Economy of Malaysia

Economy of Malaysia
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Economy of Malaysia
Fixed exchange
1 Ringgit = 100 sen
rates
Fiscal year Calendar year
Trade
APEC, ASEAN, IOR-ARC, WTO
organisations
Statistics
$381.1 billion (2009 est.)
GDP
Rank: 30
GDP growth -2.2% (2009 est.)
GDP per capita $14,800 (2009 est.)
agriculture: 10.1% industry: 42.3% services: 47.6%
GDP by sector
(2009 est.)
Inflation (CPI) 0.4% (2009 est.)
Population
3.5% (2007 est.)
below poverty line
Labour force agriculture: (13%), industry: (36%), services: (51%)
by occupation (2005)
Unemployment 5% (2009 est.)
Peninsular Malaysia - rubber and palm oil
processing and manufacturing, light manufacturing
Main industries industry, electronics, tin mining and smelting,
logging and processing timber, tourism, petroleum
production and refining, logging
Ease of Doing
21st[1]
Business Rank
External
Exports $156.4 billion (2009 est.)
electronic equipment, petroleum and liquefied
Export goods natural gas, wood and wood products, palm oil,
rubber, textiles, chemicals
Singapore 13.9%, China 12.2%, United States
Main export
10.9%, Japan 9.8%, Thailand 5.4%, Hong Kong
partners
5.2% (2009 est.)
Imports $119.5 billion (2009 est.)
electronics, machinery, petroleum products, plastics,
Import goods
vehicles, iron and steel products, chemicals
China 13.9%, Japan 12.5%, Singapore 11.1%,
Main import
Thailand 6%, Indonesia 5.3%, South Korea 4.6%,
partners
Taiwan 4.2%, Germany 4.2% (2009 est.)
Gross external debt N/A
Public finances
Revenues $61.6 billion (2009 est.)
Expenses $60.72 billion (2009 est.)
Economic aid $31.6 million (2005)
Foreign reserves $98.02 billion (31 December 2009 est.)
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars
The Economy of Malaysia is a growing and relatively open state-oriented and newly
industrialised market economy.[2][3] The state plays a significant but declining role in guiding
economic activity through macroeconomic plans. In 2007, the economy of Malaysia was the 3rd
largest economy in South East Asia and 29th largest economy in the world by purchasing power
parity with gross domestic product for 2008 of $222 billion[4] with a growth rate of 5% to 7%
since 2007[5] In 2009, GDP per capita (PPP) of Malaysia stands at US$14,900.[6] In 2009, the
nominal GDP was US$383.6 billion, and the nominal per capital GDP was US$8,100.[7]
The Southeast Asian nation experienced an economic boom and underwent rapid development
during the late 20th century and has a GDP per capita of $14,800, being considered a newly
industrialized country.[8][9] On the income distribution, there are 5.8 million households in 2007.
Of that, 8.6% have an monthly income below RM1,000, 29.4% had between RM1,000 and
RM2,000, while 19.8% earned between RM2,001 and RM3,000; 12.9% of the households earned
between RM3,001 and RM4,000 and 8.6% between RM4,001 and RM5,000. Finally, around
15.8% of the households have an income of between RM5,001 and RM10,000 and 4.9% have an
income of RM10,000 and above.[10]
As one of three countries that control the Strait of Malacca, international trade plays a large role
in its economy.[11] At one time, it was the largest producer of tin, rubber and palm oil in the
world.[12] Manufacturing has a large influence in the country's economy.[13] Malaysia is the
world's largest Islamic banking and financial centre.
Contents
[hide]
• 1 Background
○ 1.1 Early and colonial history
○ 1.2 Post-independence
○ 1.3 Tiger economy
 1.3.1 Macro-economic trend
○ 1.4 Asian financial crisis and recovery
• 2 Economic policies
○ 2.1 Monetary policy
○ 2.2 Affirmative action
○ 2.3 Subsidies and price controls
○ 2.4 Sovereign wealth funds
○ 2.5 Government influence
• 3 Currency system
○ 3.1 Ringgit
• 4 Natural resources
• 5 Business environment
• 6 External trade
○ 6.1 Free trade efforts
• 7 Foreign direct investment
• 8 Sectors
○ 8.1 Industry
○ 8.2 Finance and banking
○ 8.3 Oil and gas
○ 8.4 Tourism
○ 8.5 Science and technology
○ 8.6 Others
• 9 See also
• 10 References
• 11 External links
[edit] Background
[edit] Early and colonial history
The Malay Peninsula and indeed Southeast Asia has been a center for trade for centuries.
Various items such as porcelain and spice were actively traded even before Malacca and
Singapore rose to prominence. The Malacca Sultanate controlled the Straits of Malacca from its
founding in 1402 to the 1511 invasion by Portugal. All the trade in the Straits, and especially the
spices from the Celebes and the Moluccas, moved under its protection and through its markets.[14]
In the 17th century, porcelain and spices were found in several Malay states and were actively
traded. Large deposits of tin were found in several Malay states. Later, as the British started to
take over as administrators of Malaya, rubber and palm oil trees were introduced for commercial
purposes. Instead of relying on the local Malays as a source of labour, the British brought in
Chinese and Indians to work in the mines and plantations and provide professional expertise.
Although many of them returned to their respective home countries after their agreed tenure
ended, some remained in Malaysia and settled permanently. Over time, Malaya became the
world's largest producer of tin, rubber, and palm oil.[citation needed] These three commodities along
with other raw materials firmly set Malaysia's economic tempo well into the mid-20th century.
As Malaya moved towards independence, the government began implementing economic five-
year plans, beginning with the First Malayan Five Year Plan in 1955. Upon the establishment of
Malaysia, the plans were re-titled and renumbered, beginning with the First Malaysia Plan in
1965.
[edit] Post-independence
In the 1970s, Malaysia began to imitate the four Asian Tiger economies (Republic of Korea
(South Korea), Republic of China (Taiwan), then British Crown Colony of Hong Kong and the
Republic of Singapore) and committed itself to a transition from being reliant on mining and
agriculture to an economy that depends more on manufacturing. In the 1970s, the predominantly
mining and agricultural based Malaysian economy began a transition towards a more multi-
sector economy. Since the 1980s the industrial sector has led Malaysia's growth.[15] High levels
of investment played a significant role in this.[16] With Japanese investment, heavy industries
flourished and in a matter of years, Malaysian exports became the country's primary growth
engine[citation needed]. Malaysia consistently achieved more than 7% GDP growth along with low
inflation in the 1980s and the 1990s.[17]
Central planning has been a major factor in the Malaysian economy, as government expenditure
was often used to stimulate the economy. Since 1955, with the commencement of the First
Malayan Five Year Plan, the government has used these plans to intervene in the economy to
achieve such goals as redistribution of wealth and investment in, for instance, infrastructure
projects.[18]
A legacy of the British colonial system was the division of Malaysians into three groups
according to ethnicity. The Malays were concentrated in their traditional villages, focusing
mainly on agricultural activities, while the Chinese dominated Malaysian commerce. Educated
Indians took up professional roles such as those of doctors or lawyers, while the less better-off
worked the plantations.[19][20] The Reid Commission which drafted the Malaysian Constitution
made a provision for limited affirmative action through Article 153, which gave the Malays
special privileges, such as 60% of university entrance (quota). However, after the May 13
incident of racial rioting in the federal capital of Kuala Lumpur, the government initiated more
aggressive programmes aimed at actively establishing a Malay entrepreneurial class through
direct intervention in the economy, aimed at alleviating poverty. This was done with the
controversial New Economic Policy (NEP).[21] Its main objective was the elimination of the
association of race with economic function, and the first five-year plan to begin implementing
the NEP was the Second Malaysia Plan. The success or failure of the NEP is the subject of much
debate, although it was officially retired in 1990 and replaced by the National Development
Policy (NDP). Recently much debate has surfaced once again concerning the results and
relevance of the NEP. Some have argued that the NEP has indeed successfully created a
Middle/Upper Class of Malay businesspeople and professionals.
Despite some improvement in the economic power of Malays in general, the Malaysian
government maintains a policy of discrimination that favours ethnic Malays over other races—
including preferential treatment in employment, education, scholarships, business, access to
cheaper housing and assisted savings. This special treatment has sparked envy and resentment
amongst non-Malays.[22] The ethnic Chinese control of the locally owned sector of the country's
economy has been ceded largely in favour of the bumiputra/Malays in many essential or strategic
industries such as petroleum retailing, transportation, agriculture and automobile manufacturing.
Current GDP per capita grew 31% in the Sixties and an amazing 358% in the Seventies, but this
proved unsustainable and growth scaled back sharply to 36% in the Eighties. It rose again to
59% in the Nineties led primarily by export-oriented industries.[23] The rate of poverty in
Malaysia also fell dramatically over the years. However, its precipitous drop has been questioned
by critics who suggest that the poverty line has been drawn at an unreasonably low level.[24] The
rapid economic boom led to a variety of supply problems. Labour shortages soon resulted in an
influx of millions of foreign workers, many illegal. Cash-rich PLCs and consortia of banks eager
to benefit from increased and rapid development began large infrastructure projects.
As of 2006, the most recent five year plan is the Ninth Malaysia Plan. The five year plans have
been criticised for resembling the central planning of Soviet communism; the five-year time
frame has been attacked for being insufficient in dealing with short-term crises and long-term
trends.[25] The effectiveness of the plans has also been disputed; at the beginning of 2005, the last
year of the Eighth Malaysia Plan, almost 80% of the funds allocated under the plan had not been
disbursed.[26]
[edit] Tiger economy
[edit] Macro-economic trend
This is a chart of trend of gross domestic product of Malaysia at market prices[27] estimated by
the International Monetary Fund with figures in millions of Malaysian Ringgit.
GDP Exchange Inflation Index Per Capita Income
Year
(in millions) (1 USD to MYR) (2000=100) (as % of USA)
1980 54,285 2.17 51 14.78
1985 78,890 2.48 64 11.44
1990 119,082 2.70 70 10.47
1995 222,473 2.50 85 15.69
2000 343,216 3.80 100 11.47
2005 494,544 3.78 109 12.67
2010 ?? 3.12 ?? ??
For purchasing power parity comparisons, the US Dollar is exchanged at 1.70 Ringgit only.
Mean wages were $6.95 per manhour in 2009.
From 1988 to 1997, the economy experienced a period of broad diversification and sustained
rapid growth averaging 9% annually.
By 1999, nominal per capita GDP had reached $3,238. New foreign and domestic investment
played a significant role in the transformation of Malaysia's economy. Manufacturing grew from
13.9% of GDP in 1970 to 30% in 1999, while agriculture and mining which together had
accounted for 42.7% of GDP in 1970, dropped to 9.3% and 7.3%, respectively, in 1999.
Manufacturing accounted for 30% of GDP (1999). Major products include electronic
