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Malaysia Case Study Syndicate Presentation

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Malaysia Case Study Syndicate Presentation

  1. 1. SINDIKAT 5 M.Ridwan - 29112555 Machadi Dhana – 29112303 M. Khadafi – 29112324 Pedro Putu Wirya – 29112565 Seto Kusparyanti – 29112306 Yuliani Dewi - 29112321
  2. 2. Malaysia : People First ? Profile  Malaysia is divided into two main regions : peninsular Malaysia, extending southward from China and Thailand, and East Malaysia, across the China Sea from the mainland on the island of Borneo.  In 2009, the population of Malaysia was 28.3 million people ; and there are three largest ethnic groups, the native Malays 50.4 %, Chinese 23.7 %, and Indian 7.1 %.  Malaysia's per capita income was $14.700  Malaysia gained independence from Britain colony in 1957
  3. 3. Economic Condition  In Malaysia’s colonial era, the economy was dominated by the primary sector; agriculture, forestry, fishing, tin and rubber.  To free from erratic commodity prices set in international market, the new Malaysian state focused on diversifying the economy.  The country adopted an import substitution industrialization (ISI) strategy, promoting domestic production to substitute for manufactured imports.
  4. 4. Economic Condition ... continue  Overall, the 1960s saw moderate increases in wages for capital-intensive industries, but unemployment remained high and domestic demand meager.  However, the share of business owned by native Malay (bumiputera)was only 24 %, while Chinese and foreign ownership shares amounted to 27.2 % and 63.4 %.  Non-bumiputra groups felt that the government was limiting their economic opportunities, while the bumiputra were not convinced their interests were being adequately protected.
  5. 5. Economic Condition ... continue  In 1971 the Free Trade Zone Act set up special low-tariff zones to encourage companies to manufacture for export.  Price discrimination, quotas, fiscal incentives, administrative support, and government-linked corporations (GLCs) were deployed to promote economic activity and “balance” the economy.  The GLCs produced “bloated bureaucracy, high costs, low productivity and limited innovation.
  6. 6. Politic Situation and Crisis  The Policy of Prime Minister Najib Razak which is presented on March 30, 2010 : – Raising per capital income from $ 6,634 to over $ 15,000 by 2020 – Measures to improve human capital, reduce migration and privatize inefficient government- linked corporations (GLCs) – The dismantling of the new economic policy (NEP) NEP : an affirmative action program for native Malays that had alleviated racial tensions and reduced inter-racial income inequality over the previous 40 years.
  7. 7. The Situation Economy and Politic concerning the New Economic Policy (NEP) ●The economy was in the midst of a deep recession and investment had plunged from 45 % of GDP to 19 % ●The ruling political coalition, the Barisan Nasional (BN), united three of the largest political parties – UMNO, MCA and MIC ●The opposition coalition, PKR, DAP and PAS was a close contender for the ruling coalition. ●In the March 2008 election BN had not won two-thirds of the seats required to pass constitutional amendments.
  8. 8. Asian Crisis ● In March 1996, the Thai Government had been forced to purchased $4 billion in real estate developers' debt. ● In January 1997, the collapse of several major Korean and Thai firms warned of danger. ● By November 1997, Indonesia, Korea, the Philippines, and Thailand turned to the International Monetary Fund (IMF). ● On July 14, 1997, the central bank, Bank Negara Malaysia (BNM) stopped defending the currency and helplessly watched as the ringgit depreciated from RM 2.5 against the U.S. Dollar to a record low of RM 4.88.
  9. 9. Recovery ● In facing the crisis, Malaysia had done some financial reform to recover the crisis : - In July 1999, BNM announced a bank consolidation program with the objective of increasing the efficiency of the banking sector. - In May 2000, Dr. Zeti, was appointed as the seventh governor of BNM, she set out to fortify Malaysia's battered reserves and deepen the reform the financial system to reduce exposure to future contagion. ● Despite Malaysia had done financial reform, the investment collapse