2014 to date has shown us that the global economy is still on a shaky growth path.  This is evidenced by the improved but still weak growth conditions that have emerged in many of the advanced economies.  Growth in the advance economies will positively impact emerging markets through the strengthening of external demand for their exports, and thus contribute to an acceleration in their growth.  This would augur well for the South-South markets that we operate in. 

Malaysia will also benefit from the positive global growth environment.  It’s economy remains resilient and is projected to grow by 4.5% – 5.5% in  2014.  The strong growth of 6.2% in the first quarter of 2014 came mainly from stronger exports  and sustained private sector expenditure.  Private investments continue to gain traction as improvements in trade and manufacturing activities provided further impetus to the services sector.  Barring unforeseen circumstances, Malaysia’s economic growth outlook for 2014 will be sustainable.  

Asean Economic Community will soon become a reality in 2015 when Malaysia will be the Chair of ASEAN.  The goal of this regional economic integration is to create a single market and production base resulting in a highly competitive economic region with free movement of goods, services, investments, skilled labour and freer flow of capital.

While we may be busy positioning ourselves and our businesses for this paradigm change in Asean, we must not forget that our South-South connections will be able to give us the competitive edge as they remain a valuable source of resources and will also be a growth market for our end products and services.  We encourage members to stay connected and plugged into the South-South networks.

I want to thank members who attended MASSA’s 23^rd Annual General Meeting held on 23 June 2014 at Bangunan AmBank Goup, Kuala Lumpur.  It was heartening to see the renewal of friendships and acquaintances, the catching up of business updates over tea after the AGM.   

I take this occasion to wish all our Muslim members, friends and readers, “Selamat Hari Raya Aidilfitri”, “Maaf Zahir Batin” during this festive season.

Tan Sri Azman Hashim

President