theSun | MONDAY MAY 18 2009
business
Muslims’ involvement in
halal industry still low: Musa
TAWAU: The number of Muslim
entrepreneurs embarking on the
halal industry in the state is still low
compared with the non-Muslims
despite the industry’s huge poten-
tials, Chief Minister Datuk Seri Musa
Aman said.
He said that at the moment, non-
Muslim entrepreneurs controlled
about 80% of the industry.
“Muslim entrepreneurs should
therefore venture into the industry
in a big way,” he said when opening
the state-level halal industry exhibi-
tion and seminar here yesterday.
The two-day seminar, which also
attracted participants from Brunei
Canon confident of 11% sales growth this year
by Bernard Cheah
newsdesk@thesundaily.com
GEORGE TOWN: Canon Market-
ing Malaysia is confident it can
achieve its targeted 11% growth in
sales for this year.
Canon Marketing Malaysia presi-
dent and CEO Liew Sip Chon said
that despite the economic downturn,
the company has decided not to
revise its target.
“Our national target for this year
and Indonesia, is organised by the
Standard Malaysia and Sabah Eco-
nomic Development Corporation.
Musa said the global halal indus-
try’s annual worth is RM7.4 trillion
and continued to show growth in
line with the increase in Muslim
population, which currently stood
at 1.6 billion.
He said that in Malaysia alone,
the industry was valued at RM28.9
billion.
“This growth is not only due to
the need to fulfil religious obligation
but also due to the fact that the halal
industry itself is a powerful market
force,” he said.
is about RM700 million turnover,
and the business turnover for the
northern branch is about 17 to 18%,
which is more than RM150 million,”
Liew said.
He said sales last year grew about
10% compared with 2007.
“Even during this tough eco-
nomic situation, the targeted 11%
is a healthy growth, we have been
performing well as shown in the
past four months,” Liew said.
He said the company is not
13
market summary
KL shares to continue
consolidating this week
MAY 15, 2009
Speaking to reporters later, Musa
SHARE prices on
Bursa Malaysia are
consolidating
INDICES
expected to continue FBMEMAS
this COMPOSITE
week with a slightly INDUSTRIAL
CHANGE
6764.00 +6.08
1014.21 +2.22
2245.21 +2.25
attributed the lack of participation downside bias, as CONSUMER PROD 301.84 -2.22
INDUSTRIAL PROD 78.59 -1.20
among Muslim entrepreneurs in the cautious trading takes CONSTRUCTION 195.85 +0.40
halal industry to the lack of aware- place in the absence of TRADING/SERVICES 134.46 +0.11
ness on its potentials. fresh developments. FINANCE 8030.02 +34.81
Jupiter Securities PROPERTIES 671.65 -13.76
This growth is not only due to the head of research Pong PLANTATION 5091.31 +11.05
Teng Siew anticipated MINING 281.68 -10.13
need to fulfil religious obligation but the benchmark Kuala FBMSHA 7060.46 +4.65
also due to the fact that the halal industry Lumpur Composite FBM2BRD 4526.42 -128.79
TECHNOLOGY 14.40 -0.28
itself is a powerful market force.” Index (KLCI) to con-
– Musa Aman solidate within the TURNOVER VALUE
support and resist- 2.067bil RM1.697bil
He called on Muslim entrepre- ance level of between
neurs to change their perception 980 and 1,030.
and view the industry as a source He said the market has also been overbought and it was
for growth. – Bernama time to take a breather after an eight-week rally, which saw
the market volume surge to 3.36 billion shares on May 7 – its
highest since February 2007.
The local bourse was also boosted by optimism over the
sustainability of the global economic recovery.
Pong said the market would see some traders pullback
their positions, due to bearish seasonality in May.
slowing down on its advertising “I expect that the market volume would decrease to below
and promotions as they help push 1.5 billion next week, as traders pullback their positions.
sales, especially its SLR camera “The market is now just looking for fundamentally strong
models. firms. The players are waiting for fresh leads as more corporate
He said this after the launch of results would be announced soon,” he said.
the Penang branch office on Anson Pong also said investors are likely to start unloading their
Road. positions from this week.
The event was officiated by Chief The market, which has been in negative territory on profit
Minister Lim Guan Eng. taking for four consecutive days, ended the week mixed, as
At the same event, Canon also mild gains on banking and plantations stocks continued to
presented about 1,250 school bags push the key index higher. Pong however said the market had
to 76 schools in the state as part of its also slowly started pulling back after Malaysia’s first influenza
social corporate responsibility. A (H1N1) case was confirmed on Friday. – Bernama