Biggest opportunity for Brunei logistics industry is the halal trade

The Brunei Freight & Logistics Market Study - Market Trends, Analysis & Forecasts to 2023 report by Mordor Intelligence has been added to ResearchAndMarkets.com's offering.

The Brunei freight and logistics market was worth US$157.25 million in 2017 with its biggest opportunity in the multi-trillion dollar halal industry. Mordor Intelligence says that the country maintains a pristine image and is looked upon by the Islamic world as a centre of Islamic culture.

The strategic location of Brunei for China and its synergies with the Belt and Road project, open up immense opportunities for the halal certification industry in Brunei. The connections of China with Middle Eastern and Central Asian countries which are being established through the Belt and Road initiative, open up immense opportunities for Brunei. Coupled with oil and gas reserves, Chinese government see a lot of opportunities in Brunei and has been ramping up investments in the country. The Guangxi-Brunei Economic Corridor was set up to tap the halal trade in 2014. A bio-innovation zone is being developed and augmented post this partnership.

The Brunei Halal brand was a first-mover concept, the consultancy added. Kerry Logistics and the government of Brunei partnered to build Brunei Halal internationally, and provide a range of products and services under the brand umbrella. 

Companies mentioned in the report include:

Archipelago
Ceva
DB Schenker
DHL
Kerry Logistics
Yusen Logistics

Explore:

Buy the Brunei Freight & Logistics Market Study - Market Trends, Analysis & Forecasts to 2023 report (March 2018)

Cooperation between the Philippines and Brunei for the halal industry on the cards

The Secretaries of the Department of Trade and Industry (DTI) of the Philippines and the Mindanao Development Authority (MinDA) have held bilateral meetings with Bruneian government ministers on the sidelines of the state visit of Philippine President Rodrigo Roa Duterte to Brunei Darussalam from October 16 to 18.

MinDA Secretary Datu Abul Khayr Alonto met with Pehin Orang Kaya Pekerma Dewa Dato Seri Setia Lim Jock Seng (Pehin Lim), Minister at the Prime Minister’s Office (PMO) and Minister of Foreign Affairs and Trade II on October 16. Topics discussed by the two officials included cooperation in the halal industry.

Source: Department of Foreign Affairs, Philippines.

On October 17, DTI Secretary Ramon Lopez met with Pehin Orang Kaya Seri Kerna Dato Seri Setia (Dr) Haji Awang Abu Bakar bin Haji Apong (Pehin Abu Bakar), Minister of Home Affairs and Chairperson of the Brunei Investment Agency (BIA). Cooperation between the Philippines and Brunei in the halal industry was discussed.

Brunei woos tourists to Temburong area

Source: Brunei Tourism Development Department website.

The Brunei Tourism Development Department under the Ministry of Primary Resources and Tourism has launched eight unique three-day-two-night Temburong Holiday packages. These packages were developed through a joint collaboration by the Tourism Development Department with the Temburong District Office and Temburong tour operators.

At the launch ceremony the Brunei Minister of Primary Resources and Tourism, Dato Seri Setia Awg Hj Ali bin Hj Apong, urged all tourism stakeholders; travel agents, airlines, accommodation providers and also local communities to step up and work together in building up Temburong and other local tourism destinations in general as a preferred holiday destination. 

The Ministry is very keen to make the Temburong District as a premier tourist destination in the region and in the international arena. This is in line with the Tourism Development Department goal’s to strengthen the country's three primary products that includes Temburong, Kampong Ayer and Bandar Seri Begawan. It is hoped that this campaign will encourage Bruneians as well as foreign visitors to holiday at local destinations. 

The Temburong holiday packages feature exciting accommodation options catered to honeymooners such as staying overnight at the luxurious Ulu-Ulu Resort, the adventure-filled rainforest lodge for families or enjoying a glamping (glamorous camping) experience with friends along the river banks of Temburong.

The Temburong holiday packages also include a selection of adventure activities such as kayaking, flying fox, jungle trekking and many others; as well as cultural activities such as a visit to the traditional longhouse whereby visitors will get the chance to meet and greet the ‘Tuai Rumah’ and experiencing the true hospitality of the Iban culture.

Interested?

Freme's tour to Ulu Temburong starts at B$240 per adult and B$144 per child

Hashtag: #DiscoverBrunei

Steady economic growth and political stability on the cards for Brunei

Source: OBG.

