logo
Malaysia targets RM100m trade potential from New Zealand food expo

Malaysia targets RM100m trade potential from New Zealand food expo

The Sun2 days ago
PUTRAJAYA: Malaysia is expected to generate a trade potential of RM100 million over the next three years following the participation of the Agriculture and Food Security Ministry (KPKM) in the Fine Food New Zealand 2025 (FFNZ25) in Auckland.
The Malaysian Agriculture Representative Office in Sydney, in a statement, said 156 business inquiries with an immediate trade potential of RM34.36 million were also recorded at the three-day trade event, which began on June 29.
'This reflects the overwhelming response from local visitors, with various activities and food sampling sessions attracting strong interest,' the statement said.
It added that KPKM's debut participation in FFNZ25 revealed that Malaysian agrofood products are in high demand in the New Zealand market due to their premium quality, unique taste and compatibility with local preferences.
'Therefore, KPKM is committed to supporting local entrepreneurs in exploring international markets, particularly in New Zealand, thus contributing to the nation's economic growth,' the statement read.
The statement further said that the festival, held at the Auckland Showgrounds, featured eight Malaysian companies showcasing 125 local products to the New Zealand market.
'Among the products showcased were durian-based products, Sarawak layer cakes, frozen fish and pineapple-based products. At the same time, the Perak state government also brought along four entrepreneurs to participate in FFNZ25,' it said.
The Malaysian pavilion, themed Taste of Malaysia, was officially opened by Malaysian High Commissioner to New Zealand Mazita Marzuki.
The statement also noted that trade relations between Malaysia and New Zealand remain strong and dynamic, supported by both countries' involvement in four Free Trade Agreements.
'Besides promoting local food products, the Malaysian pavilion also highlighted Visit Malaysia Year 2026,' the statement concluded. - Bernama
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

PM's political secretary slams 'narrow-minded' criticism of overseas visits
PM's political secretary slams 'narrow-minded' criticism of overseas visits

Sinar Daily

time8 minutes ago

  • Sinar Daily

PM's political secretary slams 'narrow-minded' criticism of overseas visits

Malaysia's proactive approach has yielded tangible results, with approved investments rising by 14.9 per cent to RM378 billion and trade performance increasing by 9.2 per cent to RM2.88 trillion in 2024. 07 Jul 2025 07:50pm France's President Emmanuel Macron (L) welcomes Malaysia's Prime Minister Datuk Seri Anwar Ibrahim prior to a working dinner at the Elysee Palace in Paris on July 4, 2025. (Photo by Ludovic MARIN / AFP) KUALA LUMPUR - Accusations from opposition figures labeling Prime Minister Datuk Seri Anwar Ibrahim's official overseas visits as mere 'sightseeing trips' reveal a narrow-minded misunderstanding of the strategic importance behind these diplomatic missions. Political secretary to the Prime Minister, Datuk Ahmad Farhan Fauzi, said such accusations reflect a lack of comprehension of the complex geopolitical and geo-economic challenges currently impacting the world, Malaysia, and its people. Malaysia's Prime Minister Datuk Seri Anwar Ibrahim (R) and Brazil's President Luiz Inacio Lula da Silva greet each other during the BRICS Business Forum in Rio de Janeiro, Brazil, on July 5, 2025. BRICS leaders meeting in Rio de Janeiro from Sunday are expected to decry Donald Trump's hardline trade policies, but are struggling to bridge divides over crises roiling the Middle East. (Photo by Daniel RAMALHO / AFP) He emphasised that each official visit by the Prime Minister carries significant national agendas, including attracting high-quality investments, strengthening strategic partnerships, opening new markets for Malaysian companies, and championing the voice of developing countries on global platforms such as BRICS. "This is not a mere leisure trip. It is proactive economic and geopolitical diplomacy guided by a forward-thinking vision. "The Prime Minister's economic diplomacy initiatives create strategic new economic opportunities, including resuming Free Trade Agreement (FTA) negotiations with the European Union (EU) and signing FTAs with EFTA countries,' he said in a Facebook post today. Ahmad Farhan highlighted that Malaysia's proactive approach has yielded tangible results, with approved investments rising by 14.9 per cent to RM378 billion, and trade performance increasing by 9.2 per cent to RM2.88 trillion in 2024. He noted the significance of this approach for Malaysia as an open economy, where the trade-to-GDP ratio stands at 130 per cent. "In contrast, during the previous administration, the country's image was not progressive. History shows the political crises that unfolded then. "The era of weak and uninspired leadership - likened to 'seekor belalang di tepi lautan' (a frog in a well), has passed since the MADANI government took office,' he added. Under MADANI's leadership, he said, Malaysia is once again viewed internationally as a principled, stable, and promising partner. Ahmad Farhan further said that Malaysia's effective foreign policy is evident through multi-billion ringgit investments, strategic agreements, and the Prime Minister's active participation in world-class economic and diplomatic forums. "My advice to those narrow-minded opposition figures is to better understand the people. The public does not share your mindset, nor can they be deceived by distorted perceptions. "The people are discerning and know who genuinely works for the country versus those who spread slander, sow division, and engage in 'politics without wisdom,'' he added. Currently, the Prime Minister is leading a Malaysian delegation on official visits to Italy, France, and Brazil since July 1, aimed at strengthening bilateral relations and enhancing trade and economic cooperation with these countries. This includes attending the BRICS Summit in Rio de Janeiro as a partner country and representing ASEAN 2025, advocating regional interests on issues such as global governance, artificial intelligence, climate, and health. - BERNAMA More Like This