components – Malaysia is one of the world's largest exporters of semiconductor devices –
electrical goods and appliances.
During the same period, the government tried to eradicate poverty with a controversial race-
conscious positive program called New Economic Policy (NEP). First established in 1971
following race riots, commonly known in Malaysia as the May 13 Incident, it sought to eradicate
poverty and end the identification of economic function with ethnicity. In particular, it was
designed to improve the distribution of wealth among the country's population.. The NEP
ostensibly ended in 1991, however the policies persist in the form of other programmes such as
the National Development Policy. The policies are enforced overtly through race-based quotas
for low-cost housing units, university placement, business equity ownership, etc.
Rapid growth was achieved partly through privatisation of inefficient state owned enterprises,
thus subjecting them to commercial pressures and forcing them to better utilise their resources.
Many deals were done behind closed doors and put through rather quickly. In one example
Khazanah Nasional alienated shares in DRB Hicom to Mega Consolidated. This led to such deals
being labelled mega projects.
Foreign funds were attracted to invest making the local money market and bourse liquid. This
created opportunity for local businesses to raise capital on the KLSE, and carry out infrastructure
development in areas like telecommunications, highways and power generation to meet
bottlenecks caused by rapid industrialisation. An intense labor shortage created employment for
millions of foreign workers. Subsequent events show that more than 50% were illegal.
The influx of foreign investment led to the KLSE Composite index trading above 1,300 in 1994
and the Ringgit trading above 2.5 in 1997. At various times the KLSE was the most active
exchange in the world, with trading volume exceeding even the NYSE. The stock market
capitalisation of listed companies in Malaysia was valued at $181,236 million in 2005 by the
World Bank.[28]
Some of the more visible projects from that period are Putrajaya, a new international airport
(Kuala Lumpur International Airport), a hydroelectric dam (Bakun dam), the Petronas Towers
and the Multimedia Super Corridor. Proposals that were eventually canceled include the 95 km
Sumatra–Malaysia bridge (would have been world's longest), the Mega International Sea and Air
port on reclaimed land in Kedah (would have been world's biggest) and the KL Linear City
(would have been the world's longest mall and the world's first city built over a river).
Concerns were raised during the time about the sustainability of the rapid growth and the
ballooning current account. The mainstream opinion prevalent at that time was that the deficit
was temporary and would reverse once imported equipment started producing for export. In spite
of that, measures were taken to moderate growth especially when it threatened to overheat into
the double digits. The main target was asset prices, and restrictions were further tightened on
foreign ownership of local assets. Exposure of local banks to real estate loans were also capped
at 20%.
As was widely expected, the current account deficit did narrow steadily, year to year, from 9% to
5% of GDP.
Malaysia has the largest operational stock of industrial robots in the Muslim world.[29]
[edit] Asian financial crisis and recovery
Further information: Asian financial crisis
The year 1997 saw drastic changes in Malaysia. There was speculative short-selling of the
Malaysian currency, the ringgit. Foreign direct investment fell at an alarming rate and, as capital
flowed out of the country, the value of the ringgit dropped from MYR 2.50 per USD to, at one
point, MYR 4.80 per USD.The Kuala Lumpur Stock Exchange's composite index fell from
approximately 1300 to nearly merely 400 points in a few short weeks. After the controversial
sacking of finance minister Anwar Ibrahim, a National Economic Action Council was formed to
deal with the monetary crisis. Bank Negara imposed capital controls and pegged the Malaysian
ringgit at 3.80 to the US dollar. Malaysia refused economic aid packages from the International
Monetary Fund (IMF) and the World Bank, surprising many analysts. By refusing aid and thus
the conditions attached thereof from the IMF, Malaysia was not affected to the same degree in
the Asian Financial Crisis as Indonesia, Thailand and the Philippines.
Regardless, the GDP suffered a sharp 7.5% contraction in 1998. It however rebounded to grow
by 5.6% in 1999. The Government of Malaysia predicted 5.8% real GDP growth in the year
2000, but most analysts predicted growth will exceed 8% for the year.
In order to rejuvenate the economy, massive government spending was made and Malaysia
continuously recorded budget deficits in the years that followed. Economic recovery has been led
by strong growth in exports, particularly of electronics and electrical products, to the United
States, Malaysia's principal trade and investment partner. Inflationary pressures remained benign,
and, as a result, Bank Negara Malaysia, the central bank, had been able to follow a low interest
rate policy. The Malaysian economy recovered from the 1997 Asian Financial Crisis sooner than
neighbouring countries, and has since recovered to the levels of the pre-crisis era with a GDP per
capita of $14,800.[8][9]
The post Y2K slump of 2001 did not affect Malaysia as much as other countries. This may have
been clearer evidence that there are other causes and effects that can be more properly
attributable for recovery. One possibility is that the currency speculators had run out of finance
after failing in their attack on the Hong Kong dollar in August 1998 and after the Russian ruble
collapsed. (See George Soros)
The fixed exchange rate was abandoned on July 21, 2005 in favour of a managed floating system
within an hour of China announcing the same move.[30] In the same week, the ringgit
strengthened a percent against various major currencies and was expected to appreciate further.
As of December 2005, however, expectations of further appreciation were muted as capital flight
exceeded USD 10 billion.[30] According to Bank Negara's published figures, Malaysia's foreign
exchange reserves increased steadily since the initial capital flight, from USD75.2 billion as at 15
July 2005 (just before the peg was removed) to peak at USD125.7 billion as at 31 July 2008, a
few months before the global credit crisis that started in September 2008. As at 29 May 2009, the
reserves stood at USD88.3 billion. In spite of the large positive current account surplus, foreign
reserves have started to fall at a rapid rate. Official statistics released in March 2006, confirmed
capital flight of more than US$10 billion. However, as of the 4th fiscal year, a surge of FDI has
pushed the KLSE above 1200 points, and is expected to strengthen to pre 1997 levels.
In March 2005, the United Nations Conference on Trade and Development (UNCTAD)
published a paper on the sources and pace of Malaysia's recovery, written by Jomo K.S. of the
applied economics department, University of Malaya, Kuala Lumpur. The paper concluded that
the controls imposed by Malaysia's government neither hurt nor helped recovery. The chief
factor was an increase in electronics components exports, which was caused by a large increase
in the demand for components in the United States, which was caused, in turn, by a fear of the
effects of the arrival of the year 2000 (Y2K) upon older computers and other digital devices.
In September 2005, Sir Howard J. Davies, director of the London School of Economics, at a
meeting in Kuala Lumpur, cautioned Malaysian officials that if they want a flexible capital
market, they will have to lift the ban on short-selling put into effect during the crisis. In March
2006, Malaysia removed the ban on short selling.[31] It is interesting to note that some of the
measures taken by the Malaysian government in response to the Asian crisis, such as the ban on
short selling, were swiftly adopted by the very countries that had previously been critical of the
Malaysian response.
Regardless of cause and effect claims, rejuvenation of the economy also coincided with massive
government spending and budget deficits in the years that followed the crisis. Later, Malaysia
enjoyed faster economic recovery compared to its neighbours. The country has recovered to the
levels of the pre-crisis era – as an example, the KLCI Composite Index hit an all time high of
1,386 on 20 June 2007 which is approximately 100 points higher than the pre-crisis record of
1,275 in 1993. While the pace of development today is not as rapid, it is seen to be more
sustainable. Although the controls and economic housekeeping may or may not have been the
principal reasons for recovery, there is no doubt that the banking sector has become more
resilient to external shocks. The current account has also settled into a structural surplus,
providing a cushion to capital flight. Asset prices are generally back to their pre-crisis heights,
despite the effects of the global financial crisis. As of 21 May 2007, the Ringgit touched a nine-
year high record at 3.39 against the US dollar. Bank Negara governor Tan Sri Dr Zeti Akhtar
Aziz says the Ringgit moves up on its own merit and in line with the Malaysian economy and not
in tandem with the Chinese Yuan. Malaysia has shown the ability to absorb the crude oil price
increases and most economies have shown high resilience in absorbing higher energy prices.
Malaysia is the world's largest Islamic banking and financial centre.
[edit] Economic policies
See also: Gasoline and diesel usage and pricing in Malaysia
Like many other independent nations, Malaysia's economic policies were shaped by various
events in the nation's history since independence.
[edit] Monetary policy
Prior to the 1997 Asian Financial Crisis, the Malaysian ringgit was an internationalized currency,
which was freely traded around the world. Just before the crisis, the Ringgit was traded RM2.50
at the dollar. Due to speculative activities, the Ringgit fell as much as RM4.10 to the dollar in
matter of weeks. Bank Negara Malaysia, the nation's central banks decided to impose capital
controls to prevent the outflow of the Ringgit in the open market. The Ringgit is not traded
internationally, a traveler needs to declare to the central bank if taking out more than RM10,000
out of the country and the Ringgit itself was pegged at RM3.80 to the US dollar.
The fixed change rate was abandoned to floating exchange rate in July 2005, hours after People's
Republic of China announced the same move.[32] At this point, the Ringgit is still not
internationalized. The Ringgit continue to strengthen to 3.18 to the dollar in March 2008.
Meanwhile, many aspect of the capital control has been slowly relaxed by Bank Negara
Malaysia. However, the government continues to not internalized the Ringgit. The government
stated that the Ringgit will be internationalized once it is ready.[33]
Bank Negara Malaysia for the time being, uses interest rate targeting. The OPR (Overnight
Policy Rate) is their policy instrument, and is used to guide the short term interbank rates which
will hopefully influence inflation and economic growth.
[edit] Affirmative action
Main article: Malaysian New Economic Policy
Tun Abdul Razak, who was then the Prime Minister, implemented the affirmative action policy
named as New Economic Policy soon after May 13 Incident in 1969.[34] Prior to the incident, the
