The world’s economy is still saddled with the financial turmoils in Europe and the United States while China’s economy is experiencing softer domestic demand and slowing export growth, not withstanding the ongoing geopolitical tensions in the Middle East. Persistent headwinds from a stumbling world economy seem likely to persist. Inspite of this scenario, we note that growth in the East Asia and Pacific (EAP) region is still the highest among the developing world and constituting 40% of global growth. EAP (excluding China) is expected to grow 5.6% in 2012, contributed mainly by the ASEAN member countries, Malaysia included.

Malaysia has held a steady course to date, and its economic prospects for 2013 are expected to remain resilient with GDP growth to be between 5.0% and 5.4%. This growth expectation is backed by strong domestic demand, boosted by private and public consumption and investment outlays. This will be especially evident in the services and construction sectors arising from the Government’s ongoing Government Transformation Programme (GTP) and Economic Transformation Programme (ETP) rollout.

The Executive Committee of MASSA recently deliberated at its meeting on ways and initiatives to keep MASSA relevant and useful to members and the investing community. We welcome members’ input and constructive ideas. It was agreed that MASSA will continue to strengthen its business linkages with South-South Countries especially those countries that have yet to be explored. These include the CIS countries and Timor Leste amongst others. MITI, MATRADE and MIDA have offered their continued support and we want to thank MITI and their agencies for assisting the business private sector in this endeavor.

As 2012 comes to an end, we are optimistic for new and innovative approaches to business opportunities coming on stream in 2013. I wish to express, once again, MASSA’s gratitude to all members and the Executive Committee members for their valuable participation and contribution to the Association for 2012.

I wish you and your families Season’s Greetings, and a Happy and Successful 2013!

TAN SRI AZMAN HASHIM
President