KUALA LUMPUR: A total of 64.8 million local tourists were recorded in the second quarter of 2024, marking a 23.8 per cent increase compared with the same period last year, according to the Department of Statistics Malaysia (DOSM).
Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said that domestic tourism expenditure for the second quarter of 2024 also rose 28.6 per cent to RM28.1 billion.
He said the performance of domestic tourism in 2023 showed strong growth, with domestic visitor arrivals reaching 213.7 million people, a 24.6 per cent increase from 171.6 million the previous year.
"In addition, domestic tourism receipts rose by 32.5 per cent to RM84.9 billion, thus reflecting the positive impact of the reopening of all economic activities.
"However, if compared to pre-pandemic levels in 2019, total domestic arrivals was still 10.6 per cent lower and receipts declined by 17.7 per cent," he said in a statement today.
Mohd Uzir said that in line with the national recovery, all states recorded significant increases in both tourism volume and receipts.
He said that last year, Selangor led with the highest domestic tourism receipts at RM11.1 billion, followed by Kuala Lumpur (RM11 billion), Sarawak (RM6.94 billion) and Pahang (RM6.73 billion).
He pointed out that shopping remained the primary driver of tourism receipts, contributing RM30.84 billion, in addition to expenditure on food and beverages, accommodation and automotive fuel.
"The main purpose of domestic overnight trips for all states was visiting relatives and friends, except for Labuan where holiday and leisure travel prevailed," he said.
Mohd Uzir said the national average length of stay (ALOS) was 2.45 nights, a slight decrease from 2.55 nights in 2022, while several states record ALOS exceeding the national average, including Sarawak (3.48 nights), Kelantan (3.07 nights), Labuan (2.89 nights), Kuala Lumpur (2.70 nights), Sabah (2.67 nights) and Terengganu (2.59 nights).
He said that based on the social and demographic profile of domestic tourists, nine states - Johor, Melaka, Negeri Sembilan, Pahang, Penang, Selangor, Kuala Lumpur, Labuan and Putrajaya - had the most number of domestic visitors from households earning between RM5,001 and RM10,000 per month.
The other seven states - Kedah, Kelantan, Perak, Perlis, Terengganu, Sabah and Sarawak - recorded the highest percentage of visitors from households earning between RM1,001 and RM3,000 per month.
The above statements feels a bit like chatgpt-written but nevertheless on a broader view, F&B business is set to recover once consumer start flocking back to the establishment. The tourism factor is an added bonus with tourist money coming in. Not overly optimistic nor pessimistic, my opinion is that this counter should be able to ride through the waves and come back.
If last time u minum Starbucks then switch to Zus Coffee because u boycott Starbucks. Now u already comfortable with Zus taste and price, u think u mau go back Starbucks?
I understand the logic of switching brands and getting comfortable with it. However, humans like variety. No matter how much you like a certain store of bak kut teh, mee rebus or banana leaf rice, you would always go for other brands once in a while. No doubt market is saturated with various coffee brands, there's always someone somewhere wanting a hit of the Starbucks coffee.
BJFOOD venturing into 3 Nordic countries: Iceland, Denmark and Finland with Finland being the "coffee capital" of the Nordic countries, we will have to see how Starbucks pan out moving forward. At least VT has put a foot into the Nordic region... Malaysia boleh!
The call for boycotts against Starbucks by Muslims is often tied to specific geopolitical or social events, and its intensity or duration can fluctuate based on these contexts. Here's a factual breakdown of why these boycotts might be temporary:
1. **Trigger Events**: Boycotts of Starbucks by Muslims are usually driven by its perceived political or corporate stances. For example, some boycotts have been linked to allegations of Starbucks supporting Israel during the Israeli-Palestinian conflict. These claims are often sparked by misinformation or symbolic actions and tend to rise in periods of heightened tension in the Middle East.
