Building & Investment (Jan - Feb 2016) (Jan - Feb 2016) | Page 36

News & Events

18th Malaysia Strategic
Outlook Conference 2016
Organised by the Asian Strategy & Leadership Institute, prominent panellists shared
insights on the economic outlook for Malaysia in 2016.
AGAINST A BACKDROP of rising costs
(living/doing
business),
depreciated
Ringgit, weak oil and commodity prices,
moderate property market, uncertainties
in domestic politics and external factors
(China slowdown, threat of terrorism,
fledging world economy, etc.), what is in
store for Malaysia in 2016 and after? How
will the Malaysian economy fare and will
there be sustainable growth? How will the
global and regional scenario impact on
Malaysian business? What steps, if any,
should we strategise so as not to stagnate, or
worst, regress in our quest for high-income
status by 2020?
These posers, earlier addressed at the
recent 27th ASEAN and related Summits,
were taken up again/reviewed at the 18th
Malaysia Strategic Outlook Conference
2016 organised by the Asian Strategy &
Leadership Institute (ASLI). Themed
“Coping with Uncertainty - The Way
Forward in Difficult Times”, the day-long
event, timed at the beginning of each year,
serves to (a) assess key trends, strategic
challenges and critical issues facing the
nation in the ensuing year, (b) evaluate
economic outlook by taking stock of
current developments and their impact on
the business environment and investment

YB Datuk Seri Panglima Madius Tangau,
Minister of Science, Technology and
Innovation in his opening keynote address on
“Outlook for Innovation and Technology - The
Way Forward for Malaysia”.
32 Building & Investment | www.b-i.biz

FROM LEFT: Tan Sri Dr Lau Ban Tin (B.I.G. Industries), Mr Edward Clayton (PwC Consulting
Associates), Mr Tay Kay Luan (Asian Institute of Chartered Bankers) and Tan Sri Michael Yeoh
(CEO of ASLI).
PANELLISTS AND TOPICS:
“Malaysia’s Economic Outlook”: Key Issues and Challenges
Mr Rafael Munoz Moreno, Senior Economist, World Bank; Prof Rajah Rasiah, Faculty of Economics
and Administration, UM and Dato’ Dr Mohd Nazri Khan, Affin Hwang Investment Bank.
“Sectoral & Industry Outlook”
Property: Tan Sri Eddy Chin, REHDA/Director MKH Group
SME: Mr. Michael Kang, President SME Association Malaysia
Shipping & Logistics: Tan Sri Dr Jason Goh, Tumpuan Megah Developments Sdn Bhd
Commodities: Tan Sri Dr Yusof Basiron, Malaysian Palm Oil Council
“The Corporate Outlook”
Tan Sri Dr Lau Ban Tim, B.I.G. Industries Bhd; Mr Edward Clayton, PwC Strategy (Malaysia) Sdn
Bhd and Mr Tay Kay Luan, CEO Asian Institute of Chartered Bankers.

climate.
Notwithstanding the general consensus
that Malaysia’s economic fundamentals
still remain robust (World Bank projects a
4.5% GDP growth for 2016 and 2017, driven
by domestic demand), with (economic)
transformation programme on track, some
concerns highlighted were:
s need for structural reforms to be
deepened to “improve public sector
performance, accelerate human capital
development and re-engineer economic
growth”
s potential markets provided by AEC and
TPPA?
s lacklustre, though stable, property
market plagued by rising costs (land,
building materials, etc.) - demand for
affordable housing (very much on the

s

agenda of 11th Malaysia Plan) remain
unabated;
excepting crude oil, major commodities
are not expected to experience fall in
prices.

Perhaps, as suggested by YB Datuk
Seri Panglima Madius Tangau, Minister of
Science, Technology and Innovation in his
keynote address, “Outlook for Innovation
and Technology – The Way Forward for
Malaysia”, the “stark” reality is that we
have to create a “national innovation
environment or innovative ecosystem”
to stay competitive, if not have, an edge
globally. “To rejuvenate the economy and
unleash the nation’s potentials”, he added,
“the key is innovation, in products, services
and business models.” Q