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Indonesia: Moderland Develop Halal Project with Barakah Taiwan Halal Hub, Local Sharia Bank

| 17/11/2019
PT Modern Industrial Estate (MIE), unit of local property developer, PT Modernland Realty Tbk (IDX: MDLN) collaborated with Barakah Taiwan Halal Hub and four Islamic banks to develop Modern Halal Valey in ModernCikande Industrial Estate (MCIE), Serang, Banten – Photo by the Company

JAKARTA (TheInsiderStories) – PT Modern Industrial Estate (MIE), unit of local property developer, PT Modernland Realty Tbk (IDX: MDLN) collaborated with Barakah Taiwan Halal Hub and four Islamic banks to develop Modern Halal Valey in ModernCikande Industrial Estate (MCIE), Serang, Banten.

The four local banks, namely PT Bank Mandiri Syariah, PT BRI Syariah, PT BNI Syariah and PT Bank Muamalat Indonesia prepared funds Rp2.1 trillion (US$150 million) to develop the areas.

“Through the cooperation with Islamic banking, the financing of halal areas can be accommodated well because investors can be more comfortable investing in the halal industrial area,” said president director of MIE, Pascall Wilson in an official statement today (11/14).

He expect the deal will creating a synergy between the parties and increasing the growth of the halal industry in Indonesia through financing from Islamic bank. While, the collaboration with the Taiwan Halal Hub, he adds, caused the company has one of the largest halal regions in Asia and become a major commodity in Taiwan.

Regarding the progress of the development of the Modern Halal Valley area at MCIE, Wilson reported that currently its still in the stage of building road infrastructure and other supporting buildings. And, for land use for the halal industry tenants it will be ready in the third semester of 2020. One of the companies had joined the estate was PT Charoen Pokphand Indonesia Tbk (IDX: CPIN).

Modern Halal Valley, is the first and largest halal industrial area in Indonesia covering 500 hectares developed within the MCIE. This cluster will summarize the Halal Integrated Supply Chain, Standard Factory Building, Industrial Land, and Logistics Park.

“ModernCikande Industrial Estate wants to participate in realizing Indonesia’ vision of building a complete halal ecosystem for halal food and related industries. Modern Halal Valley provides premium land for companies who want to make Indonesia a base for their international business in terms of halal production and trade, ” said Wilson.

On a separate occasion, Freddy Chan, deputy director of Modernland Realty. revealed, the increasing global challenges forced the property industry to always adjust to the dynamics of the economy, the thunder of imports and exports and the volatility of the US dollar exchange rate. Throughout 2018, Modernland Realty continues to strengthen its performance in the reside segment

Pascall Wilson, President Director of PT Modern Industrial Estate, told the media on Nov. 13, the funds will use to help end users who want to buy industrial lots or warehouses from the developers. The land use for the halal industry tenants, he said, will be ready in the third quarter of 2020

He said, MCIE is being carried out to attract investors from abroad and have a great potential in Indonesia. Having been active in penetrating industrial markets in China and Taiwan, it was continued by venturing into the industrial market potential of South Korea.

In fact, Indonesia is a country with the largest consumer of halal food products in the world with an economic value of $197 billion followed by Turkey which reaches $100 billion.

“The halal industrial zone that we have developed has infrastructure and facilities that support halal management and distribution, both to meet the needs of the domestic and international markets. We even hope that this cluster will later become the ecosystem of the country’s halal industry,” said Wilson on Oct. 10.

Modern Halal Valley covering 500 hectares located in MCIE in Cikande, Serang, Banten. This cluster will summarize the Halal Integrated Supply Chain, Standard Factory Building, Industrial Land, and Logistics Park.

At the side one seminar in Jakarta, governor of Bank Indonesia (BI), Perry Warjiyo, asserted that the central bank have the vision to make Indonesia as the center of global halal industry. To reached this target, he said, the Bank will implement five strategies by rise the competitiveness, certify the halal products, coordinate with other regulators, do campaign of the halal products, and cooperate with other parties.

Warjiyo also sees the global halal market increasing along with the number of moslem which reach 1.84 billion or 24.4 percent of the world population. The population could drive the value of halal market which according to Global Islamic Economy Report will reach $1.8 trillion for halal foods industry, $274 billion for halal tourism industry, and $361 billion for halal fashion industry in 2023.

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Category: Asia, Finance & Investment, Food Manufacturing, Halal economy, Halal Integrity, Halal Trade, Indonesia, Research

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