poverty rates among Malays were extremely high (at 65%) as was discontent between races,
particularly towards the Chinese, who controlled 34% of the economy at the time.[35][36] The
Chinese minority still accounts for 70 percent of the country's market capitalization.[37]
Through NEP, Bumiputera quotas are placed in housing developments, scholarship admission
and also for ownership of publicly listed companies. The quota system has been relaxed recently
since the March 8, 2008 General election. Bumiputera equity requirement for publicly listed
companies has been relaxed since 12 November 2008 by allowing those companies to remove
the quota once after IPO has been done.[38] Further liberalization in the retail sector is expected to
remove the present 30% Bumiputera listing requirements. According to the Secretary-General of
Ministry of Domestic Trade and Consumer Affairs Datuk Mohd Zain Mohd Dom said, the
amendments is reflective of Malaysia "moving towards progressive liberalisation"[39]
The Malaysian New Economic Policy was created in 1971 with the aim of bringing Malays a
30% share of the economy of Malaysia and eradicating poverty amongst Malays, primarily
through encouraging enterprise ownership by Bumiputeras. After 30 years of the program, the
NEP had somewhat met some of its goals. Bumiputera ownership increased to 18.9% in 2004
against 2.4% in 1970 and poverty decreased to 8.3% in 2004 against 64.8% in the 1970s.[35][40][41]
The NEP is accused of creating an oligarchy, and creating a 'subsidy mentality'.[42] Political
parties such as Parti Keadilan Rakyat and Democratic Action Party have proposed a new policy
which will be equal for every Malaysian, regardless of race.[43] When the Democratic Action
Party was elected in the state of Penang in 2008, it announced that it will do away with the NEP,
claiming that it "... breeds nepotism, corruption and systemic inefficiency".[44]
On April 21, 2009, the prime minister Najib Tun Razak has announce liberalisation of 27
services sub-sector by abolishing the 30% bumiputera requirement. The move is seen as the
government efforts to increase investment the service sector of the economy. According to the
premier, many more sectors of the economy will be liberalized.[45] On June 30, 2009, the premier
announces further liberation moves including the dismantling of the Bumiputera equity quotas
and repealing the guidelines of the Foreign Investment Committee, which was responsible to
monitor foreign shareholding in Malaysian companies. However, any Malaysian companies that
wishes to list in Malaysia would still need to offer 50 percent of public shareholding spread to
Bumiputera investors.[46]
[edit] Subsidies and price controls
See also Gas subsidies
The Malaysian government subsidizes and controls prices on a lot of essential items to keep the
prices low. Prices of items such as palm oil cooking oil, petrol, flour, bread, rice and other
essentials have been kept under market prices to keep cost of living low. In 2008, the
government announced that it has spent RM40.1 billion in 2007 in subsidies to keep prices
leveled.[47] As of 2009, 22 per cent of government expenditures were subsidies, with petrol
subsidies alone taking up 12 per cent.[48]
Smuggling and hoarding, which leads to shortages, is a prominent problem in Malaysia due to
the subsidies. For example, cooking oil is subsidised for domestic use only. This situation creates
an environment where industrial players hoard domestic cooking oil for industrial use. During
shortage time, such as the January 2008 cooking oil crisis, the government imposed a 5 kg limit
for each purchase to relief domestic demand. However, the limited purchase has created more
panic buying, which prompt the Government to negotiate with cooking oil manufacturers to
increase their production capacity, and the situation reverted to normal within one week.[49]
Another example is when vehicles in Thailand come to Malaysia to smuggle cheap petrol and
diesel out of the country. The government also looking into restructuring the fuel subsidy so that
the selected needy group will get the subsidy. The government is considering removing subsidies
on diesel for general consumers while maintaining subsidies for suitable groups, such as those
involved in public transport.[50]
On January 2010, the government announce dual price structure for fuel, based on citizenship.
Foreigners are expected to pay market price for fuel while citizens will have subsidy allocations
based to engine capacity. The dual pricing structure is expected to begin on May 1, 2010.[51]
The government has considered to remove the subsidies but a formal plan had yet to materialized
as of 2007.[52] In 2008, the government is considering to remove price controls on construction
materials such as cement and steel bars while banning exports to ensure steady supply.[53] The
government is experimenting with the idea through allowing Sabah and Sarawak construction
players to import steel and cement since February 2008.[54] The government then, on May 12,
2008 removed ceiling prices on steel bars and billets and removed import duties on selected
items under HS Code 7214.10 110 and 7214.20 910, which do not fully cover steel bars use by
the construction industry.[55] The government then further liberalized the cement industry by
abolishing ceiling prices on June 5, 2008.[56]
Another strategic item which is heavily subsidized but moving towards a market based approach
is Natural Gas which is used in the industrial sector. Beginning July 1, 2008, the government is
expected to reduce the gas subsidy 5% to 10% per annum over 11 years, in which the gas price
will reflect market price.[57]
[edit] Sovereign wealth funds
The government owns and operates several sovereign wealth funds that invests in local
companies and also foreign companies. One such funds are Khazanah Nasional Berhad which
was established in 1993.[58] Its objective is to help shape selected strategic industries in Malaysia
and develop those investment for the benefit of Malaysia.[59] The fund invest in major companies
in Malaysia such as Proton Holdings in the automotive sector, CIMB in the banking sector,
Pharmaniaga in the medical sector, UEM Group in the construction sector, Telekom Malaysia in
the communications industry and many other companies in many other industries.[60] It is
estimated that the fund size of Khazanah Nasional stands at around US$19 billion.[58]
Another fund that is owned by the Malaysian government is the Employees Provident Fund
which is claimed to be the fourth largest state run pension fund in Asia.[61] Like Khazanah
Nasional, the EPF invests and sometimes owns several major companies in Malaysia such as
RHB Bank.[61] EPF investment is diversified over a number of sectors but almost 40% of their
investment are in the services sector.[62] Fund size in 2007 is estimated at US$100 billion.[63]
Permodalan Nasional Berhad is a major fund manager controlled by the Malaysian Government.
It offers capital guaranteed mutual funds such as Amanah Saham Bumiputera and Amanah
Saham Wawasan 2020 which are open only to Malaysian and in some cases, Bumiputeras.[64] As
of April 2008, it manages MYR120 billion of funds (36 billion USD), of which MYR76 million
is unit trust funds.[65] The fund manager is a sizable investor in strategic companies such as MMC
Corporation Berhad,[66] Maxis Communications Berhad[67] and TM International Berhad[68]
among others.
Other than federal government funds, some states have created their own investment authority to
manage state-owned sovereign wealth funds. First of such funds are launched by the state of
Terengganu through the establishment of Terengganu Investment Authority in December 2008.
It initial fund size will be around USD 3 billion and derived from its oil royalties.[69]
[edit] Government influence
Although the federal government promotes private enterprise and ownership in the economy, the
economic direction of the country is heavily influenced by the government though five years
development plans since independence. The economy is also influenced by the government
through agencies such as the Economic Planning Unit and government-linked wealth funds such
as Khazanah Nasional Berhad, Employees Provident Fund and Pemodalan Nasional Berhad.
The government's development plans, called the Malaysian Plan, currently the Ninth Malaysia
Plan, started in 1950 during the British colonial rule.[70] The plans were largely centered around
accelerating the growth of the economy by selectively investing in selective sectors of the
economy and building infrastructure to support said sectors.[70] For example, in the current
national plan, three sectors - agriculture, manufacturing and services, will receive special
attention to promote the transition to high value-added activities in the respective areas.[71] Other
than the generalized plans like the Ninth Malaysia Plan, the government also have a development
plan that are targeted to improve the manufacturing sector which is called the Industrial Master
Plan. Currently, the plan is called the Third Industrial Master Plan (IMP3) which covers a period
from 2006 to 2020. The industrial plans aim to make Malaysia a major trading nation and build
up the country's economy and human capital.[72]
Economic Planning Unit (Malay: Unit Perancang Ekonomi), established in 1961[73] was
instrumental in steering Malaysia to recovery from the 1997 Asian Financial Crisis. The unit is
an agency under the Prime Minister's Department responsible for steering Malaysia's socio-
economic development towards achieving a developed-nation status by the year 2020 through
various measures such as preparing policies and strategies for socio-economic development,
prepare medium and long term plans for the government and most importantly, advise the
government on economic issues.[74]
Government-linked investment vehicles such as Khazanah Nasional Berhad, Employees
Provident Fund and Pemodalan Nasional Berhad invest and sometimes own major companies in
major sectors of the Malaysian economy. For example, Khanazah Nasional is a major
shareholder in Proton Holdings, an automaker and CIMB banking group in the financial sector.
[75]
The government, however, is keen to sell stakes in their companies such as Malaysia Airlines
to let the companies remain globally competitive[76]
[edit] Currency system
[edit] Ringgit
Main article: Malaysian Ringgit
The only legal tender in Malaysia is the Malaysian Ringgit. As of 20 March 2008, the Ringgit is
traded at MYR 3.18 at the US dollar.[77] The Ringgit was not internationalised since September
1998, an effect due to the 1997 Asian Financial Crisis in which the central bank impose capital
controls on the currency.[78] As a part of series of capital controls, the currency was pegged
between September 1998 to 21 July 2005 at MYR 3.80 to the dollar.[79] In recent years, Bank
Negara Malaysia beginning to relax certain rules to the capital controls although the currency
itself is still not traded internationally yet. According to the Bank Governor, the Ringgit will be
internationalised when it's ready.[80]
On September 2010, in an interview with CNBC, Dato' Seri Najib Tun Razak, which is the
Prime Minister of Malaysia and also the Finance Minister said that the government is open to
open up the Ringgit to off shore trading if the move will help the economy. He further added that
before such a move to be made, it will ensure that rules and regulation will be in place so the
currency will not be abused.[81]
[edit] Natural resources
Palm oil estate in Malaysia.

