MFA Targets RM370 Million Transaction For FIM 2017

KUALA LUMPUR, Feb 21 -- The Malaysian Franchise Association (MFA) is targeting RM370 million in transactions to be generated from the three-day Franchise International Malaysia 2017 (FIM 2017), beginning May 12, and about 10,000 visitors to patronise the fair.

Vice-Chairman Izham Hakimi Hamdi said FIM recorded almost the same sales volume last year, driven by the food and beverage, services and education franchises.

"We will continue to maintain this momentum towards industrial growth despite the current sluggish economic landscape.

"We believe this industry will continue to record strong growth," he told a press conference on the FIM 2017 here today.

Jointly organised by the Ministry of Domestic Trade, Cooperatives and Consumerism and MFA, the exhibition will be held at Putra World Trade Centre.

FIM, accredited by the World Franchise Council, successfully attracted world-famous international franchise brands, among others, from the United States, China, the Phillipines, South Korea and Canada.

He said 60 per cent of the 118 exhibition booths have been booked todate, with 45 per cent of the bookings coming from local franchises.

Among brands to have confirmed participation include 'The Manhattan Fish Market', 'Teh Tarik Place', 'Smart Reader Kids', 'Daily Fresh' and 'Coolblog'.

Currently, there are 845 registered franchises, nationwide, with Bumiputera franchise companies accounting for 27 per cent (225 franchises), 67 per cent local franchises and 33 per cent international franchisers, he said.

Izhan Hakimi said several forms of assistance including marketing and negotiating platforms would be provided in efforts to encourage Bumiputera involvement in the franchise business.