Editorial
Greetings for 2018 from MASSA Secretariat !
The 1st quarter of 2018 has swiftly flown past. In this edition, we are pleased to bring you an article from H.E. Manuel Balaguer Salas, Ambassador of Argentina to Malaysia highlighting Argentina as a preferred destination for business with Latin America. Argentina has a highly diversified economy with the services sector contributing more than 50% to its GDP. Its agriculture produce and downstream products are well known globally. Bi-lateral commerce and trade with Malaysia has diversified and has been steadily increasing, especially in the halal sector. H.E. Ambassador Manuel Balaguer Salas and his Commercial Officer, Ms Lier Wei Qi would be pleased to hear from you.
The Honorable Minister for National Planning and Monitoring, Papua New Guinea, Mr Richard Maru, MP together with a delegation that included the Honorable Minister of Immigration, Mr Petrus Thomas, MP visited MASSA and met MASSA’s President, Tan Sri Azman Hashim and members on 18 April 2018.
The Minister’s programme in Malaysia included meeting their counterparts in Government and with our private sector that included MASSA. The Minister highlighted investment opportunities in the following areas:- Banking & Financial Sector, especially Micro & SME Sectors, Property & Real Estate Sector, especially Hotel Development, Fishery & Forestry – downstream processing, Telecommunication Sector and Green & Renewable Energy Sector.
MASSA together with FMM will be organising a business mission to Papua New Guinea from 4 to 8 August 2018. Look out for our news on this visit. We look forward to your participation on this mission.
In line with the current technological transformation brought on by the Fourth Industrial Revolution and Industry 4.0, we are witnessing how technology and the internet are transforming the way we live and work.
MASSA together with MAJECA, co-organised a technical visit to Inari Amertron Berhad and Penang Skills Development Centre (PSDC) in Bayan Lepas, Penang on 26 April 2018. Inari Amertron Berhad has adopted Industry 4.0 features in their production line. We witnessed an example of a “smart factory” concept in which cyber physical systems monitor real time physical progress of the factory which can enable decentralised decisions to be made. Our visit to PSDC enabled us to be acquainted with the extensive range of training and industrial programmes PSDC conducts to equip our workforce to be directly relevant to industry needs. In keeping with the development of Industry 4.0, PSDC also conducts a range of training programmes in this area.
In the coming months, MASSA will endeavour to bring you articles and events to keep you abreast of Industry 4.0 issues. Starting with this edition, we are pleased to share an article from the Selangor Human Resource Development Centre (SHRDC) on the Malaysian Smart Factory 4.0.
We hope this edition of news and views have been enlightening for members and readers. We want to thank all our contributors and partners for sharing all these information and insights. MASSA endeavours to be a focal point for South-South information and business cross flows.
Editorial Committee
MASSA Secretariat
President’s Message
Bank Negara Annual Report 2017 stated that 2017 was a year of resurgence. Improvements in the global and domestic economy exceeded earlier expectations with growth that was broad-based and synchronised. This was inspite of ongoing political uncertainties in the major economies.
For Malaysia, the economy performed well. It recorded a robust growth of 5.9% (2016: 4.2%) supported by expansions in both private and public sector spending. Export growth surpassed expectations increasing at its fastest pace since 2004. The up swing in the global technology cycle resulting from the demand from Malaysia’s major trading partners, i.e. P.R. China, Asean, US, EU and Japan led to strong demand for our Electronics and Electrical products. (E & E).
Continuing from the stronger global economic conditions, the Malaysian economy is projected to grow by 5.5% – 6.0% in 2018. Domestic demand will continue to anchor this growth underpinned by sustained demand from major trading partners, favourable global commodity prices and the continued expansion in the global technology upcycle.
This technology upcycle is part of the transformation that is fundamentally changing the way we live, work & do business. The Fourth Industrial Revolution and Industry 4.0 is already impacting every level of society and business in the developed and developing countries. Our Malaysian Government has been proactive in realizing this phenomenon and they have embarked on a plan for Malaysia to transform, adopt and embrace the new digital age. This requires enormous collaborative efforts across multiple stakeholders and organisations.
Towards this end, MASSA is doing its part by embarking on awareness programmes to highlight some key areas as the digital ecosystem unfolds. MASSA is pleased to work with change agents who are at the forefront of this challenge that includes Malaysia Digital Economy Corporation Sdn Bhd (MDEC), Penang and Selangor Human Resource Development Centre (HRDC). Through the equipping of our corporates and the upskilling of the talents of our workforce, we can continue to extend to our development partners in the South-South countries, a better value proposition that can translate to efficiencies, productivity and profitability.