Malaysia is well-endowed with natural resources in areas such as agriculture, forestry and
minerals. It is an exporter of natural and agricultural resources, the most valuable exported
resource being petroleum.[16] At one time, it was the largest producer of tin, rubber and palm oil
in the world.[82] In terms of agriculture, Malaysia is one of the top exporters of natural rubber and
palm oil, which together with sawn logs and sawn timber, cocoa, pepper, pineapple and tobacco
dominate the growth of the sector. Palm oil is also a major generator of foreign exchange.
Regarding forestry resources, it is noted that logging only began to make a substantial
contribution to the economy during the nineteenth century. Today, an estimated 59% of Malaysia
remains forested. The rapid expansion of the timber industry, particularly after the 1960s, has
brought about a serious erosion problem in the country's forest resources. However, in line with
the Government's commitment to protect the environment and the ecological system, forestry
resources are being managed on a sustainable basis and accordingly the rate of tree felling has
been on the decline.
In addition, substantial areas are being silviculturally treated and reforestation of degraded forest
land is also being carried out. The Malaysian government provide plans for the enrichment of
some 312.30 square kilometres (120.5 sq mi) of land with rattan under natural forest conditions
and in rubber plantations as an inter crop. To further enrich forest resources, fast-growing timber
species such as meranti tembaga, merawan and sesenduk are also being planted. At the same
time, the cultivation of high-value trees like teak and other trees for pulp and paper are also
encouraged. Rubber, once the mainstay of the Malaysian economy, has been largely replaced by
oil palm as Malaysia's leading agricultural export.
Tin and petroleum are the two main mineral resources that are of major significance in the
Malaysian economy. Malaysia was once the world's largest producer of tin until the collapse of
the tin market in the early 1980s. In the 19th and 20th century, tin played a predominant role in
the Malaysian economy. It was only in 1972 that petroleum and natural gas took over from tin as
the mainstay of the mineral extraction sector. Meanwhile, the contribution by tin has declined.
Petroleum and natural gas discoveries in oil fields off Sabah, Sarawak and Terengganu have
contributed much to the Malaysian economy. Oil and gas resources are managed by Petronas, the
state controlled oil company which forms production sharing contracts with other players like
Exxon-Mobil and Royal Dutch Shell to explore oil fields in Malaysia. Other minerals of some
importance or significance include copper, bauxite, iron-ore and coal together with industrial
minerals like clay, kaolin, silica, limestone, barite, phosphates and dimension stones such as
granite as well as marble blocks and slabs. Small quantities of gold are produced.
Malaysia's broad and shallow continental shelf consists of several deep water prospective areas.
Malaysia has 500,000 km2 available for oil and gas exploration. 51 of the 70 producing fields in
Malaysia are oil fields. In January 2004, Malaysia's oil reserves were estimated to be 4.84 billion
barrels (769,000,000 m3), while natural gas reserves stood at 87 trillion standard cubic feet
(2,460 km3). The country produces about 0.00075 billion barrels (119,000 m3) barrels of crude
oil every day and 2.20 trillion standard cubic feet (60 km3) of natural gas condensates per year.[83]
In 2004, Minister in the Prime Minister's Department, Mustapa Mohamed, revealed that
Malaysia's oil reserves stood at 4.84 billion barrels (769,000,000 m3) while natural gas reserves
increased to 89 trillion cubic feet (2,500 km³). This was an increase of 7.2%.[citation needed] As of
January 1, 2007, Petronas reported that oil and gas reserve in Malaysia amounted to 20.18 billion
barrels (3.208×109 m3) equivalent.[84] In January 2008, the Malaysian natural gas reserves holds
up to 14,670,000,000 barrels (2.332×109 m3) of oil equivalent.[85] As of January 2009, Malaysia
has proven oil reserves of up to 4 billion barrels (640×10^6 m3).[86]
The government estimates that at current production rates Malaysia will be able to produce oil up
to 18 years and gas for 35 years. In 2004, Malaysia is ranked 24th in terms of world oil reserves
and 13th for gas. 56% of the oil reserves exist in the Peninsula while 19% exist in East Malaysia.
The government collects oil royalties of which 5% are passed to the states and the rest retained
by the federal government.[87]
Other minerals of some importance or significance include copper, bauxite, iron-ore and coal
together with industrial minerals like clay, kaolin, silica, limestone, barite, phosphates and
dimension stones such as granite as well as marble blocks and slabs. Small quantities of gold are
produced.
[edit] Business environment
According to World Bank, Malaysia ranks 24th in Ease of doing business. Malaysia's strengths
in the rank includes getting credit (rank 3rd), protecting investor (ranked 4th) and doing trade
across borders (ranked 21st). Weaknesses include dealing with licenses (ranked 105th). The
study ranks 178 countries in all aspect of doing business.[88] In the investor protection category of
the survey, Malaysia had scored a perfect 10 for the extent of disclosure, nine for director
liability and seven for shareholder suits. Malaysia is behind Singapore, Hong Kong and New
Zealand in investor protection category of the survey.[89]
The government is moving towards a more business friendly environment by setting up a special
task force to facilitate business called PEMUDAH, which means "simplifier" in Malay.[90]
Highlights includes easing restrictions and requirement to hire expatriates, shorten time to do
land transfers and increasing the limit of sugar storage (a controlled item in Malaysia) for
companies.[91] The Government aims to be in the top 10 in the Ease of doing business survey
before 2010 in order to attract even more foreign investors.[92]
The efforts of PEMUDAH is beginning to show fruits as their ranking improved to number 20 in
2009, with marked improvement in four areas: getting credit; dealing with construction permits;
paying taxes; and enforcing contracts.[93]
[edit] External trade
Malaysian exports in 2006

