Malaysia faces poultry supply issues
Only 55% of businesses were profitable in the last 12 months
11 July 2022
2 minute read
By: A report by Malaysia Global Business Forum (MGBF) has found that the combination of the pandemic and regional conflicts has had a significant impact on food and energy security. In Malaysia, this has come to the surface with the emergence of several issues with poultry production, primarily chicken supply.
The report was compiled using data from 3,724 registered business entities with self-declared business activities in poultry. But to gain deeper insights, the report focused on 627 companies. Out of 402 companies that filed financial data in the last 12 months, 55.12% were profitable during this period. The MGBF report also identified 30 companies that filed losses greater than RM1 million (USD 226,000).
"Domestic and foreign investors are increasingly making data-driven investment decisions," said MGBF founding chairman Nordin Abdullah. "For Malaysia to be competitive in the context of the global economy, reliable and up-to-date business intelligence needs to be accessible."˜pa
"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," he said. "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," said Abdullah.
"There's an opportunity to design a desirable future through data resilience. Consumers remain the most important stakeholder in the overall equation," he concluded.