I appreciate the continuing support and cooperation of all our Executive Committee and members and your participation in MASSA’s activities.
Tan Sri Azman Hashim
President
Binary University Sdn Bhd
| Binary University Sdn Bhd (Co. Reg. : 378596-X) |
| About Us: | Established in 1984, Binary University is rated as a 5 STAR (Excellent) University by the Ministry of Higher Education. The university is a specialist university for Management, IT and Entrepreneurship. The university produces a unique breed of graduates called Industry Specialist Professional (ISP) graduates who are equipped with industry – specific skills and armed with extensive entrepreneurial skills. Due to these unique differentiating factors, the graduate employability rate of the university has been among the highest in the country. (Source Tracer Study, MOHE)
Binary University offers courses at PhD, Doctorate, Masters as well as Bachelor degree levels. The University is patronized by international students from over 60 countries. Binary degrees are also being offered in Europe, Africa, Middle East, the Indian Sub- Continent and Central Asia. The university is supported by 5 dedicated research centres in social entrepreneurship, business entrepreneurship, women leadership, ICT and advanced management. |
| What We Buy: | – |
| What We Provide: | Provider of Higher Education Services and Training and Consultant Services both Locally & Internationally |
| The countries we are operating in. | China, India Sub Continent, Europe, Middle East and Central Asia Smart partnership in Higher Education, Consultancy and Training Services |
| Contact: | Roland Wee |
| Job Title: | Registrar |
| Location: | No. 1, IOI Business Park, Persiaran Puchong Jaya Selatan, Bandar Puchong Jaya 47100 Puchong, Selangor |
| Tel/Fax No: | – |
| Industry: | Education Industry |
| Email: | roland@binary.edu.my |
| Website: | www.binary.edu.my |
Magnum Corporation Sdn Bhd
| Magnum Corporation Sdn Bhd (Co. Reg. : 8272-D) |
| About Us: | Magnum Corporation Sdn. Bhd. (“Magnum”), which was founded in 1968, is focused primarily on the lottery business or numbers forecast betting games. As the first private company to be awarded the license by the Malaysian Government to operate the hugely successful 4-Digit numbers (“4D”) forecast betting game in Malaysia, Magnum is the industry pioneer with our highly successful Magnum 4D, Magnum 4D Jackpot, Magnum 4D Jackpot Gold and Magnum 4D Powerball games.
Magnum is a member of the World Lottery Association (WLA) and the Asia Pacific Lottery Association (APLA) which are member-based organisations for state-owned and legalised lotteries. As a member of these international organisations, Magnum strives to uphold the highest ethical principles and best practices to ensure that it maintains a high standard of integrity, responsibility, accountability and professionalism towards its Employees, Customers, Community and Stakeholders. |
| What We Buy: | – |
| What We Sell: | Licensed four digit numbers forecast betting game tickets and its variation games’ tickets. |
| The countries we are operating in. | Malaysia |
| Contact: | Dato’ Lawrence Lim Swee Lin |
| Job Title: | Chief Executive Officer |
| Location: | 35th Floor Menara Multi-Purpose, Capital Square, No. 8, Jalan Munshi Abdullah 50100 Kuala Lumpur |
| Tel/Fax No: | Tel: 603-2698 8033 |
| Industry: | Others – Gaming |
| Email: | corporate@magnum.my |
| Website: | www.magnum.my |
Forthcoming Events
Business Mission to Papua New Guinea on 7-12 May 2018
MASSA and FMM will be organising a business mission to Papua New Guinea on 7-12 May 2018. For further details on the business mission, kindly contact MASSA Secretariat at Tel: 603-2078 3788 or Email: mail@massa.net.my
MASSA Events
5th Showcase Malaysia 2017 on 21st to 23rd September 2017 at International Convention City Bashundhara (Pushpogusso Hall-2), Dhaka, Bangladesh
The Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) organised the 5th Showcase Malaysia 2017 from 21st to 23rd September 2017 at the International Convention City Bashundhara, Dhaka, Bangladesh. The 3 day event was organised in collaboration with High Commission of Malaysia in Bangladesh and the High Commission of Bangladesh in Malaysia. MATRADE and MASSA were the supporting organizations.