Malaysia is an important trading partner for the United States. In 1999, two-way bilateral trade
between the U.S. and Malaysia totaled U.S. $30.5 billion, with U.S. exports to Malaysia totaling
U.S.$9.1 billion and U.S. imports from Malaysia increasing to U.S.$21.4 billion. Malaysia was
the United States' 10th-largest trading partner and its 12th-largest export market. During the first
half of 2000, U.S. exports totaled U.S.$5 billion, while U.S. imports from Malaysia reached U.S.
$11.6 billion.
The Malaysian Government encourages Foreign Direct Investment (FDI). According to
Malaysian statistics, in 1999, the U.S. ranked first among all countries in approved FDI in
Malaysia's manufacturing sector with approved new manufacturing investments totaling RM5.2
billion (US$1.37 billion). Principal U.S. investment approved by the Malaysian Investment
Development Authority (MIDA) was concentrated in the chemicals, electronics, and electrical
sectors. The cumulative value of U.S. private investment in Malaysia exceeded $10 billion, 60%
of which is in the oil and gas and petrochemical sectors with the rest in manufacturing, especially
semiconductors and other electronic products.
In the first six months of 2007, Malaysia's total trade increased by 2.2% to RM522.38 billion,
compared with RM511.11 billion in the same period of 2006.
[edit] Free trade efforts
See also: Malaysia-United States Free Trade Agreement
Malaysia is a member of the ASEAN Free Trade Area which was established in 1992 to
promote trade among ASEAN members. Most tariffs among the first generation member states
were scrapped in 2007. ASEAN itself is increasingly playing a large role in free trade negotiation
on behalf of its members. ASEAN as a group hopes to establish a free trade agreement with the
European Union by 2009.[94]
The Malaysian Government is negotiating free trade deals with Australia, Chile and India,[95] but
has suspended negotiation of free trade deal with United States indefinitely after eight rounds of
negotiation. Malaysia is seeking membership into the Trans Pacific Partnership, a regional trade
pact between the United States and countries in the Pacific Rim.[96] As of October 2010, TPP
members has agree to allow Malaysia to join as a full negotiation member of the group. Malaysia
will join the third round of negotiations in Brunei.[97]
Officials have expressed desire for free trade agreements their ASEAN members Singapore and
Thailand. The Malaysian Trade Ministry released a statement in Vietnam saying that the FTA
"has the potential to increase trade, investment cross flows and economic cooperation between
the two countries. The agreement would also serve to make Chile a gateway for Malaysia's
exports to the Latin American market."[98]
Malaysia signed a Japan-Malaysia Economic Partnership Agreement with Japan on 13 December
2005.[99] This leads to a Free trade agreement which was in effect from 13 July 2006 and
expected to be fully realized in 2016.[100] The agreement itself is an extension of an FTA between
ASEAN and Japan, which is called Asean-Japan Comprehensive Economic Partnership.[101]
On 8 November 2007, Malaysian and Pakistan signed a bilateral Free Trade Agreement which
will come in force on 1 January 2008. Malaysia will cut tariffs on 140 lines while Pakistan will
cut 124 lines. Most tariffs and duty is expected to be eliminated by 2012.[102]
On 26 October 2009, Malaysia and New Zealand signed a bilateral Free Trade Agreement. New
Zealand will cut tariffs on 99.5 percent of goods sent to Malaysia beginning 2010. This
agreement itself is an extension of the ASEAN-Australia-New Zealand Free Trade Agreement.
[103]
Other 'economic areas' showing an interest in establishing free-trade agreements with Malaysia
are the European Union and Hong Kong. However, before any talks can be initiated regarding
new FTAs, Joint Economic Co-operation deals need to be concluded. International Trade and
Industry Minister, Tan Sri Muhyiddin Yassin has expressed the hope that talks will be concluded
by the end of 2008.[104]
[edit] Foreign direct investment
Malaysia received RM46.1 billion foreign direct investment (FDI), which was all time high, for
the whole of 2008. The foreign investments accounted for 73.4 percent of the total investments
of RM62.8 billion approved for 2008.
The Minister of International Trade and Industry, Datuk Mustapa Mohamed announced that
there was a sharp reduction in FDI and Malaysia only received RM4.2 billion FDI, about 78%
reduction, for the first five months of 2009.[105]
On the other hand, FDI in other Asean countries has grown rapidly. Malaysia was very much
ahead of Vietnam on attracting FDI. Now it has to compete with the latter for the FDI.
[edit] Sectors
[edit] Industry
Malaysia industrial sector accounts for 48.1 percent of total GDP or 63.4 billion US dollars. The
industrial output is ranked 32nd in the world.[106] The industrial sector is regulated and promoted
by Malaysia Industrial Development Authority.[107] International trade, facilitated by the adjacent
Strait of Malacca shipping route and manufacturing are both key sectors of the country's
economy.[108][109][110] Manufacturing has a large influence in the country's economy,[111] although
Malaysia’s economic structure is moving away from it.[112]
Malaysia has 18 companies that rank in the Forbes Global 2000 ranking for 2009.[113]
Market
World Revenue Profits Assets
Value
(billion $) (billion (billion
Company Industry (billion $)
Rank
$) $)
CIMB Group
493 Banking 4.24 0.82 70.14 14.05
Holdings
599 Sime Darby Conglomerates 8.82 0.65 9.92 15.27
642 Public Bank Banking 2.75 0.74 63.27 11.52
706 Maybank Banking 4.63 0.20 87.98 14.70
709 Tenaga Nasional Utilities 8.17 0.26 20.26 10.21
Telecommunications
904 Axiata Group 3.83 0.48 10.80 9.71
Services
907 MISC Transportation 4.33 0.39 10.08 10.66
Hotels, Restaurants &
1179 Genting 2.60 0.31 12.68 6.81
Leisure
1192 RHB Capital Banking 1.57 0.35 33.49 3.49
Telecommunications
1205 Maxis 2.22 0.46 5.17 12.08
Services
1224 IOI Group Food, Drink & Tobacco 4.15 0.28 4.53 10.78
1292 AMMB Holdings Banking 1.45 0.24 24.56 4.42
1485 PPB Group Food, Drink & Tobacco 0.57 0.46 3.82 5.60
1501 YTL Utilities 2.53 0.24 12.92 4.16
Hong Leong
1613 Banking 1.08 0.18 24.54 2.39
Financial Group
PLUS
1643 Transportation 0.93 0.35 5.36 5.11
Expressways
1755 Petronas Gas Oil & Gas Operations 0.94 0.25 2.76 5.70
1987 Petronas Dagangan Oil & Gas Operations 60.69 11 1.81 2.63
[edit] Finance and banking
Finance and Banking sector in Malaysia is regulated by Bank Negara Malaysia. The central bank
limits foreign participation through licensing limits. The central bank launched a Financial
Sector Master plan in 2001 to revamp the finance sector following the Asian Financial Crisis.
The master plan calls for emphasis on Islamic Banking,[114] of which Malaysia has become a
centre of. Malaysia has the highest number of female workers in Islamic banking.[115]
Maybank is Asia-Pacific's largest Islamic banking service provider with US$6.4 billion
(RM22.48 billion) Syariah-compliant assets.[116] Malaysia also accounts for two thirds of global
$82.2 billion sukuk market in 2007.[117] Khazanah Nasional owns the largest retakaful company
in the world, ACR Retakaful Holdings Limited, with capital base amounting to 300 million US
Dollars.[118]
A quarterly report prepared by the Economist Intelligence Unit on behalf of Barclays Wealth in
2007 estimated that there were 48,000 dollar millionaires in Malaysia (over twice that of China).
[119]
In April 2009, the government announce new licenses will be issued for investment banking
Islamic banking, takaful and insurance business between 2009 to 2011. It also announced that the
threshold foreign equity ownership has been raised from 49% to 70% and allowed foreign banks
to open up new branches and micro-credit facilities. This move was done as an attempt to put
Malaysia in as center for Islamic banking and also to liberalize the financial sector.[120]
[edit] Oil and gas
Malaysia has a vibrant oil and gas industry. The national oil company, Petronas, provides 32% of
the federal budget in taxes, dividends and royalties.[121] The oil company ranked 121 in Fortune
Global 500 list of companies in 2007. It also ranked 18 in the industry of the same list.[122] The
company has ove up to the rank by being 95th in 2008 in terms of revenue and 8th most
profitable company in the world and the most profitable in Asia.[123][124] Since inception in 1974,
Petronas have paid the government RM 403.3 billion, with RM 67.6 billion in 2008. The
payment represents a 44% of the 2008 federal government revenue.[125]
Petronas is also the custodian of oil and gas reserves for Malaysia. Hence, all oil and gas
activities are regulated by Petronas. Malaysia encourages foreign oil company participation
through production sharing contracts, in which significant amount of oil will be given away to
the foreign oil company until it reaches a production milestone. Currently, many major oil
companies such as ExxonMobil, Royal Dutch Shell, Nippon Oil, and Murphy Oil are involved in
such contracts.[126] As a result, 40% of oil fields in Malaysia are developed.[127]
Malaysia and Thailand has a wedge shaped area 150 km from Kota Bharu, Kelantan and 260 km
from the shores of Songkhla, Thailand which is jointly developed by Petronas and its Thailand
counterpart. The area, which is called Malaysia-Thailand Joint Development Area, has 4.5
trillion cubic feet (130 km3) of proven reserves.[128]
[edit] Tourism
Main article: Tourism in Malaysia
Beach scenery of Pulau Tioman.
In an effort to diversify the economy and make Malaysia’s economy less dependent on exported
goods, the government has pushed to increase tourism in Malaysia. As a result tourism has
become Malaysia’s third largest source of income from foreign exchange, although it is
threatened by the negative effects of the growing industrial economy, with large amounts of air
and water pollution along with deforestation affecting tourism.[129] The majority of Malaysia's
tourists come from its bordering country, Singapore. In 1999, Malaysia launched a worldwide
marketing campaign called “Malaysia, Truly Asia” which was largely successful in bringing in
over 7.4 million tourists.[130] In recent years tourism has been threatened by the negative effects
of the growing industrial economy, with large amounts of air and water pollution along with
deforestation affecting tourism.[131]
The Ministry of Culture, Arts and Tourism (MOCAT) was established in 1987 under which the
TDC was incorporated. TDC existed from 1972 to 1992, when it became the Malaysia Tourism
Promotion Board (MTPB), through the Malaysia Tourism Promotion Board Act, 1992.[132]
Tourism Malaysia aims to market Malaysia as a premier destination of excellence in the region.
[citation needed]
[edit] Science and technology

