Mainan dulu dulu enterprise: preserving the cultural digital heritage with ummatic excellence

Mhd. Sarif, Suhaimi and Yahya, Rohaziah (2026) Mainan dulu dulu enterprise: preserving the cultural digital heritage with ummatic excellence. IIUM Journal of Case Studies in Management, 17 (2). pp. 35-60. ISSN 2810-2327 E-ISSN 2710-7175

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Abstract

This case examines the strategic growth, sustainability, and valuation challenges faced by Mainan Dulu Dulu Enterprise (MDDE), a Malaysian creative digital enterprise specialising in transforming traditional Malaysian games into digital entertainment ecosystems, educational software, augmented reality experiences, animation, and metaverse-based cultural platforms. Established during the rapid expansion of Southeast Asia’s digital economy, MDDE became increasingly recognized for revitalising traditional Malaysian games such as Congkak, Gasing, Batu Seremban, Sepak Raga, Teng Teng, and Galah Panjang into globally marketable digital products. The company experienced significant growth due to rising smartphone penetration, adoption of online learning, and global demand for culturally authentic digital content. MDDE’s flagship products such as Congkak Legends Online, Kampung Heroes Metaverse, and Gasing Arena AR generated strong public interest across Malaysia, Indonesia, Brunei, Singapore, and parts of the Middle East. Investors became increasingly optimistic about the company’s future growth prospects, causing its valuation to rise rapidly over a short period. However, the emergence of global technological disruption, intensified competition from international gaming giants, rising software development costs, artificial intelligence disruption, and concerns over sustainability of cultural gaming monetization raised questions regarding the intrinsic value and long-term strategic sustainability of the company. Furthermore, the management team needed to determine whether MDDE should remain a niche cultural enterprise or aggressively transform itself into a global digital entertainment company. The case requires students and analysts to evaluate MDDE’s strategic positioning, digital business model, financial sustainability, market expansion strategy, intellectual property management, and valuation approaches through discounted cash flow (DCF), comparable valuation multiples, and strategic resource analysis.

Item Type:	Article (Journal)
Uncontrolled Keywords:	Growth strategy, Competitive advantage, Dynamic capability
Subjects:	BPH Islamic Economics BPH Islamic Economics > BPH72 Economic development. Growth. Sustainable development. Sustainability BPH Islamic Economics > BPH830.3 Social systems. Urban groups. Cities and towns. Sustainable urban development H Social Sciences > HF Commerce > HF5001 Business. Business Administration > HF5387 Business ethics H Social Sciences > HF Commerce > HF5475.I74 Halal business, entrepreneur, marketing, management, and administration
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences > Department of Business Administration
Depositing User:	Dr Suhaimi Mhd Sarif
Date Deposited:	16 Jul 2026 09:51
Last Update:	16 Jul 2026 10:50
Queue Number:	2026-07-Q3998
URI:	http://irep.iium.edu.my/id/eprint/129834

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