This 5th edition of Showcase Malaysia, is a testimony to the growing and expanding bilateral relationship between the 2 countries. Since the inaugural Malaysia Showcase event in 2008, trade and investment ties have grown by leaps and bounds. This platform continues to be an excellent platform for Malaysian businesses to display its products and services and for the business community from the 2 countries to meet, exchange ideas and forge sustainable partnerships in trade, investment, infrastructure development, health, tourism and many other sectors.
The Opening Ceremony was graced by its Chief Guest, H.E. Mr Alhaz Amir Hossain Amu, M.P. , Honourable Minister of the Ministry of Industries, Government of the People’s Republic of Bangladesh
The Guest of Honour, Mr Idham Zuhri Mohamed Yunus, Acting High Commissioner of Malaysia in Bangladesh also addressed the Inaugural Ceremony
More than 60 companies and organisations participated in the Showcase.
Pusat Perubatan Prince Court Medical Centre Booth
Pantai Hospitals Booth
Q & Q Trading Limited Booth
(right) Ms Ng Su Fun, Executive Secretary MASSA with Dato’ Tan Seng Sung, Consultant, Tan Chong Group at the MASSA Booth
Visitors visiting MASSA Booth
APM Auto Parts Marketing (Malaysia) Sdn Bhd Booth
A Seminar of Business Opportunities was held wherein, MASSA, represented by Ms Ng Su Fun, was a panelist.
Mr Ifty Islam, Principal of AT Capital delivered a paper on “Bangladesh Growth Drivers and Investment Opportunities”.
(left) Ms Ng Su Fun, Executive Secretary MASSA, one of the panellist at the Seminar on “Bangladesh-Malaysia Trade Relations”
Group photo of all the panellists at the Seminar on “Bangladesh-Malaysia Trade Relations” with (3rd from left) Ms Ng Su Fun, Executive Secretary MASSA
Showcase participants attended a cultural celebration at a Gala Dinner hosted by BMCCI at the Radisson Hotel in Dhaka on 22nd September 2017. The dinner was graced by H.E. Mr M.A. Mannan, M.P. Honourable State Minister, Ministry of Finance, Government of the People’s Republic of Bangladesh.
Address by Mr Ar. Md. Alamgir Jalil, President of BMCCI
Address by Guest of Honour, Mr Idham Zuhri Mohamed Yunus, Acting High Commissioner of Malaysia in Bangladesh
Address by Chief Guest, Mr M.A. Mannan, MP, Honourable State Minister, Ministry of Finance, Government of the People’s Republic of Bangladesh
Ms Ng Su Fun, Executive Secretary MASSA receiving a plaque from Mr Syed Moazzam Hossain, Chairman, Organizing Committee of the 5th Showcase Malaysia 2017 at the dinner
Cultural dance performance at the dinner
Cultural dance at the dinner
Malaysian participants with (4th from right) Mr Idham Zuhri Mohamed Yunus, Acting High Commissioner of Malaysia in Bangladesh
Courtesy Call by H.E. Peter Vincent OL, High Commissioner of Papua New Guinea to Malaysia to MASSA Secretariat on 27th September 2017
MASSA received a courtesy visit from the High Commissioner of Papua New Guinea to Malaysia on 27th September 2017. H.E. Peter Vincent OL was accompanied by the 1st Secretary of Papua New Guinea High Commission, Mr Philemon Senginawa at this visit.
Bilateral trade and investment matters were discussed and His Excellency extended an invitation to MASSA members to get to know more about business opportunities in/with Papua New Guinea.
MASSA will be working closely with the Papua New Guinea High Commission office in Kuala Lumpur to avail MASSA members of the business opportunities in Papua New Guinea with the view to organising a business mission to Papua New Guinea in 2018.
* Please refer to the feature article on Papua New Guinea for more information on doing business in Papua New Guinea.
(left to right) Mr Philemon Senginawa, First Secretary of the Papua New Guinea High Commission, Ms Ng Su Fun, Executive Secretary MASSA, H.E. Peter Vincent OL, High Commissioner of Papua New Guinea to Malaysia and Ms Florence Khoo, Asst. Executive Secretary, MASSA
Working Visit of Erdeness Mongol LLC, Mongolia Delegation to Malaysia from 4th to 6th October 2017
A delegation Erdenes Mongol LLC, Mongolia made a working visit to Malaysia from 4th to 6th October 2017. Erdenes Mongol LLC is a Mongolian Government Corporation, founded in 2007 with a mandate to represent the Government of Mongolia’s interest in strategic mineral assets and related projects in the country. This company has been mandated to be the leading asset management company to promote economic growth in sectors such as mining, infrastructure and energy in Mongolia led by its Vice Chairman for Business Development, Mr Odbayar Odonchimed.
