Bernama)
By Nor Faridah A. Rashid

Sunday, February 24, 2008

Halal Showcase

Over 500 Companies Expected At Halal Showcase

KUALA LUMPUR, Jan 24 (Bernama) -- More than 500 Muslim and non-Muslim companies are expected to take part in the Malaysia International Halal Showcase (MIHAS) 2008 to be held here from May 7 to 11.

Malaysia External Trade Development Corporation (Matrade)'s chief executive officer Datuk Noharuddin Nordin said today that 235 local companies and seven foreign companies from Australia, Brunei, USA, Iran, India, Kazakhstan and Turkey have confirmed their participation.

"We expect 350 local and 150 companies from 30 countries to join this year's showcase," Noharuddin added.

Last year's MIHAS attracted 330 local and 96 foreign companies with total sales of RM683.2 million, he said during a media briefing here today.

This year, sales is expected to be even higher in view of the new sectors joining in the event such as food processing and packaging machinery companies.

Other participating companies include those from food manufacturing, cosmetics and healthcare, pharmaceuticals and herbal products as well as Islamic banking and takaful products.

More people today understand that the halal concept is not limited to food but many other aspects such as manufacturing and packaging, he said.

"It is hoped that this additional sector will attract exhibitors and traders interested in the acquisition of food processing machinery including devices, utensils, storage, displays, serving equipment and packaging materials certified suitable for the manufacturing of halal food," said Noharuddin.

He said the event will be also a good avenue for buyers and sellers in the halal market to establish new business alliances in trade and business. He said there will be 300 buyers from more than 30 countries at the event.

He said halal products and services were also gaining acceptance among non-Muslims and that the global market value for halal consumable and non-consumables products was estimated to touch RM2.1 trillion annually.

Current global market value for Islamic financing, takaful and other services is also on the rise and it is estimated to touch US$1 trillion.

MIHAS 2008 is expected to attract 40,000 visitors.


Tuesday, February 5, 2008

Global Halal Standards

Abu dhabi turns spotlight on need for global halal standards

Major players from the US$2.1 trillion a year Halal industry assemble in Abu Dhabi tomorrow (Sunday) for an event which can assist moves to establish global standards covering all Halal products.

Taking place at the Abu Dhabi National Exhibition Centre over the next three days, Halal World Expo is providing a platform for debate over a range of key issues which will shape the future of the burgeoning Halal industry.

It is often taken for granted that processed food and products available in supermarkets of Islamic countries like the UAE are fully Halal compliant, unless stated as being for ‘non Muslim’ consumption or use.

While there are currently systems in place to protect the consumer in the UAE, the fast growth pattern that is currently being experienced in the Halal consumer market means there is a growing demand for globalised standards across all Halal products.
The issue will be high on the agenda of Halal World Expo as government agencies from countries such as Malaysia and Brunei, which have already formed regulatory bodies to verify Halal products for consumers, come face to face in Abu Dhabi with Middle East and overseas producers.

Leading brand names such as Nestle, and Tahira foods, are taking their place in an international exhibitor line-up which includes producers from the UK, the USA, Pakistan, Croatia and Germany, as well as the Gulf region.
“The industry needs more progressive events like this to raise awareness of Halal products,” said Brian D’Cruz, Operations Manager of Khazan, one of the Gulf’s leading producers of Halal meat products, who believes Halal World Expo has arrived at the right time.

“We need shows like this to bring the industry together to seek the most effective ways of developing it for the benefit of the growing worldwide Muslim population.”
“The growth of the global Muslim community and the spread of Muslims across the US, Europe and so many other parts of the world means there is a huge demand for Halal products, and with this comes the need for global standardization.”
Added D’Cruz: “This is not easy, and it’s not going to happen in one step. We have to look at branding and packaging, establish the right price frame. And we need to build awareness and educate people that Halal food products are not just for Muslims.”

D’Cruz said Khazan, the Kuwaiti-owned company which opened its second meat factory in Sharjah earlier this year, will be using Halal World Expo to meet trade visitors from Kenya, Tanzania and South Africa with a view to opening new markets there with the help of distributors.

Among the official delegations exhibiting at the show are Brunei’s Ministry of Industry and Primary Resources, the Malaysian Ministry of Entrepreneur and Cooperative Development, the Croatian Chamber of Economy, the South African Chamber of Commerce, the Indonesian Ministry of Industry and the Bosnian Agency for Halal Quality Certification.

As the Middle East positions itself as one of the premier users of quality Halal products with its dense concentration of Muslim consumers, there is huge potential for the Halal industry to produce and distribute high quality, regulation certified Halal products throughout the region and the world.

Halal World Expo is providing the gateway into this relatively untapped market. The event is also focusing attention on Shari ah compliant lifestyle products including Islamic fashion, cosmetics and pharmaceuticals, recognising the growing demand in the UAE towards these products.

Additionally it is highlighting Islamic finance, a sector currently worth between US$200 and $500 billion annually which is a consistently growing interest for financial markets across the world. As the UAE positions itself as an international finance hub, the event is particularly timely to bring business leaders in the Islamic finance industry together.

Running alongside the exhibition, the Global Halal and Islamic Business Forum will enable business professionals from finance and banking, food and beverage, textile, cosmetics, pharmaceuticals, property, travel, leisure and healthcare to discover the best practice in Halal and Islamic business.

© 2007 Al Bawaba (

Wednesday, January 9, 2008

Al Islami Foods sets up exclusive Halal meat shops at al-Ain cooperative society

Al Islami Foods sets up exclusive Halal meat shops at al-Ain cooperative society

Consolidating its presence in the UAE market, Al Islami Foods, a leading halal food producer in the region, today signed an agreement with Al Ain Cooperative Society to establish Al Islami Meat Shops in Al Ain Coop supermarket branches, an initiative to introduce exclusive and authentic Halal outlets across the UAE.

“We are proud to partner with Al Ain Cooperative Society, which shares our vision of halal consumerism. This strategic expansion allows us to provide halal meat directly to the consumer”, said Saleh Abdullah Lootah, the CEO of Al Islami Foods. “The continuing consumer trust and growing demand for Al Islami products has encouraged us to establish meat shops in the UAE.”, Lootah added.

The tie up underscores the success of Al Islami’s business strategy for the UAE market in line with company’s 5-year expansion plan into local and international markets. The company is on the verge of announcing more outlet chains across the UAE.

Suhail Hamad Bin Rakkad , Chairman of Al Ain Co-op Society, commented: “We are glad that we have good collaboration with AI Islami and are chosen to propel their new business initiative, which indicates a solid trust posed to Al Ain Co-op.”

Sourced directly from Australia, Brazil, India and Egypt under the supervision of Al Islami’s food experts designated in these countries, fresh and real halal veal, beef, chicken and mutton would be available at AI Islami Meat Shops present at major supermarkets across the UAE by 2008.
© 2007 Mena Report (