Greetings and Best Wishes for 2019!

2018 has been a watershed year for Malaysia. 

The world economy began 2018 on an upbeat mode when global growth was broad-based and synchronised.  However, global growth slowed on account of many on-going concerns that included the geopolitical tensions in the middle east, the rising US economy,  slowing manufacturing growth in China, Brexit and the on-going US-China trade wars. 

Malaysia created top global news when YAB Tun Dr Mahathir Mohamad re-emerged once again as Malaysia’s 7th Prime Minister following the nation’s 14th General Election to form a new Government for Malaysia.  As the new Government got down to work, many challenges were revealed, especially legacy challenges from the former Government while having to contend with a weakening domestic economy, partly due to unfavourable global trends.

Bank Negara has lowered Malaysia’s economic growth forecast for 2018 to 5% from its earlier estimate of 5.5%-6%.  This softer growth was partly attributed to the moderating performance of Liquefied Natural Gas (LNG) and crude palm oil (CPO).  The agriculture sector was affected by production constraints and adverse weather conditions. The construction sector has also been affected due to the cancellation or postponement of mega projects, thus affecting overall economic growth.  However, the services and manufacturing sector remained supportive of growth.

We can expect challenging economic headwinds in 2019 and uncertainties ahead.  This is not a new phenomena and our past experiences should help us to ride through the turbulence as we  seek out new business opportunities, especially in the developing countries.

Towards this end, MASSA will endeavour to bring to members’ attention areas, sectors and regions where there may be viable business propositions for your consideration.

I appreciate the continuing support and cooperation of all members, especially my fellow Executive Committee members with your attendance at our regular meetings and your generous contributions.

I wish you all a happy, healthy and successful 2019.

Tan Sri Azman Hashim
President