Aladdin Group Returns to Market as Digital Commerce Player

Following a corporate restructuring exercise, Aladdin Group, a home-grown tech company, returns to the market as a digital commerce player focusing on the Halal and Muslim-friendly landscape.

he Halal and Muslim-friendly T markets represent one of the largest growing consumer segments in the world, with a global consumption value of about US$3 trillion annually.

At the Aladdin Group’s media launch and the onboarding of strategic partners recently, Group CEO Eizaz Azhar said the Group’s approach to the industry leverages on local Malaysian talents paired with one of the most established digital teams in China as a strategic partner, specialising in e-commerce, artificial intelligence, and the recent trend of social commerce.

“We’ve witnessed an industry shift throughout the past 10 years, where seven of the largest companies in the world by market cap today are tech companies, and out of those five of them are multi-sided platforms.”

The event was witnessed by Deputy Communications and Multimedia Minister Datuk Zahidi Zainul Abidin as well strategic partners such as Shirley Tay, President of MRCA, Danny Lee, Chairman of PIKOM, Emmy Suraya, National President of MyBHA, Bon Zainal, President of MBDA, Dato’ Moehamad Izat, President of ACCI, Chris Daniel Wong, President of MDCC, Dato’ Mike Loh, President of ARFF and Datuk Michael Kang, National President of SME Association of Malaysia.

Eizaz Azhar added that coronavirus crisis had also led to the rise of platforms where they have become an integral part of everyday lives, further highlighting opportunities within the tech industry.

Aladdin Group plans to establish a supply chain solution to over 40 countries, serving a Muslim consumer segment of an estimated 1.45 billion people and creating a powerful trade network, through the establishment of 40 domestic and one global platform, explained Eizaz.

“Our core focus is on the development of B2B, B2C, and O2O (online to offline) digital infrastructure for Malaysian SMEs so merchants can easily access new markets, and consumers have a wider selection of quality products and services, on a global scale via the Aladdin Group network, he added.

“At the end of the day, at Aladdin, our consumers come first. While our products and services are of great importance, our core product remains: serving you trust and integrity. With a capable and dynamic management team augmented by a unique value proposition, we believe that participants in our platform will be able to grow on a truly global level,” said Eizaz.

Aladdin Group’s restructuring brings

Onboarding of associations represented by its presidents. From left: Danny Lee, PIKOM Chairman, Emmy Suraya, National President MyBHA, Bon Zainal, President MBDA, Eizaz Azhar, CEO of Aladdin Group, Datuk Zahidi Zainul Abidin, Deputy Minister of Communications & Multimedia, Dato’ Seri Desmond To, Founder of Aladdin Group, Dato Moehamad Izat, President of ACCI, Chris Daniel Wong, President of MDCC, Dato’ Mike Loh, President of ARFF, Shirley Tay, President of MRCA, and Datuk Michael Kang, National President of SME Association of Malaysia. onboard its new Director of Halal Affairs, Professor Dr Irwandi Jaswir, recipient of the prestigious King Faisal Prize in 2018 for his outstanding services to Islam and Muslims worldwide. The corporate exercise is backed with the appointment of an experienced board and advisors, comprising industry leaders within the global Islamic economy.

Deputy Communications and Multimedia Minister Datuk Zahidi Zainul Abidin said that the Covid-19 global pandemic has changed the global business landscape. “Digital technology plays a focal point towards facilitating the recovery against the Covid-19 pandemic around the world, and this has been especially true in Malaysia.

“In doing so, we have seen a dramatic shift for traditional business models, transforming the way trade and business is conducted. Almost every industry in the world has been disrupted by this rapid uptake of digitalisation, and the halal industry follows suit to this global trend, with e-commerce and online purchasing taking centre stage on a global scale.

“The endeavour between Aladdin Group and its strategic partners is a clear reflection of Malaysia’s commitment to the digitisation of businesses especially in today’s world, where business models worldwide have embraced digitization as a means of overcoming uncertainties that we face today.”

Datuk Zahidi added that the halal industry has a diverse value proposition and is not confined to only food segments; several emerging sectors support the growth of the halal and Muslim-friendly industry such as fashion, cosmetics, supplements and tourism.

“As Malaysia represents a world leader within the industry, it is imperative that Malaysian SMEs partake in this growth trend, leveraging on this valuable opportunity to reach beyond our borders into international markets,” he stated.