Traditional Malaysian art was mainly centred around the areas of carving, weaving, and silversmithing. Traditional art ranges from handwoven baskets from rural areas to the silverwork of the Malay courts. Common artworks included ornamental kris, beetle nut sets, and woven batik fabrics.Dell XPS M1330 Battery
Indigenous East Malaysians are known for their wooden masks.Each ethnic group have distinct performing arts, with little overlap between them. However, Malay art does show some North Indian influence due to the historical influence of India. HP Compaq nc6230 Adapter
Traditional Malay music and performing arts appear to have originated in the Kelantan-Pattani region with influences from India, China, Thailand and Indonesia. The music is based around percussion instruments, the most important of which is the gendang (drum). There are at least 14 types of traditional drums.Dell T117C Battery
Drums and other traditional percussion instruments and are often made from natural materials. Music is traditionally used for storytelling, celebrating life-cycle events, and occasions such as a harvest. It was once used as a form of long-distance communication.Asus x5dij-sx039c Battery
In East Malaysia, gong-based musical ensemble such as agung and kulintang are commonly used in ceremonies such as funerals and weddings. These ensembles are also common in neighbouring regions such as in the southern Philippines, Kalimantan in Indonesia and Brunei.Dell Inspiron 1464 Battery
Johor state on the south of Peninsular Malaysia has an apparent Arab and Persian influence in art performances like Zapin and Hamdolok, musical instruments like Gambus and Samrah.
Malaysia has a strong oral tradition that has existed since before the arrival of writing, and continues today.HP Compaq 6720s Adapter
Each of the Malay Sultanates created their own literary tradition, influenced by pre-existing oral stories and by the stories that came with Islam. The first Malay literature was in the Arabic script. The earliest known Malay writing is on the Terengganu stone, made in 1303.Dell Latitude D630 Adapter
Chinese and Indian literature became common as the numbers of speakers increased in Malaysia, and locally produced works based in languages from those areas began to be produced in the 19th century. English has also become a common literary language.
In 1971, the government took the step of defining the literature of different languages. HP Pavilion dm4 Battery
Literature written in Malay was called "the national literature of Malaysia", literature in other bumiputra languages was called "regional literature", while literature in other languages was called "sectional literature". Malay poetry is highly developed, and uses many forms. The Hikayat form is popular, and the pantun has spread from Malay to other languages.Sony NP-FS11 Battery
Malaysia's cuisine reflects the multi-ethnic makeup of its population. Many cultures from within the country and from surrounding regions have greatly influenced the cuisine. Much of the influence comes from the Malay, Chinese, Indian, Thai, Javanese, and Sumatran cultures, largely due to the country being part of the ancient spice route.Dell Inspiron 1520 Adapter
The cuisine is very similar to that of Singapore and Brunei, and also bears resemblance to Filipino cuisine. The different states have varied dishes, and often the food in Malaysia is different from the original dishes.
Sometimes food not found in its original culture is assimilated into another, for example Chinese restaurants in Malaysia often serve Malay dishes.Toshiba PA3399U-1BRS Battery
Food from one culture is sometimes also cooked using styles taken from another culture, This means that although much of Malaysian food can be traced back to a certain culture, they have their own identity. Rice is popular in many dishes. Chili is commonly found in local cuisine, although this does not necessarily make them spicy.Acer Aspire 5920G Adapter
Holidays and festivals
Malaysians observe a number of holidays and festivities throughout the year. Some are federally gazetted public holidays and some are observed by individual states. Other festivals are observed by particular ethnic or religion groups, and the main holiday of each major group have been declared a public holiday. Acer Aspire 5920 Battery
The most observed national holiday is Hari Merdeka (Independence Day) on 31 August, commemorating the independence of the Federation of Malaya in 1957. Malaysia Day on 16 September commemorates federation in 1963. Other notable national holidays are Labour Day (1 May), and the King's birthday (first week of June).IBM Thinkpad T40 Adapter
Muslim holidays are prominent as Islam is the state religion; Hari Raya Puasa (also called Hari Raya Aidilfitri, Malay for Eid al-Fitr), Hari Raya Haji (also called Hari Raya Aidiladha, the translation of Eid ul-Adha), Maulidur Rasul (birthday of the Prophet), and others being observed.Nikon COOLPIX 4300 Battery