2. **Clarifications from Starbucks**: Starbucks has consistently denied these allegations, clarifying that it does not financially support political causes or any particular country in such conflicts. As such, when these clarifications gain traction or the triggering geopolitical event subsides, the intensity of the boycott tends to decrease.
3. **Localized vs. Global Actions**: The boycotts often vary in intensity based on geography. While certain regions, especially those with active social movements, might experience sustained campaigns, other areas may not see significant participation, and over time, the boycott's influence wanes.
4. **Consumer Behavior**: Starbucks operates in many Muslim-majority countries, and many Muslim consumers enjoy the brand’s products. Over time, as media attention on specific issues declines, consumer habits often revert to normal. Temporary boycotts can also stem from the fact that while there may be a moral impetus to boycott initially, practical considerations and preferences often lead people to resume patronizing the brand.
Therefore, these boycotts tend to be temporary because they are usually reactive to specific incidents and tend to lose momentum as public attention shifts or clarifying facts come to light.
Starbucks in Malaysia could excel again for several reasons, despite past or temporary boycotts. Here are the key factors that contribute to its resilience and potential for continued success:
### 1. **Strong Brand Recognition and Loyalty**: Starbucks enjoys a strong brand presence globally, including in Malaysia. Over the years, it has cultivated a loyal customer base due to its consistent product quality, ambiance, and customer service. Many consumers view Starbucks as a lifestyle brand, offering more than just coffee—this connection with customers makes it resilient to short-term setbacks.
### 2. **Localized Menu and Cultural Adaptation**: Starbucks Malaysia has adapted its menu to reflect local tastes and preferences, offering items that cater to the diverse Malaysian palate. For example, they introduce beverages and desserts that appeal to the local Muslim population, particularly during festive seasons like Ramadan. This localized approach makes Starbucks more appealing and relevant to the Malaysian market.
### 3. **Halal Certification**: All Starbucks outlets in Malaysia are certified halal, which is a significant factor for Muslim consumers. This halal certification reassures customers that Starbucks adheres to Islamic dietary laws, fostering trust and ensuring that the majority Muslim population can confidently consume its products.
### 4. **Strategic Expansion and Location**: Starbucks has established outlets in key urban and suburban areas across Malaysia, including high-traffic locations like malls, airports, and business districts. These prime locations help maintain a strong physical presence and make Starbucks convenient and accessible to a wide range of customers.
### 5. **Growing Coffee Culture in Malaysia**: Malaysia’s coffee culture has been growing, especially among younger generations and urban professionals. Starbucks benefits from this trend as it provides a social environment and work-friendly spaces that appeal to both students and professionals, helping the brand to retain its competitive edge in this segment.
### 6. **Digital and Loyalty Initiatives**: Starbucks Malaysia has embraced digital strategies, such as mobile apps and a strong loyalty program (Starbucks Rewards). This has helped the company engage customers through personalized promotions, mobile ordering, and contactless payments. These innovations, combined with an increasingly digital-savvy population, ensure Starbucks stays relevant in the evolving market landscape.
### 7. **Sustainable Practices and Corporate Responsibility**: Starbucks has increasingly focused on sustainability initiatives, including reducing plastic use and promoting ethical sourcing of coffee beans. These initiatives resonate with socially conscious consumers in Malaysia, especially as awareness of environmental and ethical issues grows.
### 8. **Resilience in the Face of Challenges**: While temporary boycotts or geopolitical issues may have affected Starbucks in Malaysia in the past, the brand's resilience and adaptability have allowed it to bounce back. The Malaysian market tends to move on from short-term political or social movements, allowing brands like Starbucks to recover and regain customer trust.
### 9. **Collaborations and Marketing**: Starbucks frequently collaborates with local influencers and brands for limited-edition products and promotions, which keep its offerings fresh and engaging. This marketing strategy helps Starbucks maintain excitement around its brand and appeal to younger consumers.