iCents IPO oversubscribed by 2.3 times ahead of ACE Market listing
iCents IPO oversubscribed by 2.3 times ahead of ACE Market listing

New Straits Times

time35 minutes ago

  • New Straits Times

iCents IPO oversubscribed by 2.3 times ahead of ACE Market listing

KUALA LUMPUR: iCents Group Holdings Bhd's initial public offering (IPO) has been oversubscribed by 2.30 times ahead of its listing on the ACE Market of Bursa Malaysia on July 17. The IPO by the cleanroom and facility services provider involves a public issue of 112.5 million new ordinary shares at 24 sen per share. This represents 22.5 per cent of the company's enlarged issued share capital, with gross proceeds of RM27 million expected to be raised. The company offered 30 million existing shares, or six per cent of the enlarged issued share capital, via private placement to selected investors. In total, the Malaysian public applied for 82.39 million shares valued at approximately RM19.77 million under the public issue portion, translating to an overall oversubscription rate of 2.30 times. The public category received 881 applications for 72.65 million shares, oversubscribing the allocation by 4.81 times. Separately, the Bumiputera category saw 385 applications for 9.75 million shares, reflecting an undersubscription rate of 0.22 times. All 10 million shares allocated to eligible directors, employees, and persons who have contributed to the group were fully subscribed. The private placements comprised 15 million issue shares and 30 million offer shares to selected investors, as well as 62.5 million issue shares to Bumiputera investors. These placements, approved by the Investment, Trade and Industry Ministry, were fully placed out. Upon listing, iCents Group will have a market capitalisation of RM120 million, based on the enlarged issued share capital of 500 million shares and the IPO price. Managing director Vincent Ong said the IPO proceeds will support expansion initiatives and boost the company's capacity to secure more projects in highly technical industries. Executive director Foo Siang Leng added that iCents is well-positioned to capitalise on demand from fast-growing sectors requiring cleanroom and facility solutions. "Cleanroom solutions and facility services are vital to fast-growing sectors such as data centres, semiconductors, electronics and pharmaceuticals. "As these industries expand, we foresee sustained demand that underscores our business relevance moving forward," he said. Alliance Islamic Bank Bhd is the principal adviser, sponsor, sole underwriter, and placement agent for the IPO.

MACC seeks to forfeit over RM169mil in cash belonging to Ismail Sabri
MACC seeks to forfeit over RM169mil in cash belonging to Ismail Sabri

The Star

time44 minutes ago

  • The Star

MACC seeks to forfeit over RM169mil in cash belonging to Ismail Sabri

KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has filed an application to forfeit over RM169mil in cash belonging to former prime minister, Datuk Seri Ismail Sabri Yaakob. MACC, represented by the deputy public prosecutor as the applicant, filed the application at the Sessions Court here on Monday (July 7), naming Ismail Sabri's former political secretary, Datuk Mohammad Anuar Mohd Yunus and the former prime minister himself as first and second respondents. In the application, the commission is seeking a court order to forfeit cash seized from the first respondent for the Malaysian government, including RM14,772,150 in Malaysian currency; SGD6,132,350 in Singapore Dollars, USD1,461,400 in US Dollars, CHF 3mil in Swiss Francs, EUR12,164,150 in Euros, JPY363,000,000 in Japanese Yen, GBP50,250 in British Pound, NZD44,600 in New Zealand Dollars, AED34,750,000 in Emirati Dirham, and AUD352,850 in Australian Dollars. The application was made under Section 41(1) of the Malaysian Anti-Corruption Commission Act 2009 after the commission was satisfied that the money kept by Mohammad Anuar belonged to Ismail Sabri and was linked to an offence under Section 36(2) of the same Act. The commission also applied for other court orders deemed suitable by the court. – Bernama

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store