MAINBOARD-LISTED Regal International Group (RIG) will be developing a Halal Industry Zone in China's Qinzhou Industrial Park.
The Sarawak-based property firm said on Tuesday that its subsidiary, Million Sunray Sdn Bhd, had on Monday entered into a heads of agreement with the China-Malaysia Qinzhou Industrial Park (CMQIP) Administrative Committee, to develop a Halal Industry Zone within the Qinzhou Industrial Park.
Under the agreement, Million Sunray is granted a non-retractable period of 12 months and the sole and exclusive right to develop the zone. This includes the construction of various centres for halal certification and review, R&D, as well as exhibitions. The zone will also provide for the building of a halal food processing production line, logistics and warehouse area.
The CMQIP is said to be the first industrial park jointly established by the Chinese and Malaysian governments to cater to the huge global market for halal-certified products and services, and a fast-growing Muslim population worldwide.
Dominic Su, executive chairman and chief executive officer of RIG, pointed out that Malaysia boasts widely-accepted accreditation in halal certification. For that reason, RIG holds a "strategic edge over native Chinese developers".
He added: "Going forward, we will begin promoting the CMQIP Halal Industry Zone internationally and invite businesses interested to endorse their products with halal certification to set up operations in CMQIP."