MASSA was priviledged to organise and arrange for the delegation members from Erdenes Mongol LLC to meet the President of MASSA together with MASSA members on 5th October 2017. The delegation visit was accompanied by the Honorary Consul of Mongolia to Malaysia, Mr Reynolds Augustine.
Meeting with MASSA President, Tan Sri Azman Hashim and Executive Committee Members of MASSA
(left to right) Mr Reynolds Augustine, Hon. Consul of Mongolia to Malaysia, Mr Odbayar Odonchimed, Vice Chairman for Business Development of Erdenes Mongol LLC, Mongolia and Ms Enkhjargal Danzanbaljir, International Advisor/Member of the Board, Erdenes Mongol LLC, Mongolia at the meeting
(6th from left to right) Tun Michael Chen Wing Sum, Vice President MASSA, Ms Enkhjargal Danzanbaljir, International Advisor/Member of Board, Erdenes Mongol LLC, Mongolia, Tan Sri Azman Hashim, President MASSA, Mr Odbayar Odonchimed, Vice Chairman for Business Development of Erdenes Mongol LLC, Mongolia, Mr Reynolds Augustine, Hon. Consul of Mongolia to Malaysia with MASSA members
(left) Tan Sri Azman Hashim, President MASSA and Mr Odbayar Odonchimed, Vice Chairman for Business Development of Erdenes Mongol LLC, Mongolia
(left) Mr Odbayar Odonchimed, Vice Chairman for Business Development of Erdenes Mongol LLC, Mongolia and Tun Michael Chen Wing Sum, Vice President MASSA
MASSA arranged for the delegation to visit its member company Tenaga Nasional Berhad (TNB). The Mongolian delegation was received by YBhg Datuk Wira Roslan Ab Rahman, Chief Corporate Officer of TNB together with his TNB team from the various divisions in TNB.
(right) Datuk Wira Roslan Abd Rahman, Chief Corporate Officer TNB presenting a souvenir to (left) Mr Odbayar Odonchimed, Vice Chairman for Business Development of Erdenes Mongol LLC, Mongolia with (center) Ir. Shah Nawaz Asan Gany, Senior Manager (International Relatioins), Group Corporate Communications, TNB
Group photo at Tenaga Nasional Berhad (TNB) office
MASSA and FMM Briefing Session on the “Business & Investment Opportunities in Papua New Guinea” at Wisma FMM, Kuala Lumpur on 8 December 2017
MASSA and FMM jointly organised a briefing session on the “Business & Investment Opportunities in Papua New Guinea” at Wisma FMM, Kuala Lumpur for MASSA and FMM members.
Tan Sri Dato’ Soong Siew Hoong, FMM Council Member and MASSA EXCO member delivered the Welcome Remarks and H.E. Peter Vincent OL, High Commissioner of Papua New Guinea to Malaysia delivered the Welcome Address at the event.
(left) H.E Peter Vincent OL, High Commissioner of Papua New Guinea to Malaysia and (right) Tan Sri Dato’ Soong Siew Hoong, FMM Council Member and MASSA EXCO Member
The following papers presented at the event are as follow:-
1) Mr Philemon Senginawa, First Secretary, PNG High Commission,
Kuala Lumpur on “Papua New Guinea: Your Investment
Destination”
Mr Philemon Senginawa, First Secretary, Papua New Guinea High Commission in Kuala Lumpur
2) Mr Ahmad Nasaruddin Mohd Noor, Senior Manager, ASEAN &
Oceania Section, Exports Promotion & Market Access Division,
MATRADE on “Business Opportunities in Papua New Guinea”
Mr Ahmad Nasaruddin Mohd Noor, Senior Manager, ASEAN & Oceania Section, Exports Promotion & Market Access Division, MATRADE
3) Mr Nicholas Wong, General Manager-Commercial, Carpenters
Shipping on “The General Cost and East of Doing Business in
Papua New Guinea”. Carpenters Shipping is a Malaysian company
operating in Papua New Guinea.
