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BUSINESS

MGBF: Accessible business intelligence crucial for Malaysia to be competitive

06/07/2022 11:51 AM

KUALA LUMPUR, July 6 (Bernama) -- A reliable and up-to-date business intelligence needs to be accessible in order for Malaysia to be competitive in the context of the global economy, said the Malaysia Global Business Forum (MGBF).

Founding chairman, Nordin Abdullah noted that domestic and foreign investors are increasingly making data-driven investment decisions.

“An 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.

 “There's an opportunity to design a desirable future through data resilience, and consumers remain the most important stakeholder in the overall equation," he said in a statement today.

 Meanwhile, MGBF said as the global economy continues to deal with the unprecedented levels of disruption caused by the pandemic and the conflict between Russia and Ukraine, the convergence of energy security and food security issues has become the centre of attention for policymakers and consumers alike.

In Malaysia, this has come to the surface with the emergence of several issues with regard to poultry production.

MGBF has released a report titled ‘Malaysia’s Poultry Ecosystem: An Analysis of Business Data’, focusing on 627 companies.

According to the report, out of 402 companies that had filed financial data in the last 12 months, more than half (55.12 per cent) recorded profits, while 30 companies had filed losses greater than RM1 million.

Additionally, 13 business entities reported losses of more than RM9 million.

“This represents a considerable industry-wide loss. A deeper multi-year analysis is required to establish whether this is an ongoing trend or if it is a spike due to current external conditions,” it said.

The report is available for download on www.malaysiaglobalbusinessforum.com and the MGBF LinkedIn page.

MGBF was established to empower stakeholders at the intersection of international and Malaysian business.

“Through government relations, business intelligence, advocacy, media engagement, market research, networking, advisory and business matching, MGBF will continue to explore threats and opportunities with industry leaders and policymakers to ensure that Malaysia becomes a leader in Asia,” it said.

-- BERNAMA


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