Malaysia Food and Drink Report – the Updated Q1 2010 Edition
Research and Markets (http://www.researchandmarkets.com/research/e8bf1e/malaysia_food_and) has announced the addition of the “Malaysia Food and Drink Report Q1 2010” report to their offering.
The
Malaysia Food and Drink Report provides industry professionals and
strategists, corporate analysts, food and drink associations,
government departments and regulatory bodies with independent forecasts
and competitive intelligence on Malaysia’s food and drink industry.
The
Malaysian economy appears to be over the worst of the downturn and the
outlook for 2010 has improved significantly. We are forecasting that
real GDP will shrink by 3.4% for 2009 before staging a mild recovery in
2010 to grow by 2.7%. In light of the improving economic conditions, a
number of Malaysia’s food and drink producers are feeling cautiously
optimistic, as demonstrated by some of the industry activity and
financial results seen in the last quarter of 2009.
One such
company is Nestlé Malaysia, which announced in Q309 that going forward,
it expects to see top and bottom line growth by focusing on its
longer-term objectives, one of which is to expand and invest further in
the manufacture of halal products.
In keeping with this objective, the
company entered into a strategic agreement with the Halal Industry
Development Corporation and the Small and Medium Industries Development
Corporation in August. One of the benefits to Nestlé of this
collaboration is the help it will receive in promoting its halal
products internationally.
Elsewhere, this quarter has seen little significant
activity with the country’s mass grocery retail sector. However, both
Tesco Malaysia and AEON Malaysia have reiterated their commitment to
the country. With sales through mass grocery retail outlets forecast to
increase 44.4% to reach MYR19.97bn in 2014, this commitment appears
well founded.
Although the Malaysian economy has shown signs of
picking up, in the immediate term the environment for the country’s
food and drink producers is likely to remain tough.
