2008 has been an awesome year of highs and lows on the financial and economic fronts. The financial crisis that imploded onto the global stage is still unfolding and is expected to result in economic contraction in the developed economies for the coming year. Malaysia can expect a resultant knock-on effect.

Our GDP (Gross Domestic Product) growth is expected to moderate to 3.5% for 2009, whilst the threat of accelerating inflation is dissipating with the lowering of fuel and commodity prices. As Malaysia is a major trading nation, we must be vigilant of the impact of economic volatility that has been unprecedented in these times.

I am pleased to note that our Government is taking action to avert a sharp decline in our economic environment and to ensure that businesses face minimum inconvenience whilst maintaining social stability. The current global crisis requires a global concerted response that must also complement domestic measures.

Although, such circumstances may seem to be a threat to our economic progress, it also presents opportunities. It is on this note that I wish our members and readers to look beyond the “trees in the forests”. The developing countries of the South still have a lot of resources and many are in a good position to overcome and benefit from the challenges.

MASSA will be on the lookout for these emerging trends and opportunities for members.

As the year comes to a close, I wish to express MASSA’s gratitude to our Government for their continuing support of our activities and initiatives.

To all MASSA members and Executive Committee members, I thank you for your valuable participation and contribution to the Association and wish you and your families “Season’s Greetings” and a “Happy and Successful 2009”!

TAN SRI DATO’ AZMAN HASHIM
President