Main article: Ministry of Science, Technology and Innovation (Malaysia)
Sheikh Muszaphar Shukor, the first Malaysian in space

Science Policy in Malaysia is regulated by the Ministry of Science, Technology, and
Environment. Other ministries, such as the Ministry of Agriculture and the Ministry of Health
also have science departments. Training in scientific areas was promoted during the 1970s and
1980s. From 1987-1997 research and development used 0.24% of GNP, and in 1998 high-tech
exports made up 54% of Malaysia's manufactured exports.[133]
In 2002 the Malaysian National Space Agency (Angkasa) was formed to deal with all of
Malaysia's activities in space, and to promote space education and space experiments. It is
focused on developing the "RazakSAT" satellite, which is a remote sensing satellite with CCD
cameras.[134] In early 2006, Sheikh Muszaphar Shukor and three other finalists were selected for
the Angkasawan spaceflight programme. This programme came about when Russia agreed to
transport one Malaysian to the International Space Station as part of a multi-billion dollar
purchase of 18 Russian Sukhoi Su-30MKM fighter jets by the Royal Malaysian Air Force.[citation
needed]
In an effort to create a self-reliant defensive ability and support national development Malaysia
privatised some of its military facilities in the 1970s.[135] This has created a defence industry,
which in 1999 was brought under the Malaysia Defence Industry Council. The government
continues to try and promote this sector and its competitiveness, actively marketing the defence
industry.[135] One way it does this is through the Langkawi International Maritime and Aerospace
Exhibition, one of the largest defence and civil showcases in the Asia Pacific, regularly attended
by over 500 companies.[135] The Malaysian Armed Forces relies heavily on local military
technology and high-tech weapons systems designed and manufactured by foreign countries.
[edit] Others
Knowledge-based services are expanding in Malaysia.[112] Malaysia is being promoted as a
destination for Medical tourism, regionally and internationally.[136]
[edit] See also
• Islamic banking in Malaysia
• Poverty in Malaysia
• List of Malaysia states by GDP
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[edit] External links
• Mahathir bin Mohamad's interview with the PBS series "Commanding Heights" on the
subject of East Asian economic development.
• Key Statistics for Malaysia
• Economic Outlook by Economist Intelligence Unit
• http://www.matrade.gov.my/matrade/matradeMedia072007.htm
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Retrieved from "http://en.wikipedia.org/wiki/Economy_of_Malaysia"
Categories: Economy of Malaysia | World Trade Organization member economies
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October 2010 | All articles with unsourced statements | Articles with unsourced statements from
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Transport in Malaysia
From Wikipedia, the free encyclopedia
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Life in Malaysia
Culture
Cuisine
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edit box
The 966km North-South Expressway, which runs through seven states in Peninsular Malaysia, is
the longest expressway in Malaysia.
Transportation in Malaysia started to develop during British colonial rule, and the country's
transport network is now diverse and developed. Malaysia's road network is extensive, covering
63,445 km, including 1,630 km of expressways. The main highway of the country extends over
800 km, reaching the Thai border from Singapore. The network of roads in Peninsular Malaysia
is of high quality, whilst the road system in East Malaysia is not as well developed. The main
modes of transport in Peninsular Malaysia include buses, trains, cars and to an extent, airplanes.
Malaysia has six international airports. The official airline of Malaysia is Malaysia Airlines,
providing international and domestic air service alongside two other carriers. Most of the major
cities are connected by air routes. The railway system is state-run, and covers a total of 1798 km,
in Peninsula Malaysia only. Popular within the cities is Light Rail Transit, which reduces the
traffic load on other systems, and is considered safe, comfortable and reliable.
Contents
[hide]
• 1 Land
○ 1.1 Roads
○ 1.2 Railways
• 2 Waterways
○ 2.1 Pipelines
○ 2.2 Ports and harbours
○ 2.3 Ferry
○ 2.4 Merchant Marine
• 3 Transportation within Kuala Lumpur
• 4 References
• 5 See also
[edit] Land
[edit] Roads
Main articles: Malaysian Federal Roads system, Malaysian State Roads system, and Malaysian
Expressway System
See also: PLUS Expressway Berhad
Malaysia's road network covers 98,721 kilometres (61,342 mi), of which 80,280 kilometres
(49,884 mi) is paved, and 1,821 kilometres (1,132 mi) is expressways.[1] The longest highway of
the country, the North-South Expressway, extends over 800 kilometres (497 mi) between the
Thai border and Singapore. The road systems in Sabah and Sarawak are less developed and of
lower quality in comparison to that of Peninsular Malaysia.[2] Driving on the left has been
compulsory since the introduction of motorcars in Federated Malay States in 1903 during British
colonial era.
[edit] Railways
Main articles: Keretapi Tanah Melayu and Rail transport in Malaysia
The railway system is state-run, and covers a total of 1,849 kilometres (1,149 mi).
1,792 kilometres (1,113 mi) of it is narrow gauge, while 57 kilometres (35 mi) is standard gauge.
150 kilometres (93 mi) of narrow gauge tracks and all of the standard gauge tracks are
electrified.[1] Relatively inexpensive elevated Light Rail Transit systems are used in some cities,
such as Kuala Lumpur.[3]
[edit] Waterways
Malaysia has 7,200 kilometres (4,474 mi) of waterways,[1] most of them rivers. Of this,
3,200 kilometres (1,988 mi) are in Peninsular Malaysia, 1,500 kilometres (932 mi) are in Sabah,
and 2,500 kilometres (1,553 mi) are in Sarawak.[1]
[edit] Pipelines
See also: Peninsular Gas Pipeline
Malaysia has 3 kilometres (2 mi) of condensate pipeline, 1,965 kilometres (1,221 mi) of gas
pipeline, 31 kilometres (19 mi) of oil pipeline, and 114 kilometres (71 mi) of refined products
pipelines.[1]
[edit] Ports and harbours
Shuttle boats ferry to the Melaka-Sumatra ferry (the big yellow boat) anchored offshore near
Melaka
This is a list of Malaysian ports and harbours:
• Bintulu
• Kota Kinabalu
• Kuantan
• Kemaman
• Kuching
• Kudat
• Labuan
• Lahad Datu
• Lumut
• Miri
• Pasir Gudang
• George Town, Penang
• Port Dickson
• Port Klang
• Sandakan
• Sibu
• Tanjung Berhala
• Tanjung Kidurong
• Tawau
• Tanjung Pelepas
[edit] Ferry
• Penang Ferry Service
• Langkawi Ferry Service
• Pangkor Ferry Service
• Tioman Ferry Service
• Labuan Ferry service
• Tawau Ferry service
• Miri Ferry service
• Sandakan Ferry service
[edit] Merchant Marine
Total: 360 ships (1,000 GRT or over) 5,389,397 GRT/7,539,178 metric tons deadweight (DWT)
by type: bulk 59, cargo 100, chemical tanker 38, container 66, liquefied gas 25, livestock carrier
1, passenger 2, petroleum tanker 56, roll on/roll off 5, vehicle carrier 8
Foreign-owned: China 1, Germany 2, Hong Kong 8, Indonesia 2, Japan 2, South Korea 1,
Liberia 1, Monaco 1, Norway 1, Philippines 2, Singapore 81, Vietnam 1
registered in other countries: 75 (2009 est.)
[edit] Transportation within Kuala Lumpur
See:
• Public transport in Kuala Lumpur
• Transportation in Kuala Lumpur
• Ampang Line
• Kelana Jaya Line
• Kuala Lumpur
• KTM Komuter
• Rawang-Seremban Line
• Sentul-Port Klang Line
• Sri Petaling Line
• North-South Expressway there are 100,000 km of paved roads in Malaysia
[edit] References
1. ^ a b c d e "Malaysia". Cia.gov. https://www.cia.gov/library/publications/the-world-
factbook/geos/my.html. Retrieved 2010-10-26.
2. ^ Mody, Ashoka (1997). Infrastructure strategies in East Asia: the untold story.
Washington D.C.: The World Bank. p. 35. ISBN 0-8213-4027-1.
http://books.google.com.ph/books?
id=jSVNQi3UZKgC&printsec=frontcover&hl=en#v=onepage&q&f=false.
3. ^ Richmond, Simon; Cambon, Marie; Harper, Damian. Malaysia, Singapore & Brunei.
Lonely Planet. p. 10. http://books.google.com.ph/books?
id=wprT8EAiMnIC&printsec=frontcover&hl=en#v=onepage&q&f=false.
[edit] See also
• List of airports in Malaysia
• Kuala Lumpur - Singapore High Speed Rail
• Public transport in Kuala Lumpur
• Buses in Johor
• Road signs in Malaysia
• Puspakom
• Vehicle registration plates of Malaysia
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Politics and Political Parties in Malaysia

