Transcript 投影片 1 - Hong Kong Baptist University

Virtual Map of Malaysia
http://map.virtualmalaysia.com/index.asp
http://www.windowstomalaysia.com.my/
Federal territories
Putrajaya
Kuala Lumpur
Kelantan
Melaka
Labuan
13 states:
Johor
Pahang
Kedah
Penang
Sarawak
Perak
Perlis
Selangor
Terengganu
Negeri Sembilan
Sabah
Malaysia - A glance
Full country name: Federation of Malaysia 馬來西亞聯邦
Area: 329,750 sq km (204,445 sq mi)
Population: 25 million
Capital city: Kuala Lumpur (pop 1.5 million)
People: 50% Malay, 33% Chinese, 9% Indian,
hibiscus
plus indigenous tribes such as Orang Asli and Iban
Language: Bahasa Malaysia, English, Chinese dialects, Tamil, indigenous dialects
Religion: 52% Muslim, 17% Buddhist, 12% Taoist, 8% Christian, 8% Hindu, 2% tribal
Government: Parliamentary monarchy
GDP growth: 4-5% (2002), 6-6.5%(2003)
Per capita income: 2002 RM14098(US$3710),
Inflation rate: 1.9%
Unemployment: 3.5%
- History
Ancient Malaysia:
35,000 BC - 100 BC
Aboriginal Malays (Orang Asli) began moving down the
Malay peninsula from south-western China about 10,000
years ago
Hindu Kingdoms
100 BC - 1400 AD
First Indians were lured to the Malay Peninsula and arrived
in Kedah sometime around 100 BC, Indian traders arrived
in search of gold, aromatic wood, and spices.
Islam and the Golden
Age of Malacca
1400 AD - 1511 AD
Rule under the Cambodian-based Funan, the Sumatranbased Srivijaya and the Java-based Majapahit empires,
before the Chinese arrived in Melaka in 1405.
Islam arrived in Melaka at about the same time and spread
rapidly.
Malacca was founded in 1400
by a fleeing Palembang
prince named Parameswara.
Perfectly located for trade,
within 50 years it was the
most influential port in S.E. Asia.
Colonial Malaysia
1511 AD - 1957 AD
Melaka's wealth soon attracted European powers, and the
Portuguese took control in 1511, followed by the Dutch in 1641.
The British established a thriving port in Penang in 1786 and
took over Melaka in 1795
British colonised the peninsula when tin and rubber were
discovered and developed, British also brought large numbers
of Indians into the country, altering the peninsula's racial mix.
Sarawak came into British hands via the adventurer Charles
Brooke in 1841 after suppressing a revolt against the Sultan of
Brunei and the North Borneo Company administered Sabah
from 1882. Britain took formal control of both Sabah and
Sarawak after WWII.
The Japanese overran Malaya in WWII
Independence and
Onward: 1957 –
present day
Malaya achieved independence in 1957. Sabah, Sarawak
and Singapore combined with Malaya to establish Malaysia
in 1963, but two years later Singapore withdrew from the
confederation.
1963 had the 'Confrontation' with Indonesia.
1969, violent riots broke out between Malays and Chinese
since then all races lived in relative peace together
Political System (http://www.windowstomalaysia.com.my/gov/20.htm)
The Federation of Malaysia is a constitutional monarchy with a system of
parliamentary democracy. Malaysia is a federal one, with each (13) state having
its own legislature, but power is centralized in the national government.
General elections are held every five years. The Barisan National, is a coalition
of various political parties with the main party being UMNO, which continues to
rule the government.
Malaysia Political Parties:
国家阵线 Barisan Nasional
国家马来人统一机构(巫统) United Malay National Organisation (UMNO)
马华公会 Malaysian Chinese Association (MCA)
人民进步党 People's Progressive Party of Malaysia (BARU)
泛马伊斯兰教党 Pan Malaysian Islamic Party (PAS)
民主行动党 Democratic Action Party (DAP)
人民运动党 Malaysian People's Movement Party
人民党 Parti Rakyat Malaysia
社会党 Socialist Party of Malaysia
沙巴进步党 Sabah Progressive Party (SAPP)
沙巴民主党 Parti Liberal Demokratik-SABAH (LDP)
沙巴团结党 Parti Bersatu Sabah (PBS)
砂劳越人民联合党 Sarawak United People’s Party (SUPP) )
联合人民正义党 Parti Keadilan Nasional
印度人国民大会党 Malaysian Indian Congress
The Monarch - Head of State
The Malaysian monarchy is a unique system
as its King is rotational elected every 5 years
and is not hereditary.
