KUALA LUMPUR, Malaysia , July 11, 2022 /PRNewswire/ — As the global economy continues to deal with unprecedented levels of disruption caused by the pandemic and regional conflicts, the convergence of energy security and food security issues has become a front-of-mind issue faced by policy makers and consumers alike. In Malaysia, this has come to the surface with the emergence of several issues with poultry production, primarily chicken supply.
The report by Malaysia Global Business Forum (MGBF) titled ‘Malaysia’s Poultry Ecosystem: An Analysis of Business Data‘ extrapolated data from a total of 3,724 registered business entities with self-declared business activities in poultry.
To gain deeper insights, the report focused on 627 companies. Out of 402 companies that filed financial data in the last 12 months, it was learnt that 55.12 per cent were profitable during this period. The MGBF report also identified 30 companies that filed losses greater than RM1 million.
MGBF Founding Chairman, Nordin Abdullah, said, "Domestic and foreign investors are increasingly making data-driven investment decisions. For Malaysia to be competitive in the context of the global economy, reliable and up-to-date business intelligence needs to be accessible.
"The largest stakeholder and custodian of business data is the government of Malaysia. There is an identified requirement to consolidate business data and improve data governance in the poultry sector. To achieve that, data should be searchable at the data custodian level.
"Effectively tagged data will ensure that business and economic data can be correctly derived on an industry-wide basis, which will empower policymakers, regulators, the providers of private funding and any allocation of public funding through grants or subsidies with a data-driven approach.
"There’s an opportunity to design a desirable future through data resilience. Consumers remain the most important stakeholder in the overall equation," continued Nordin Abdullah.
The report is available for download on www.malaysiaglobalbusinessforum.com and the MGBF LinkedIn page.
MGBF was established to empower stakeholders at the intersection of international and Malaysian business. Through government relations, business intelligence, advocacy, media engagement, market research, networking, advisory and business matching, MGBF will continue to explore threats and opportunities with industry leaders and policy makers to ensure that Malaysia becomes a leader in the context of Asia.