Edit
• Edited by Nesha35
• View full history
Added by Clo1085
IntroductionEdit
Malaysia’s government is a constitutional monarchy, meaning that it is headed by a paramount
ruler and a bicameral Parliament and all Peninsular Malaysian states have hereditary rulers who
are often referred to as sultans. https://www.cia.gov The Yang di-Pertuan Agong is the
paramount leader and the head of state. The Prime Minister of Malaysia is the head of
government. Although Malaysia is a monarchy, the political system of the country is similar to
that of other countries.
Political PositionsEdit
The Yang di-Pertuan Agong is advised by the Prime Minister and his Cabinet. He is also the
Supreme Commander of the Malaysian Armed Forces. http://www.malaysia.gov.my
• Elected every five years by the Conference of Rulers
• Elected based on how long they reigned among the Malay Rulers
The prime minister is designated from among the members of the House of Representatives.
What the legislative elections are concluded the leader who has the majority of the support from
the House of Representatives becomes the prime minister. The prime minister, with consent from
the king, selects members of Parliament and appoints them to the Cabinet.
The Senate
• Consists of 70 members (44 of those members are appointed by the Yang di-Pertuan
Agong. The 13 States Legislative Assembly, where each state is represented by two
members, elects the remaining 26 members.)
• A term is three years long with a maximum of two terms
• Senators have rendered distinguished public services or have achieved distinction in the
professions: commerce, industry, agriculture, cultural activities, or social service.
http://www.malaysia.gov.my
In order to be eligible for the Senate a person must:
• Be a Malaysian citizen
• Be 30 years or older
• Be of sound mind
• Not be an undischarged bankrupt
• Have no criminal record
House of Representatives
• 222 members
• General elections are held and the members are elected by the people. The elected
members represent a constituency.
• The party with the most votes can form a government to rule the country.
==
Political Groups and Parties==
There are three types of political groups that are broken down into different political parties.
Barisan Nasional (BN) ruling coalition: United Malays National Organization (UMNO),
Malaysian Chinese Association (MCA), Malaysian Indian Congress (MIC), and 10 other parties
• The United Malays National Organization (UMNO) is the predominant political party of
Malaysia
• The prime minister of Malaysia is always from the UMNO
• 92% of the seats in Parliament are held by coalition members
• The media is controlled by the parties in the Barisan Nasional
People’s Alliance (PR) opposing coalition: Democratic Action Party (DAP), Islamic Party of
Malaysia (PAS), People’s Justice Party (PKR), and Sarawak National Party (SNAP)
Independent Party: Sabah Progressive Party (SAPP)
Like many other countries Malaysia has political pressure groups. Those groups are: Bar Council
(BERSIH) the electoral reform coalition, PEMBELA (Muslim NGO coalition), religious groups,
women’s groups, and youth groups
Politics and TradeEdit
The Prime minister is currently working on trying to boost domestic demand and breaking the
country’s dependency on exports. However exports are the driving force of Malaysia’s economy.
Oil and gas are the major exports and the country grossed about $156.4 billion through exports
and about $119.5 billion through imports in 2009. https://www.cia.gov However, decreasing the
worldwide demand for consumer goods hurt Malaysia’s exports and economy in 2009.
Malaysia’s main free trade agreement is the Association of Southeast Asian Nations (ASEAN).
Secretary Clinton signed the Treaty of Amity and Cooperation in Southeast Asia (TAC) in July
2009 which has enhanced the United States political relations with ASEAN. In November of
2009 President Obama met with the ASEAN leaders which further advanced the relations
between the U.S. and the East Asia region. http://www.matrade.gov.my This is significant
because out of all of Malaysia’s trading partners the U.S. makes up 10.9% of the exports and
11.2% of the imports. The United States is Malaysia's largest trading partner and Malaysia is the
16th largest trading partner of the United States. The U.S. is also the largest foreign investor in
Malaysia on a cumulative basis. http://www.state.gov
References
1. CIA The World Factbook https://www.cia.gov
2. Malaysia Government Portal http://www.malaysia.gov.my
3. Malaysia External Trade Development Corporation (MATRADE)
http://www.matrade.gov.my
4. U.S. Department of State http://www.state.gov

