The Malaysian Livestock Industries contributes 10.38 billion or 11.6% of Malaysia’s GDP in 2016 with the Poultry Industry’s 6.4% growth which contributes 95% of the total Livestock Industries GDP contribution.
Reports by Malaysia’s Ministry of Agriculture and Agro-based Industry states that the country currently produces 52,000 tones of beef worth RM169 million and imports beef worth RM1.14 billion annually to meet local demand at around 191,000 tonnes.
Malaysia’s Broiler production has the lowest cost in South East Asia.
According to Malaysia’s Department of Veterinary Services; the production trends of livestock products as well as consumption in Malaysia have been on a steady upward curve since 2005.
Malaysia currently exports live birds and processed poultry to Singapore and some Middle East countries. Singapore is the largest poultry export market where over 1.716 million live birds were exported every day.
Production increases every year since 2014 due to high productivity and capital expenditure.
Did you know LIVESTOCK PRODUCTS are eligible for consideration of PIONEER STATUS and INVESTMENT TAX ALLOWANCE under the PROMOTION of INVESTMENT ACT 1986?
So should livestock products be your next company investment?
If you’re producing livestock products currently, are you enjoying your tax allowance?
Should you need help in setting up and applying for your business and operating licenses, please don’t hesitate to contact us.
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