4) Dato’ Andy Kuek of Grand Columbia, a licenced finance corporation
operating in Papua New Guinea
Other papers presented were:-
1) How to invest in Papua New Guinea
2) Investment Opportunities in Papua New Guinea
3) Investment Regulatory Guidelines
4) Trade and Investment Incentives in Papua New Guinea
(right) Ms Ng Su Fun, Executive Secretary MASSA and MASSA members at the briefing session
ASEAN Data Analytics eXchange (ADAX)
ASEAN Data Analytics eXchange (ADAX)
ASEAN Data Analytics eXchange (ADAX) is an initiative by Malaysia Digital Economy Corporation (MDEC) to enable businesses, governments, academia and professionals to rapidly adopt Big Data and Data Analytics as a tool to empower decision making and innovation. It was established at the end of 2016 as a result of a successful public private partnership between MDEC and Ansys Sdn Bhd to build and enhance Malaysia’s big data ecosystem.
First launched in March 2017 as Malaysia’s and the world’s first physical data exchange, ADAX is based in Bangsar South, Kuala Lumpur and seeks to be the definitive Data Analytics Exchange Hub for knowledge, information, resources and collaboration for the ASEAN region.
ADAX is mandated to build a critical mass of talent pool in the Big Data Analytics category while developing the ecosystem and fostering collaboration amongst businesses, start-ups, academia and professionals so that Data Analytics becomes an integral part of business innovation and decision making.
The ADAX office is located at The Vertical, Bangsar South, Kuala Lumpur
The dedicated in-house data scientist team at work
Functions
ADAX focuses on four pillars to drive their initiatives:
Training & Education – For students & working professionals to develop cutting-edge, innovative data analytics and entrepreneurship skills in physical and virtual classrooms.
Best Practices – Provide knowledge to start-ups and organizations on data analytics.
Industry Development – Engage with businesses and educational institutions to nurture and harness analytics through various initiatives.
Advocacy – Partnering with industry players to grow the big data and analytics ecosystem.
In collaboration with industry leaders and education providers, ADAX offers Massive Open Online Courses, Job Matching, Shared Training & Tech Labs, organise Hackathons, provide accelerator programme and facilitate industry Collaboration.
Data Star
Data Star is shaping the future data professionals of ASEAN and will help Malaysian achieve 20,000 data professionals by 2020
In an effort to accelerate the talent development of data professionals in Malaysia, ADAX and MDEC in partnership with universities and leading industry partners collaborated to introduce the Data Star programme. The Data Star Programme is a 6-month finishing school for graduates that includes two months of intensive data science enablement and mentorship with experienced data scientists and placement at industry partners. It is expected to help Malaysia achieve 20,000 data professionals by 2020.
The learning paths have been curated in accordance with the Data Professional Skills Framework, a platform to support data and analytics knowledge development focused on three areas: Data Engineer, Data Analyst and Data Scientist.
Students will be provided with the foundation skill sets for each of the knowledge areas. Courses would include lectures and labs sessions, hands-on programming and interactive sessions. Each of the learning paths includes a mentorship, project presentation and soft skill development days.
Graduates with a PhD, Masters or Bachelors in Mathematics/Statistics, Computer Science, Actuarial Science, Engineering, Economics or Science are invited to apply while a knowledge in programming is an added advantage.
Participants of the Data Star programme gain mentorship with industry experienced data scientists, relevant business exposure and are provided an allowance during the training sessions and industry placement.
Data Star’s first intake was on the 24th of July 2017
Data Science Enablement
ADAX acts as a physical infrastructure for start-ups and provides members with access to readily available data analytics platform. ADAX provides education and training for businesses and organisations to better understand and embrace BDA.
Delivery, Technology and Industry Partners
ADAX works closely with several local and internationally renowned delivery partners to ensure the highest quality of services. These include IBM, Microsoft, CADS, SAS, Open Data Institute, FusionEx, EY, Iverson, Quandatics, ABeam Consulting, ITrain, Databyte Academy and Dream Catcher. ADAX also counts Cloudera Inc, Sedania Innovator Berhad, Hewlett Packard Enterprise, TDATA Corporation (Malaysia) Sdn Bhd and DataMicron Systems Sdn Bhd as technology partners.
Currently, ADAX has several partners that offer industry placements for participants who take part in the programmes offered by ADAX. These industry partners include Kasatria, Fave, Celcom, Petronas, GHL, Leo Burnett, Hong Leong Bank, Tapway, Datalynx, FusionEx, MDEC, Astro, Maybank and Quandatics.