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Malaysia Trade, Exports and Imports

Southeast Asia, particularly Malaysia, has been a trade hub for centuries. Since the beginning of
history, Malacca has served as a fundamental regional commercial center for Chinese, Indian,
Arab and Malay merchants for trade of precious goods. Today, Malaysia shares healthy trade
relations with a number of countries, specifically the US. The country is associated with trade
organizations, such as APEC, ASEAN and WTO. The ASEAN Free Trade Area that was
established for trade promotion among ASEAN members also has Malaysia as its founding
member. Malaysia has also signed Free Trade Agreements with countries including Japan,
Pakistan, China and New Zealand.
Malaysia was once the world’s largest producer of tin, rubber and palm oil. Its manufacturing
sector has a crucial role in its economic growth. The export industry was hit hard during the late
2000 economic recession drastically dropping to 78% i.e. FDI to RM4.2 billion in the first two
quarters of 2009. Total exports fell down to $156.4 billion in 2009 from $198.7 billion in 2008.
The imports also reduced from 154.7 billion in 2008 to $119.5 billion 2009.
Malaysia Exports Commodities
Malaysia mainly exports the following commodities:
• Electronic equipment
• Petroleum and liquefied natural gas
• Wood and wood products
• Palm oil
• Rubber
• Textiles
• Chemicals
Malaysia Exports Partners
The following graph depicts the shares of various export partners of Malaysia:
Malaysia Imports Commodities

Malaysia mainly imports the following commodities:
• Electronics
• Machinery
• Petroleum products
• Plastics
• Vehicles
• Iron and steel products
• Chemicals
Malaysia Imports Partners
The following graph depicts the share of various import partners of Malaysia:

Economy of Malaysia

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Palm oil estate in Malaysia.

Malaysian exports in 2006

[edit] Science and technology

Sheikh Muszaphar Shukor, the first Malaysian in space

[show]v · d · e Economy of Malaysia

PMalaysian New Economic Policy(NEP) · New Economic Model(NEM) · Government

[show] Links to related articles

[show]v · d · eAsia-Pacific Economic Cooperation

Australia · Brunei Darussalam · Canada · Chile ·

[show]v · d · eMembers of the World Trade Organization (WTO)

[show]v · d · e Malaysia topics

Portal · Outline · List of topics

[show]v · d · eEconomy of Asia

S Afghanistan · Armenia · Azerbaijan · Bahrain · Bangladesh · Bhutan · Brunei · Burma

Afghanistan · Armenia · Azerbaijan · Bahrain · Bangladesh · Bhutan · Brunei ·

This Malaysia-related article is a stub. You can help Wikipedia by expanding

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Politics and Political Parties in Malaysia

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Malaysia Trade, Exports and Imports

Malaysia Imports Commodities

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