By combining strong brand loyalty, halal certification, localized offerings, and a growing coffee culture, Starbucks in Malaysia is well-positioned to excel again despite any short-term setbacks.
BJFoods (Berjaya Food Berhad) is well-positioned for a rebound and growth in Malaysia and the broader Southeast Asian region due to several key factors:
1. **Strong Starbucks Performance**: Starbucks remains a flagship brand, with potential for further expansion in Malaysia and neighboring countries. 2. **Regional Expansion**: BJFoods can grow by entering new markets in Southeast Asia, capitalizing on urbanization and rising disposable incomes. 3. **Diversified Brand Portfolio**: With Kenny Rogers Roasters and Jollibean, BJFoods can cater to health-conscious consumers and broaden its market appeal. 4. **Digital Growth**: Emphasizing e-commerce and delivery services will help tap into growing online demand. 5. **Sustainability Focus**: Eco-friendly practices resonate with consumers and enhance brand loyalty. 6. **Product Innovation**: Introducing new, localized products keeps the brand fresh and relevant. 7. **Economic Recovery**: Rising consumer spending post-pandemic will fuel growth. 8. **Acquisitions and Partnerships**: Strategic collaborations could accelerate market penetration. 9. **Franchise Model**: Expanding the franchise model helps scale efficiently. 10. **Strong Leadership**: Effective management ensures sound financial strategy and growth.
These factors will drive BJFoods' resurgence and expansion in both Malaysia and the regional market.
Foreign fund inflows can help boost BJFoods' share price for several key reasons:
### 1. **Increased Demand for Shares**: When foreign investors buy BJFoods' shares, the increased demand pushes up the stock price. Large institutional investors or foreign funds often purchase significant volumes of shares, which directly raises the share price due to supply and demand dynamics.
### 2. **Market Confidence and Positive Sentiment**: Foreign fund inflows signal confidence in the company and the local market. When international investors put money into BJFoods, it often reflects their positive outlook on the company's growth prospects and financial health. This can improve local investor sentiment, leading to more domestic buying and further price appreciation.
### 3. **Access to Greater Capital for Growth**: With foreign investment, BJFoods has access to more capital, either directly or through improved stock liquidity. This enables the company to invest in expansion, innovation, or acquisitions, which enhances its future earnings potential and, in turn, supports a higher share price.
### 4. **Improved Liquidity**: Foreign fund inflows increase the liquidity of BJFoods' stock, making it easier for investors to buy and sell shares. Higher liquidity generally makes a stock more attractive to investors, which can lead to more trading activity and a rise in the share price.
### 5. **Currency Effects**: When foreign investors bring capital into a country, it can affect the local currency. A stronger currency can improve the purchasing power of the company and lower import costs, indirectly improving BJFoods' financial performance, which could reflect positively on the share price.
### 6. **Boosting Valuations**: Foreign investors often bring with them a higher valuation of companies based on global benchmarks and comparisons. Their participation can lead to a re-rating of BJFoods' stock, increasing its price as it aligns with higher international valuation standards.
### Conclusion: Foreign fund inflows boost BJFoods' share price by increasing demand, signaling confidence in the company, improving liquidity, and providing capital for future growth. This creates a positive feedback loop of rising prices and greater investor interest.
The retail sector in Malaysia is experiencing a boom due to several key factors:
### 1. **Post-Pandemic Recovery** - **Pent-up Consumer Demand**: After the COVID-19 restrictions, consumers are eager to return to physical shopping, leading to a surge in retail activity. - **Economic Rebound**: The broader recovery of the Malaysian economy has boosted consumer confidence and spending.
### 2. **Tourism Revival** - **Return of Tourists**: The resumption of international travel, especially from neighboring countries and China, is contributing to higher foot traffic in retail hubs and malls. - **Increased Spending by Tourists**: Tourists contribute significantly to retail sales, especially in luxury goods, fashion, and F&B sectors.