Here the King or the ‘Yang di-Pertauan Agong’ is
elected every five years from 9 royal states.
Unlike the traditional system where the Monarch
ascends the throne through lineage and remains
until his abdication or death.
Royal Regalia
Royal Head Dress
(Royal Short Keris)
Sultan of Perlis was elected as
the 12th Yang di Pertuan
Agong of Malaysia on 25th
April 2002.
(Royal Tiara)
Head of Government
Prime Minister Official &
Cabinet Ministers of Malaysia
http://www.virtualmalaysia.com/Malaysia/Ministries/
PERDANA PUTRA BUILDING
(PRIME MINISTER'S OFFICE)
Putrajaya the New Government City
Malaysia has undergone tremendous growth and prosperity, and has
arguably made significant progress in race relations. Many attribute
the country's success to the dynamic leadership of Prime Minister
Mahathir bin Mohammed, who has led the country since 1981.
He is scheduled to step down on the end of October 2002 to finish the
longest 22-years government administration among the Asia.
Senators, whether appointed or elected,
serve a six-year term,
House of
Representatives
are elected for a 5year term in a single
member
constituency system
Religions
Islam is the national religion,
but freedom of religion is guaranteed.
Malays are usually Muslims.
Chinese are predominately Taoists and Buddhists, some are Christians.
Majority Malaysia's Indian are mainly Hindu, a small percentage are
Muslims, Christians and also Sikhs.
East Malaysia have converted to Christianity although others still follow
their animist traditions.
Cultures have been meeting and mixing in Malaysia
The Malay people and the Islam in Malaysia:
Though Islam originates from Saudi Arabia
The Malays do not accept all cultural values from the Arab,
there is a difference between the Islam how it is practised in
the Arab States in Middle East (so-called "desert-Islam") and
in Malaysia, the "tropical Islam".
Moslem New Year - Ma'al Hijrah / Awal Muharram (March)
"Selamat Tahun Bahru!" - A happy New Year!
Malaysia Fest is a two-week affair held in September
Hari Raya Puasa: (Ramadan or festival of break-fast-time).
It is a celebration marking the end of Muslim month of fasting
and abstinence. (October- November)
Hari Raya Haji - the pilgrimage to Mecca (February)
Chinese Culture in Malaysia
Chinese New Year,
Dragon Boat Festival,
Moon-cake Festival
Opera, Lion Dance and others
Indian’s Thaipusam: a day of
consecration to the Hindu deity. A
feature is carrying a frame
decorated with colorful papers,
tinsels, fresh flowers, and fruits as a
form of penance (January/February)
The Panguni Utthiram Festival
This is an auspicious date for worship on the full
moon day of the Tamil month Panguni (March-April).
Indian New Year (April)
Guidelines on the Do's & Don'ts
Take off your shoes when entering a place
of worship or a Malaysian home.
Impolite to cross your legs with shoes facing other person.
Don’t point your finger to others in most situation
Avoid liquor and dishes which contain pork to serve Muslims.
If your guest is an Indian Hindu, avoid serving him beef.
Use right hand to shake hands, but kissing hand or cheek should be avoided.
Muslim women prefer not to shake hands, a simple nod and smile is sufficient.
Visitors should dress modestly in the conservative rural areas.
Impolite to wear shorts to a place of worship or a function, except beach party.
Some Malay expressions
Terima kasih.
(Thank you.)
Sama-sama.
(You're welcome)
Tolong
(Please!)
Apa khabar?
(How are you?)
Selamat pagi.
(Good morning)
Ma’afkan saya.
(Excuse me/I'm sorry)
Berapakah harganya? (How much is it?)
Tak apa
(It's okay)
Malaysia Special Tropical Fruits and Agriculture
"The King of the fruits“
"The Queen of the fruits"
Durian
Mangosteen
Jackfruit
cocoa
Rubber
Rambutan
Palm Oil
Malaysia Economic System
The core of Malaysian economic system is free market with private enterprises.
Government also plays an active role in development planning to promote balanced
economic growth and social progress.
Malaysia is essentially a trade-oriented and open
economy with exports and imports for over 176% of
the GNP in the early 1990s. Exports play a dominant
role and important determinant of the state of
economic activity over the short and medium terms.
