MY VARTHAGAM : MALAYSIAN ECONOMY THE FASTEST GROWING AMONG ASEAN-5

MY VARTHAGAM :  MALAYSIAN ECONOMY THE FASTEST GROWING AMONG ASEAN-5

KUALA LUMPUR: Malaysia stands out among the Asean-5, as it is the only economy that will likely experience faster growth in 2014, says the RHB Research Institute.

Asean-5 comprises Indonesia, Malaysia, the Philippines, Singapore and Thailand.

Malaysia's real gross domestic product (GDP) is to expand at a faster rate of 5.4% this year, after moderating to +4.7% last year.

"Domestic demand led by private investment will continue to be a key driver of growth, albeit expanding at a more moderate pace due to rising costs.

"This will likely be aided by an improvement in external demand for the country's exports, RHB Research Institute said in the economic outlook report, here today.

Real exports are set to pick up pace to +4.5% in 2014 from -0.3% last year due to steady demand from advanced economies and sustained growth in the regional economies.

Consumer spending is projected to grow at a more moderate pace of 6.0% this year, after expanding at a relatively strong pace of +7.6% in 2013.

"It will likely hold up, underpinned by stable employment conditions, rising consumerism, high savings, as well as sustained wage growth," the RHB Research Institute said.

The government remains on track to reduce its fiscal deficit further to 3.5% of GDP this year from last year's 3.9%.

This will be driven by sustained revenue expansion, stronger economic growth, more efficient spending and the implementation of expenditure reforms.

Inflation might trend up at around 3.0-3.4% this year, from +2.1% last year, after factoring in another round of fuel prices hike in the second half of 2014, the research institute said.

It also said the central bank was likely to increase the overnight policy rate (OPR) by 25 basis points towards the late third quarter 2014 to 3.25%, after keeping it unchanged at 3.0% for more than two years. – Bernama

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My Varthagam : Indonesia, Malaysia Lead Way in ASEAN Trade Opportunity: HKTDC Research

MY Varthagam : Indonesia, Malaysia Lead Way in ASEAN Trade Opportunity: HKTDC Research

Consumer markets in Indonesia and Malaysia are emerging as frontrunners among Association of Southeast Asian Nations (ASEAN) countries, according to new research from the Hong Kong Trade Development Council. HKTDC Principal Economist (Asian and Emerging Markets) Dickson Ho provides details about which types of products and segments of the population in those countries are most promising for small and medium-sized enterprises.

Source: HKTDC

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My Varthagam : ICT's Contribution to the Malaysian Economy

My Varthagam : ICT's Contribution to the Malaysian Economy

Right now, we can say the ICT related economy contributes about 10% - 12% of our GDP, but we are not really happy with that. We are pushing so that the ICT related economy should be able to contribute about 17% to the Malaysian economy by 2020.

More at the prospect group

My Varthagam

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"TALK ONLY NO ACTION" IN INDIAN ECONOMIC EQUITY PARTICIPATION

"TALK ONLY NO ACTION" IN INDIAN ECONOMIC EQUITY PARTICIPATION

A simple survey carried out my Klang Indian Chamber of Commerce reveal that awareness among Malaysian Indian on government commitment of increasing 3% Equity is very low.

Some 64% of respondent says they unaware of Malaysian Indian 3% Economic Equity target set by Federal Government since 2001.

While only 26% of 500 total respondents answered that the 3% Equity target was set by then Prime Minister Mahathir Mohamad in 2001.

The survey result indicates Federal Governments "TALK ONLY NO ACTION" when comes to their commitment of increasing 3% Malaysian Indian Economic Equity participation announce in the Parliament when presenting The Third Outline Prospective Plan on 3rd April 2001 by then Prime Minister Dr Mahathir Mohamad.

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PRESS RELEASE : KICC SUPPORTS HINDRAF's ECONOMIC UPLIFTMENT REQUEST

Klang Indian Chamber of Commerce [KICC] strongly support Hindraf's call for political parties to endorse it's blueprint on upliftment of Indian community.  The request for land allocation for 20,000 Indian farmers for next 5 years could pave to contribute to the economic development of the community. If the system managed properly the nations demand for meat and milk can be met as well as contribution from agricultural activities undertaken by the farmers.

Since , 2001 the government has been playing hide and seek games on their commitment  to increase Indian Economic Equity to 3% without any concrete studies or workable master plan to achieve it despite been 12 years since first announced in parliament by then Prime Minister Dr. Mahathir Mohamed.

In order to meet the targeted 3% Economic Equity, KICC calculated that each and every Malaysian Indian  must able to invest RM80,000 in shares or unit trust. Which means, a family of 5 must able to save some RM400,000 per family above their normal savings and daily expenses. Until unless there is a concrete and workable master plan such as  Hindraf's request for lands for productive agricultural activities.

KICC President M Shanmugan, Vice President P.Peramasivam, Executive Secretary S. Arikrishnan and it's Executive Committee Member M. Puspanathan visited Hindraf Chairman P Waythamoorthy whom on hunger strike for past 11 days at Rawang. During, the visit KICC pledged cooperation to P Waythamoorthy while prayed for his well being.

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Simple Survey on Malaysia Indian Economic

Inviting all Malaysian Indian Entrepreneurs and Professionals to assist us in answering a simple survey on Malaysian Indian Economic Development as below.

START

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Malaysian Indian Chamber vs Malaysia Chinese Chamber of Commerce

As Klang Indian Chamber of Commerce Executive Secretary and one of the founder, I always encounter " What is the Benefit of Joining an Indian Chamber of Commerce ?" It's not an easy task to responding to Indian business owners.

Recently,  I realize that major different did prevail between the both .  Indian Chamber especially the National level one always bulwark Prime Minister. Check out the Star news report on March 1, 2013.

Here is a news report by the same newspaper on the same date. A National Chinese Chamber clearly define their path being non political. The Chamber further conducted survey to study on business performance and outlook of the economic for years ahead.

The question now : Do we need a Chamber of Commerce that keep pleasing the Prime Minister each an every time or do we need Chamber of Commerce to get it's members business grow and inform Prime Minister issues that may affect our economy.

Share your thoughts here or meet us at TSUNAMI EKONOMI 8th March 2013 , 7.00 pm, Klang.

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TSUNAMI EKONOMI 8 March 2013

5 years ago we created Political Tsunami and on the 5th Anniversary let us all Business persons and NGOs get to together to create a Economical Tsunami. Let us put together our needs to Government. 

No more Begging? No to Rice Packets? No to Economic Marginalization? 

Together we can create a Better Malaysia. All concern Malaysian Indian Businesspersons and Community Leaders are invited. We need Economic Development in order to sustain continuously in this country.

Put you doubts , demands, comments here at our blog but don't attack anyone personally. No Political Agenda or try to create political mileage here. 

Our Ultimate Aim Unity within Malaysian Indian Businesspersons and Seek opportunities properly.

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Pakatan Rakyat Manifesto (Tamil & English)

Readers may download full manifesto from Pakatan Rakyat Website http://www.pakatanrakyat.my/

Klang Indian Chamber of Commerce [KICC] welcome constructive comments and views especially in terms of Economic Impact and Development that may poses challenges or create opportunities to the business communities.

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