Brunei is likely to continue on its current trajectory of steady economic growth and political stability, says the Oxford Business Group (OBG) in an introduction to The Report: Brunei Darussalam 2016, naming an increasing focus on economic diversification, further exploration and improved efficiency in the oil and gas industry and the ongoing growth of non-energy sectors in the country as plus points.

The report includes a chapter on Brunei's Islamic financial services. OBG notes that Brunei has attracted attention as an Islamic finance hub with its strong Islamic banking sector, a growing takaful industry and an expanding market for sukuk. Its location is also in its favour as the region contains five of the 10 largest Muslim countries by population*, OBG said.

"With some two-thirds of the world’s Muslims living in Asia, many of them in seriously under-banked markets, such as Indonesia, the region continues to hold strong potential for the industry," states OBG in the chapter introduction online. The chapter also contains an interview with Javed Ahmad, Former Managing Director of Bank Islam Brunei Darussalam (BIBD).

Interested?

Buy the report. The digital version is cheaper than the print edition, but buying the printed edition also includes PDF downloads of the report and access to report articles online. Chapters may be purchased.

Explore previous annual reports on Brunei

*According to Maps of the World, the five Asian countries with top-ten Muslim populations as of January 2016 are: Bangladesh, India, Indonesia, Iran and Pakistan. Turkey, straddling Europe and Asia, is also in the top 10. 

Logistics for Hajj pilgrims from Brunei, Iraq discussed in KSA

Source: Ministry of Haj, KSA.

The Ministry of Haj, KSA is continuing its coordination with Haj Office delegations on arrangements and requirements for their pilgrims for Hajj 2016 (1437).

HH the Minister of Haj, KSA, Dr Bandar Hajjar has met with the Sultanate of Brunei's Office of Pilgrims delegation, headed by HH the Minister of Religious Affairs, Dato' Haji Badruddin; as well as with the Office of Iraqi Pilgrims delegation, headed by HH the head of the High Commission of Hajj and Umrah, Sheikh Dr Khaled Abather al-Attiyah; and their entourages.

HH the Minister of Haj prefaced the meetings with an overview of the efforts of the KSA, led by The Custodian of the Two Holy Mosques, King Salman bin Abdul-Aziz; His Highness the Crown Prince, and His Highness the Deputy Crown Prince. Such efforts include the expansions of the Two Holy Mosques, the Masaa (the way between Al-Safa and Al-Marwah hills), and the Mataf (the area surrounding Ka'abah); theHoly Sites train, the Two Holy Mosques train project, and continual improvement of efforts to streamline and secure Hajj and umrah pilgrimages. He also stressed the importance of following the programmes prepared by the Ministry of Haj, including promoting pilgrims' awareness before their arrival to the Holy Lands, compliance with transportation programmes in order to maintain pilgrims' safety, and the early expiration of air transport and housing contracts.

Logistics matters discussed including pilgrims' housing and transportation, ritual and procedural aspects; the services provided to them by Arbab Al-Tawaif Establishments, The Unified Agents Office, and General Cars Syndicate; and the mutual cooperation in respect of umrah pilgrims services.

For their part, the minister of Brunei and the Iraqi minister admired the developments and achievements by the Custodian of the Two Holy Mosques' government, in Makkah, Madinah, and the Holy Sites, including the expansions of the Two Holy Mosques, the Mataf, and Al-Masjid An-Nabawī (Prophet's Mosque); and the Holy Sites train. The ministers have also commented on bilateral relationships.

In addition, both the ministers have praised the technical works of the Ministry of Haj, and the pilgrims' electronic portal. They also recognised the organisation and cooperation of the Ministry of Haj, and all related authorities.

Brunei and Iraq will send nearly 400 and 25,000 pilgrims respectively this year.

Interested?

Read the Suroor Asia blog post about the Ministry of Haj's overview of Hajj 2016
Read the Suroor Asia blog post about the meetings with the Pilgrim Affairs Offices of Afghanistan and Palestine

Food and bio-industry conference in Brunei this May

Source: Brunei Darussalam government.

The two-day International Food and Bio-Industry Investment Conference will be held in Brunei Darussalam in May 2015 as part of the Sultanate's Brunei BioInnovation Corridor's (BIC) initiative. The conference and the BIC initiative are in line with the nation's intention to achieve further diversification, competitiveness and sustainability of the economy.