Malaysia Economic Development and Policies
Phase 1: 1957~1970 After Independence
Policy: Self-sufficiency, open, market-oriented economy with min. interventions
Rubber and Tin are the major products (Shared 85% of total exports)
1st and 2nd 5-year economy plans:
• Reforms on land and diversify agricultural outputs,
i.e. palm oil, cocoa, pepper, timber, etc
• Restructure the reliance on rubber and tin production (colonial industries)
• Encourage manufacturing by using Import-substitution policy
Shares of
GDP (%)
1955
1960
1965
1970
1975
1980
1985
1990
1994
Agriculture
40.2
40.5
31.5
30.8
27.7
22.8
20.7
18.7
14.8
Mining
6.3
6.1
9.0
6.3
4.6
10.0
10.4
9.8
7.5
Manufacturing
8.2
8.6
10.4
13.4
16.4
20.0
19.6
26.9
31.5
Services &
others
45.3
44.8
49.1
51.3
49.5
47.2
49.3
46.1
48.8
Source: Malaysia Statisitcs Dept.
Rural development plan:
(1) Diversify agriculture products
- introduce technology to produce industry crops,
i.e. palm oil, coco, pepper, coconut, coffee, etc.
- provide agricultural training
(2) Setup the production standard for rubber to keep
the leadership of productions and exports
(3) Green reforms among rural areas
(4) Centralize purchase price of major agriculture
(5) Land reform:
Setup FELDA to provide to farmers, 4 arcs for each migrated farmer
to new areas. Use 3.2 arcs for rubber and 0.8 arc for others.
Also provide financial support and fertilizer to farmers until harvesting
(5a) Later years introduce palm oil planting and encourage cooperate and
merge to large farming.
Phase 2: 1971~ 1990: Authoritarian Policy
New Economic Policy (NEP):
(1) Increase overall income, increase job opportunities, poverty eradication
- Directly subsidies and preferential to Malays,
- Encourage Malays to establish business,
- Enlarge the education opportunities for Malays
(2) Income re-distribution and balance economic power among races
- Restructure employment ratio: 54% Malay, 35% Chinese, 10% Indian,
- Restructure ownership shares to 30: 40: 30 for foreign, non-Malay and Malay
- Target 30% of companies are owned by Malays in 1990
(3) Export-oriented policy:
- Free Trade Zones (FTZs), Export process Zone (EPZs),
- Exemption on Licenses manufacturing warehouse (LMWs)
- 8 yrs Tax Free for foreign investors
- Expand the petroleum industry
Manufacturing sector accounts for 30.4% of GDP, and make up
86.5% of the country's total exports. The world's largest
producer of palm oil, rubber and tin, also one of the world's
leading exporters of semiconductor devices, computer hard
disk drives, audio and video products, and room airconditioners
Income differentials ratio by race and locations in Malaysia
1957/8
1970
1976
1984
1989
Chinese/Malay
2.15
2.29
2.28
1.76
1.70
Indian/Malay
1.70
1.26
1.85
1.76
1.30
2.14
1.56
1.46
2.11
1.28
1.37
1.87
1.29
1.32
1.72
Chinese/Indian
Urban/Rural
Ownership Restructuring under NEP, 1970-90
Malay (a) Individuals
(b) Trust agencies
Chinese
Indian
Foreigners
1970
1.6
0.8
27.2
1.1
63.4
1980
5.8
6.7
37.5
1.2
42.9
Source: Table10.9, 13.4, Drabble, An Economic History of Malaysia, c.1800-1990
1985
11.7
7.4
33.4
1.2
26
1990
20.3
44.9
1.0
25.1
(4) 1981 “Look East” – Resource-Base industrialization policy,
- want “know-how”, don’t want “show-how”
- heavy industries: auto (“Proton”), steel, oil & gas, paper, chemical fertilizer,…
- setup HICOM for centralize management, coordinate and monitor
- infrastructures: highway, sea-port, airport, telecommunications network
- Industrial Parks, Specialized parks, etc.
Malaysia Real GDP growth rate before 1997
1987
1988
1989
1990
1991
1992
1993
1994
1995
1996
87-96
5.4%
8.9%
8.7%
9.8%
8.7%
7.8%
8.5%
8.6%
8.3%
9.4%
8.4%
Phase 3: 1990 ~ 1997
New Development Policy (NDP)
Stress on economic growth and balance development
(1) Stress on harmonious and cooperation
(3) Liberalize investment regulations for non-Malay
The Government has instituted significant reforms by dismantling many
state-run enterprises and encouraging private enterprise to undertake
many of the country's development projects. Through promoting a free
market in some areas, the Government is also an investor in the
economy (usually as a minority partner) and controls prices on some key
commodities such as fuel and rice.