Contact Details
ASEAN Data Analytics eXchange (ADAX)
Level 27, Tower B
Vertical Business Suites Avenue
3, Bangsar South
59200 Kuala Lumpur
Tel: +603-2724 2700
Email: info@adax.asia
Website: www.adax.asia
Country Feature: Papua New Guinea
Papua New Guinea Flag
Papua New Guinea Emblem
Papua New Guinea Map
PAPUA NEW GUINEA
How to Invest in Papua New Guinea
Investment Regulatory Guidelines
Trade and Investment Incentives in Papua New Guinea
Papua New Guinea: Your Investment Destination – Business Opportunities & Incentives by Mr Philemon Senginawa, First Secretary, Papua New Guinea, High Commission, Kuala Lumpur
Back to top
Back to top
Back to top
Back to top
Business Opportunities in Papua New Guinea by Mr Ahmad Nasaruddin Mohd Noor, Senior Manager, ASEAN & Oceania Section, MATRADE
Back to top
Back to top
Back to top
How to Invest in Papua New Guinea
Page 1
Page 2
Back to top
Investment Opportunities
Page 1
Page 2
Back to top
Investment Regulatory Guidelines
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Back to top
Trade and Investment Incentives in PNG
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Back to top
Contact Details
PAPUA NEW GUINEA HIGH COMMISSION
No. 11, Lingkungan U Thant
Off Jalan U Thant
55000 Kuala Lumpur
MALAYSIA
Tel: +603-4257 5405
Fax: +603-4257 6203
Email: kundukl@pnghicomkl.my
Website: pnghicomkl.my
Editorial
Season’s Greetings and a Happy New Year 2018 from the MASSA Secretariat.
MASSA had a few visitors and events in the last quarter of 2017.
A MASSA delegation participated at the 5th Showcase Malaysia in Dhaka, Bangladesh. This 5th edition attracted participation of more than 60 companies ranging from Malaysian manufactured products and services that included medical, tourism, education, engineering and consultancy.
MASSA continued to engage with the High Commission of Papua New Guinea and together with FMM organised a seminar on “Doing Business with Papua New Guinea” on 8 December 2017. YBhg Tan Sri Dato’ Soong Siew Hoong, MASSA’s EXCO member and also FMM Council Member, chaired the meeting. With the encouragement of the High Commissioner of Papua New Guinea, MASSA together with FMM will be organising a Business Mission to Papua New Guinea from May 7-12, 2018. We look forward and encourage members to join this mission to Papua New Guinea. MASSA has featured an article on Papua New Guinea in this edition of the newsletter.
Another burgeoning country MASSA has been engaging is Mongolia. A senior delegation from M/s Erdenes Mongol LLC made a working visit to Malaysia from 4–6 October 2017. Erdenes Mongol LLC is a Mongolian Government Corporation, founded in 2007 with a mandate to represent the Government of Mongolia’s interest in strategic mineral assets in the country. They have extended an invitation to MASSA to organise a visit to Mongolia. This is in the planning for 2018. We encourage members to look out for our weekly circulars informing you of these upcoming events.
We take this occasion to thank all members, associates, sponsors and contributors for assisting us in the publication of our E-Newsletter throughout 2017. We look forward to your continuing support as we bring to members interesting and useful articles that can add value to your business endeavours to expand to the South-South countries.
Thank you and best wishes for 2018.
Ng Su Fun
MASSA Secretariat
President’s Message
Greetings and Best Wishes for 2018.
The Malaysian economy in 2017 prevailed in the midst of many challenges, globally and domestically. The Malaysian Institute of Economic Research (MIER) recently revised its projection for Malaysia’s economic growth for 2017 to 5.6% from its earlier forecast of 5.4%. This is premised upon stronger domestic demand and reinforced by stronger external demand and robust exports. This augurs well for Malaysia going forward.
The Malaysian Government has embarked on transforming the country’s economy along the path of an innovation-led growth. This transformation is closely linked to the global evolution spurred by the Fourth Industrial Revolution (or known as Industry 4.0). Industry 4.0 is bringing about unparalleled changes to production methods and consumption patterns. It has shown the potential to raise global income levels and improve quality of life through access to the digital world.
The private sector now has a new range of business opportunities brought on by Industry 4.0. The Digital era has introduced new business enablers, amongst others, innovative payment systems, new marketing solutions supported by big data and analytics, industrial automation aided by robotics, giving rise to the need for talent upgrading and upskilling. All these can enable businesses to grow in a more effective, equitable and sustainable way. The South-South markets in which we operate in, will directly benefit from this digital push.
MASSA’s primary objective is to reach out, identify and assist its members to spread their wings and tap into a bigger customer base as well as gain access to new resources that the South-South markets can provide.
I appreciate the continuing support and cooperation of all members and your participation in the activities and programmes organised.
I wish you all a happy, healthy and successful 2018.
Tan Sri Azman Hashim
President