Source: Brunei Darussalam government. Aerial view, BIC.

Hosted by the government of Brunei Darussalam, the conference will align with BIC's purpose to promote Brunei Darussalam as a regional hub for bio-industry research and innovations, with a focus on halal food products, cosmetics, pharmaceuticals, biotechnology and logistics. Delegates will include senior government officials; business executives, investors, as well as high-profile speakers from around the globe. Topics of discussion are to cover economic opportunities in addition to in-depth bio-innovation.

Source: Brunei Darussalam government. BIC masterplan.

"The BIC spans an area of approximately 500 hectares, and will attract investment in research and development, manufacturing, and commercial industries. It is an additional sector that will strengthen the economy," said His Majesty The Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar 'Ali Saifuddien Sa'adul Khairi Waddien, the Sultan and Yang Di-Pertuan of Brunei Darussalam on the occasion of HM's 68th birthday.

The BIC, in the Brunei Muara District, is an initiative led by the Ministry of Industry and Primary Resources of Brunei Darussalam. The BIC is a mixed use environment able to accommodate research and innovative technology applications. It is anticipated to provide up to 28,000 full time employment positions, in which 9,500 roles would be related to food processing. 

Discussions are in progress for developing Phase 1 (37 hectares of land to be subdivided into 25 plots) with investors. Approximately 30% or up to 195 hectares of land is earmarked for industrial usage, and 25% of land will be allocated for green space. 

Brunei Halal now in Hero Hypermarts, Malaysia

Source: Brunei Halal.

Brunei Halal, which aims to be the most iconic halal brand in the world, announced late October that it is now in Hero Hypermarts across the Klang Valley in Malaysia. The company produces a wide range of items, including finger foods, flatbreads, and microwaveable rice. Pictured are the company's range of prepared sauces.

According to the Brunei Halal website, the company's priority is to ensure that consumers know products with the Brunei Halal label have passed through the most stringent safety checks at every step of the supply chain to meet – and exceed – consumer expectations. A list of outlets which carry Brunei Halal products is also available online.

BIBD At-Tamwil turns to FICO technology to manage loan portfolio risk

FICO, a predictive analytics and decision management software company, has announced that BIBD At-Tamwil, a subsidiary of Bank Islam Brunei Darussalam (BIBD), the largest Islamic bank in Brunei, has seen increases of 20% percent or more in auto loan bookings since it implemented a mobile decision management application developed using FICO technology.
FICO predictive analytics and the FICO Blaze Advisor decision rules system have enabled BIBD At-Tamwil to manage its loan portfolio risk, satisfy regulatory requirements and take full advantage of information from a newly formed credit bureau, which became available in late 2012. 

Source: FICO

The company’s ability to provide on-the-spot decisions for loans has been the driving factor in boosting business. Its marketing agents at car dealers now use iPads to process credit applications at the car lot, entering the customer’s financial information into the mobile app, along with photographs of important documents such as identity cards and payslips. 

This information, along with credit bureau data, is then analysed using predictive analytics and business rules within FICO Blaze Advisor decision rules system to provide a loan approval decision. This customer-centric approach has streamlined the experience, increasing buyer satisfaction and therefore sales.

“We felt customers were waiting too long for loan approvals using our old system,” said Irwan Lamit, MD of BIBD At-Tamwil, which helps more than 14,000 Brunei consumers every year to finance new and used cars or motorbikes. “With this new approach, we’ve cut the process from a potential 24 hours down to mere minutes while still effectively managing risks. This is a win-win solution that has grown our client base and sales.”

BIBD At-Tamwil made this technology investment as part of its strategy to double its revenue every five years in a highly competitive and saturated marketplace.

“Finding growth meant targeting new customers while managing our risk,” said Irwan. “We decided to include non-salary assigned customers, people whose principal bank account is not with our parent bank. To do this, while increasing loan turnaround time, meant quality risk management was an essential ingredient to the solution.

Dinesh Pereira, who manages FICO’s business in Brunei, added that the innovative solution developed for BIBD At-Tamwil is a great example of the use of customer-focused technology in the financial services industry to drive profits.

“BIBD At-Tamwil is using technology to make life easier for clients looking to buy automobiles. Their work demonstrates what is possible when the power of analytics and mobile are brought together to improve the customer experience.”