The Economy Video Clips
http://www.windowstomalaysia.com.my/vid_eco.htm
Malaysia Tax structures
Company Tax: 0 - 28%
Petroleum Income Tax: 38%
Personal Income Tax: 1- 28%
Resident individuals with chargeable income of RM30,000 (US$7,895)
and above per annum (after deduction of personal reliefs)
Sales Tax: 0 - 25%
The general sales tax is 10%. Certain essential goods, foodstuffs and building
materials are taxed at 5%, whilst cigarettes and liquor are taxed at 15% and 25%
respectively.
Service Tax: 5%
Goods include food, drinks or tobacco products provided in restaurants, bars,
snack bars, coffee houses, private clubs, etc. Services include services provided
by professionals (such as lawyers, engineers, architects, surveyors, consultants),
advertising firms, private hospitals, insurance companies, communication
companies, hotels and restaurants.
Import duty: Ad Valorem. Last few years, import duties on a wide range of raw materials,
components and machinery has abolished.
Committed to the ASEAN Common Effective Preferential Tariffs (CEPT):
Import duties on most goods from ASEAN countries will be reduced to between 0% - 5%
by the year 2003.
Labor welfare and social security
Central Provident Fund System (1957-present)
Statutory contributions under the Employees Provident Fund Act 1991
• Employers – Min. of 12% of the employees’ monthly wages
(before 1991 is 10%)
• Employees – Min. of 11% of the employees’ monthly wages
(before 1991 is 5%)
Until 55-year-old employees can withdraw from the central provident fund.
Human Resources Development
High Priority on Education
Education shared about 15% of total public expenditure allocated
under Malaysia's five-year development plans.
There are 18 public and 15 private universities, 4 oversea U.
branches, and various polytechnics and industrial training institutes
Total enrolment in public institutions of higher learning alone is
projected to reach over 250,000 in 2003,
with more than half in the science and technical disciplines.
HKBU-Economics
2003 Malaysia Field Trip
http://www.hkbu.edu.hk/~eecon/2003Malaysia/2003Malaysia01.html
Economic statistics
http://www.statistics.gov.my/English/framesetKeystats.htm
Normalized Real GDP Growth
200
1990=100
Malaysia
180
Singapore
Thailand
160
Korea
140
Indonisa
120
Philippines
100
80
1990
1991
1992
1993
1994
1995
1996
1997
Malaysia Economic Structure of GDP
(2002-Q4)
Government Services
Agriculture, forestry & fishing
Finance, insurance, real
estate & business services
Mining and Quarrying
11.4%
Other
services
7.3%
8.7%
11.6%
6.8%
30.8% Manufacturing
13.8%
3.7%
3.3%
Electricity, water & gas
Construction
Wholesale, retail, hotel & restaurants
59.9
16.8
10.2
9.2
2.3
0.7
0.6
0.2
0.0
100
Malaysia Prior to the Crisis
Causes for concern:
1.
2.
3.
4.
Economic growth above the potential output
Loss of efficiency in the economy
Rising current account deficits
Excessive Credit Expansion to the Non-Tradable Sectors
100000
Malaysia's Monetary Base and Foreign Reserves 25000 Malaysia's Trade and Current Account Balances
20000
80000
15000
60000
10000
5000
40000
0
20000
-5000
0
-10000
1980
1985
1990
Foreign Reserves
1995
2000
1980
1985
1990
1995
MONEY
CA
TOB
2000
Malaysia's Government Budget Deficit
8000
4000
0
-4000
-8000
G_DEFICIT
-12000
60
65
70
75
80
85
90
95
00
Malaysia's Production Index, CPI and PPI
160
Production Index
140
CPI
120
PPI
100
80
60
40
20
84
86
88
90
92
94
96
98
00
02
Exchange Rates: National currencies against US Dollar
The Ringgit, which had been one of the region's strongest and most stable
currencies, plunged in value from RM2.5 to the US dollar to almost RM5 to the
dollar, before the Government fixed it at RM3.8 in September 1998.
