In two years, Singapore could have a dedicated halal center, which is described as probably the most advanced of its type in Southeast Asia.
The center, situated within the western region of the republic, will house halal food processing units, central kitchens, cold storage, a Halal Center of Excellence and logistics operations in a multi-story, state-of-the-art complex.
Singapore-based Elite Partners Capital made this known in a press release today because it signed a strategic partnership with the Singapore Malay Chamber of Commerce and Industry (SMCCI) to develop a 600,000 sq ft halal center at a value of S$80 million (RM242). 9 million) and 100 million Australian dollars.
“Over the past few years, Singapore has strived to develop an integrated halal business platform. The proposed halal center is a step in the right direction and will significantly contribute to the speed and efficiency of halal business processes,” said project advisor Zainul Abidin Rasheed.
Zainul Abidin can be Singapore’s ambassador to Kuwait and the Minister of Foreign Affairs’ special envoy to the Middle East.
The agreement is subject to Elite Partners and SMCCI meeting conditions precedent imposed by Jurong Town Corporation for the event of the positioning.
Construction will take roughly two years.
SMCCI is a not-for-profit organization that advances the interests of the Malay-Muslim business community in Singapore.
The partnership will leverage SMCCI’s position as a interface between the local and international business communities to enable Singaporean firms to scale, expand and globalize their halal businesses.
“We are delighted to be part of this initiative to transform Singapore into a global halal hub. We believe the center will be at the forefront of innovation in the halal industry and can offer enterprises a huge advantage in sourcing, manufacturing, distribution and international expansion,” said SMCCI president Shamir Rahim.
Elite Partners will likely be chargeable for conceptualizing, financing and managing the assets of the middle, which is able to offer its tenants opportunities in the sphere of digitalization, partnerships and branding initiatives.
The center will leverage Elite Partners’ management team, which has a long time of experience in private equity, asset management and investments.
“The center will complement the halal industry while streamlining business processes by integrating halal-related services into one ecosystem,” said Victor Song, CEO and managing director of Elite Partners.
Both partners intend for the middle to serve the blue ocean market within the Asia-Pacific region, where there is important demand for halal food.
With a powerful legal framework, quality control, and logistics and repair infrastructure, Singapore is well-positioned to turn out to be a halal hub within the ASEAN region.
In addition to logistics and connectivity to international markets, tenants will even have access to a big selection of legal, administrative and IT functions.
Source: Bernama | Malay Post
