Collaborations Between Local Companies, MNCS Can Strengthen Malaysian Brands
KUALA LUMPUR, June 25 (Bernama) -- Collaboration between local companies and multinational corporations (MNCs) can serve as a good model to strengthen Malaysian brands and move the country beyond merely being a manufacturing base, said Entrepreneur and Cooperatives Development Minister Steven Sim.
He said Malaysian companies must develop their own products, services, technology, trademarks and branding to remain competitive amid growing global economic challenges.
“This is not about being ‘syok sendiri’ (flattering oneself) in changing from ‘Made in Malaysia’ to ‘Made by Malaysia’; it is because of the global economic trend where we are facing very tough competition, not only in this region but also from major economies.
“We are also facing protectionist policies, sometimes extreme, involving tariffs and so on, as well as rapid technological changes,” he told reporters on the sidelines after launching the collaboration between Tealive operator Loob Holding Sdn Bhd and Dutch Lady Milk Industries Bhd.
Also present were Dutch Lady Malaysia managing director Veronika Utami and Loob Holding Sdn Bhd founder and chief executive officer Bryan Loo.
Sim said Malaysia’s previous economic model had largely focused on building factories and manufacturing products, while technology, branding and design were held by foreign companies.
He stressed that Malaysian companies can no longer depend only on such a model and must instead build their own capabilities to ensure long-term sustainability.
Citing the collaboration between Tealive and Dutch Lady as an example, Sim said the partnership showed how an MNC investing in Malaysia could also help build the value of a local company.
“Tealive is a Malaysian brand, and this collaboration with an MNC is a very good model.
“Companies that invest in Malaysia should also invest in building up the value of local companies,” he said.
Sim said he hoped to see more such collaborations in the market, especially those involving local entrepreneurs.
During the launch today, Tealive and Dutch Lady introduced MooTea, a signature milk tea, and MeowCha, a signature matcha drink, under a ready-to-drink dairy milk tea range inspired by cafe favourites.
The collaboration combines Tealive’s expertise in beverage innovation and popular cafe-style flavours with Dutch Lady Malaysia’s dairy expertise, manufacturing capabilities and nationwide retail distribution network to produce ready-to-drink dairy beverages for the mass market.
Through the partnership, the companies aim to make cafe-inspired drinks more accessible by offering them at supermarkets, convenience stores and other retail outlets nationwide.
The products are currently available nationwide at major retail outlets, including Jaya Grocer, 99 Speedmart stores nationwide, and other leading supermarket and convenience store chains.
-- BERNAMA