### 3. **Rising Disposable Income** - **Higher Consumer Spending Power**: Economic growth and government support measures have increased disposable income, driving demand for goods and services. - **Middle-Class Expansion**: Malaysia’s expanding middle class is supporting growth in premium and lifestyle retail segments.
### 4. **E-commerce Integration** - **Omnichannel Strategies**: Many retailers are integrating online and offline platforms, offering a seamless shopping experience that caters to changing consumer behavior. - **Digital Adoption**: The rise of e-commerce has led to retailers expanding their digital presence, allowing for growth in both brick-and-mortar and online sales.
### 5. **Influx of New Retail Concepts** - **New Brands and Retail Formats**: International brands are entering the Malaysian market, while local players are innovating with new retail formats like experiential stores, which attract more customers. - **Expansion of Convenience Retail**: The rise of convenience stores and specialty retailers, such as MyNews and FamilyMart, is contributing to the sector’s growth.
### 6. **Government Support and Incentives** - **Stimulus Packages**: Government initiatives, including tax relief and financial assistance programs, have helped to stimulate consumer spending and boost the retail sector. - **Infrastructure Development**: New infrastructure projects, such as transportation hubs and commercial areas, are creating opportunities for retail expansion.
### 7. **Festive Seasons and Events** - **Seasonal Shopping**: Festivals like Hari Raya, Chinese New Year, and Deepavali encourage higher retail spending as consumers purchase gifts, clothing, and household goods. - **Shopping Festivals and Sales**: Events like the Malaysia Mega Sale Carnival drive consumer traffic and boost retail spending.
These factors combined are driving a strong rebound and growth in Malaysia’s retail sector, creating opportunities for both local and international players to thrive.
Truth Matters - Starbucks menjunjung tinggi kemanusiaan. Kami mengutuk kekerasan, kehilangan nyawa orang yang tidak berdosa, serta semua ujaran kebencian.
Truth Matters - Starbucks menjunjung tinggi kemanusiaan. Kami mengutuk kekerasan, kehilangan nyawa orang yang tidak berdosa, serta semua ujaran kebencian.
A returning favorite, Starbucks Autumn Blend™ brings three independently amazing coffees together in a harmonious blend to warm the cooling days and accompany the heartier foods of Autumn. Flavors of candied pecan and sage, making this an ideal blend to enjoy on its own or paired with traditional seasonal foods and celebrations of togetherness. This pre-roast blend is best paired with herbs, cheeses and warm spices.
Zambia is an emerging coffee origin bringing unique flavors – grapefruit, tropical fruits and spice – that are different from other African coffees. Each sip offers a harmonious balance of bright pomelo and sweet ginger notes, accompanied by a gentle acidity and the lingering essence of anise spice on your palate. This washed coffee is best paired with herbs and pineapple.
Get yourself a pack of fresh whole beans to brew it at home!
Savor the extraordinary with Starbucks Reserve™ Sun-Dried Brazil Fazenda Santa Clara, where hints of mandarin orange and morello cherry for each sip. 🍊🍒
For a decadent experience, enjoy Starbucks Reserve™ Tanzania Mondul Estate, featuring rich notes of Brazil nut, red currant, and a delightful chocolate-fudge sweetness. 🌰🍫🌟
Find these gems exclusively available at Starbucks Reserve stores from 17th September 2024 onwards.
1. Target Prices Berjaya Food has been assigned two upside target prices: RM0.495 and RM0.535. These targets represent a potential return of up to 35.4%, indicating strong growth prospects from the current price of RM0.385.
2. Timeframe The expected timeframe for achieving these target prices is two weeks to two months, making this stock an attractive short-term investment opportunity. Thank you
For a businessman like VT, he would probably look into a longer timescale for the share price to grow/recover. Unless he is actively trading which I doubt then it is good time for selling the shares to retailers now.
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Posted by speakup > 2 months ago | Report Abuse
U kerja kat Berjaya?