4.4
56
52
4.0
48
44
3.6
40
3.2
36
32
2.8
MALAYSIA Ringgit
2.4
28
PHILIPPINES Pesos
24
93
94
95
96
97
98
99
00
01
02
03
16000
93
94
95
96
97
98
99
00
01
02
03
48
14000
44
12000
10000
40
8000
36
6000
32
4000
28
2000
INDONESIA Rupiah
0
THAILAND Baht
24
93
94
95
96
97
98
99
00
01
02
03
93
94
95
96
97
98
99
00
01
02
03
Asian Financial Crisis:
Malaysia has been seriously affected by the Asian financial crisis with GDP
shrinking by 7.5 per cent by the end of 1998. The decline in output was mostly
observed in the construction, manufacturing and agricultural sectors. The Ringgit
depreciated by 56 per cent and the stock market fell by 50 per cent between
mid-1997 and January 1998.
The financial crisis had cost Malaysia about US$50 billion in terms of purchasing
power of imports and US$150 billion in market capitalisation.
Several Government-funded mega-projects were put on hold following the
implementation of the National Economic Recovery Plan (NERP), drawn up by
the National Economic Action Council (NEAC), to counter the negative effects
of the Ringgit depreciation and the collapse of the stock market.
Economic Recovery Plan after 1997
http://mir.com.my/lb/econ_plan/index.htm
Malaysia Budget – Keynesian Approach
http://mir.com.my/lb/budget2002/index.htm
Six Objectives of the Economy Recovery Plan
and Actions after the Asian Crisis
1. Stabilizing the Ringgit :
a. Appropriate choice of exchange rate regime
b. Increase external reserves
c. Reduce an over-dependence on the US dollar
d. Adopt a balanced interest rate policy
2. Restoring the market confidence
a. Improve transparency and the regulatory environment
b. Establish rules for assisting industries and companies
c. Increase the consistency of government policies
d. Adopt liberal market-based policies
e. Improve public relations
f. Improve the dissemination of economic information
3. Maintaining Financial Market Stability
a. Preserve the integrity of the banking system
b. Establish agencies along the lines of the Resolution Trust Corporation
(RTC) and the Federal Deposit Insurance Corporation (FDIC)
c. Recapitalise the banking sector
d. Monitor closely overall credit expansion
e. Improve the capital market
f. Develop the private debt securities (PDS) market
4. Stranghtening Economic Fundamentals
a. Increase the quality of investments
b. Improve the balance of payments
c. Maintain a balanced public sector financial position
d. Maintain an appropriate monetary policy
e. Maintain price stability
f. Increase labor competitiveness
5. Continuing the Equity and Socio-economic Agenda
a. Ameliorate the hardship from poverty
b. Address Bumiputera equity ownership
c. Expand employment opportunities
d. Meet the challenge of expanding tertiary education
e. Address graduate unemployment
f. Control the influx of foreign workers
g. Gear up state corporations to face the crisis
h. Revamp cooperatives and cooperative banks
i. Protect the Environment
6. Restoring adversely affected Sectors
Address and restore the following sectors:
Primary commodities and resource-based industries , Mining and petroleum
Manufacturing , Information Technology and the Multimedia Super Corridor
Motor industry , Construction , Property , Infrastructure , Transport
Freight Forwarding , Tourism , Banking , Insurance and Reinsurance
The Malaysia Government has responded immediately by putting in place
measures to prevent further deterioration in the economy.
Steps are being taken to reduce dependency on external trade, while more
attention is given to domestic economic activities as well as the new
markets, which will be expected to lead in the nation's economic growth in
2002 and the years ahead.
Liberalisation of Equity Policy in the Manufacturing Sector
After July 1998, foreign investors are allowed to hold 100% of the
equity in all manufacturing projects, with the exception of 7 activities
and products comprising paper packaging, plastic packaging, plastic
injection moulded components, metal stamping and metal fabrication,
wire harness, printing and steel service centers
Since Jun 2003, to further improve the investment climate,
the government has decided to fully liberalise equity holdings
in all manufacturing projects, irrespective of the level of
exports and without any product/activity being excluded.
Liberalisation Policy on the Employment of Expatriates in the
Manufacturing Sector.
To address the need for high level expertise in the manufacturing
sector, the Government has further liberalized the policy on the
employment of expatriates in the manufacturing sector.
Automatic approval for up to 10 expatriate posts, including 5 key posts.
Expatriates can be employed for up to a maximum of 10 years for executive
posts, and 5 years for non-executive posts.
Recovery in Malaysia
130
Normalized Real GDP Growth
1997=100
Korea
120
Singapore
Philippines
110
Malaysia
100
Thailand
90
Indonisa
80
1997
1998
1999
2000
2001
2002
Challenges Remain
Salaries of Executives in the Manufacturing Sector (2001)
Salaries of Non-Executives in the Manufacturing Sector (2001)
House Price
RM 300,000 – 700,000