Kuala Lumpur, 23rd May 2018,
Malaysian Franchise Association (MFA) targets 60 of its members to participate in the 21st edition of the Malaysia Franchise Awards (MFA) 2018 in September this year.
MFA chairman Datuk Radzali Hassan said the awards, to be held on Sept 18, is designed to be favourable for both old and new members.
“Currently, we have approximately 300 members in the association, not all of them will participate in the awards. The domestic growth is slow, but the international demand for the local franchise is high,” he said at the association’s briefing and 23rd AGM in Kuala Lumpur yesterday.
There are 18 categories to be won at the MFA 2018, such as the Main Category — Best Franchise, Franchise System, International Franchise and Open For All.
A new Media category has been added, which is divided into Best Writer and Best Franchise Industry Article.
Radzali said there are efforts being put into promoting and bringing local franchises’ products onto the international radar.
“It is important for franchises to remain innovative in maintaining their brand. Around 18 MFA associates were brought to Turkey, as well as 10 to Japan,” he said.
The Malaysian Reserve (TMR) previously reported Marrybrown Sdn Bhd will be the first halal restaurant to enter Japan to capitalise on the upcoming Olympics in the year 2020.
TMR also reported that the local franchise industry is expected to achieve its contribution of RM35 billion to the national gross domestic product by 2020 and projected for 8% growth this year.
MFA has stated its plans to penetrate the Korean and Indian markets in the future.
Franchise International Malaysia 2018 that was held last month registered a potential transaction value of RM410 million, which is a 10% increase from the previous year.
Read more : https://themalaysianreserve.com/2018/05/23/mfa-expects-60-members-in-franchise-awards/