In the past, Prime Growth Advocates has helped business startups and entrepreneurs to venture into agriculture as the firm sees huge potential in the sector.
The agriculture sector represents RM51.2 billion contribution to Malaysia's GDP for the year 2020. However, high market demand for agricultural produce saw a significant balance trade (export-import) valued at RM 21.7 billion for the same year.
This is an indicator that the agriculture sector has plenty of room for business to grow. We are currently working with our client from the oil & gas industry to diversify their business by venturing into the agriculture sector.
Food manufacturing represents RM22.65 billion to Malaysia's GDP in 2020. Food manufacturing accounts for about 10% of Malaysia's manufacturing output and continues to be dominated by small and medium-sized enterprises (SMEs) specializing in fish, livestock, fruit and vegetables.
We expect growing demand for local products since logistics have slowed down the movement of imports. Additionally, food inflation will drive local purchases as an alternative for Malaysia's households.
Ideally, Prime Growth Advocates is working with Klang-based food manufacturer for a vendor development program.
The construction sector represents RM53.6 billion contribution to Malaysia's GDP in 2020. The sector was affected mainly by a drop in residential buildings, civil engineering and commercial buildings. It is forecasted that the construction sector remain saturated due to a mismatch in demand and supply.
However, Prime Growth Advocates sees an opportunity for specialised construction activities in 2022.
We are currently consolidating opportunities for our client in specialised area.