Malaysian Chinesecelebrate festivals such as Chinese New Year and others relating to traditional chinese beliefs. Hindus in Malaysia celebrate Deepavali, the festival of lights, while Thaipusam is a religious rite which sees pilgrims from all over the country converge at the Batu Caves.Apple MB771 Battery
Malaysia's Christian community celebrates most of the holidays observed by Christians elsewhere, most notably Christmas and Easter. East Malaysians also celebrate a harvest festival known as Gawai. Despite most of the festivals being identified with a particular ethnic or religious group, celebrations are participated by all Malaysians in a custom known as "open house". Sony DSC-P5 Battery
Popular sports in Malaysia include soccer, badminton, field hockey, bowling, tennis, squash, martial arts, horse riding, sailing, and skate boarding. Badminton matches attract thousands of spectators, and Malaysia, along with Indonesia, China, and the USA, has consistently held the Thomas Cup since 1948.Dell Inspiron 6400 Adapter
The Malaysian Lawn Bowl's Federation (PLBM) was registered in 1997, and since then Malaysians have made progress on the international stage. Squash was brought to the country by members of the British army, with the first competition being held in 1939.Toshiba PA3534U-1BRS Battery
The Squash Racquets Association of Malaysia was created on 25 June 1972, and has had great success in Asian Squash. Malaysia has proposed a Southeast Asian football league. Hockey is famous in the country, with the men's national team ranked 15th in the world as of August 2010.Sony NP-FP50 Battery
The 3rd Hockey World Cup was hosted at Merdeka Stadium in Kuala Lumpur, as well as the 10th cup. The country also has its own Formula One track–the Sepang International Circuit. It runs for 310.408 kilometres (193 mi), and held its first Grand Prix in 1999.HP Compaq nx7300 Adapter
The Federation of Malaya Olympic Council was formed in 1953, and received recognition by the IOC in 1954. It first participated in the 1956 Melbourne Olympic Games. The council was renamed the Olympic Council of Malaysia in 1964, and has participated in all but one Olympic games since its inception. Dell Latitude D820 Adapter
The largest number of athletes ever sent to the Olympics was 57 to the 1972 Munich Olympic Games. Malaysian athletes have won a total of four Olympic medals, all of which are in badminton. The country has competed at the Commonwealth Games since 1950 as Malaya, and 1966 as Malaysia.Toshiba PA3399U-1BRS Battery
It has been dominant in badminton, and the games were hosted in Kuala Lumpur in 1998.The 1998 Commonwealth Games were the first time the torch relay went through more nations than just England and the host.
Malaysia's main newspapers are owned by the government and political parties in the ruling coalition, although some major opposition parties also have their own.Dell Studio XPS 1640 Battery
A divide exists between the media in the two halves of the country. Peninsular-based media gives low priority to news from the East, and often treats the eastern states as colonies of the Peninsula. The media has been blamed for increasing tension between Indonesia and Malaysia, and giving Malaysians a bad image of Indonesians.Dell Latitude D830 Battery
There is very little freedom of the press, leading to very little government accountability. The government has previously tried to crack down on opposition papers before elections when they were unsure of their political situation.Dell Inspiron E1505 Adapter
In 2007, a government agency issued a directive to all private television and radio stations to refrain from broadcasting speeches made by opposition leaders, a move condemned by politicians from the opposition Democratic Action Party. Sabah, where only one tabloid is not independent of government control, has the freest press in Malaysia.Asus Eee PC 1201PN Battery
The infrastructure of Malaysia is one of the most developed in Asia. Its telecommunications network is second only to Singapore's in Southeast Asia,Asus Eee PC 701 Adapter
with 4.7 million fixed-line subscribers and more than 30 million cellular subscribers The country has seven international ports, the major one being the Port Klang. There are 200industrial parks along with specialised parks such as Technology Park Malaysia and Kulim Hi-Tech Park.Dell XPS M1330 Battery
Fresh water is available to over 95% of the population. During the colonial period, development was mainly concentrated in economically powerful cities and in areas forming security concerns. Although rural areas have been the focus of great development, they still lag behind areas such as the West Coast of Peninsular Malaysia.fujifilm np95 Battery
Malaysia's road network covers 98,721 kilometres (61,342 mi) and includes 1,821 kilometres (1,132 mi) of expressways.Asus Eee PC 900 Adapter
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.Sony VAIO PCG-713 Battery
Malaysia has 118 airports, of which 38 are paved. The country's official airline is Malaysia Airlines, providing international and domestic air service alongside two other carriers. The railway system is state-run, and covers a total of 1,849 kilometres (1,149 mi).Dell Latitude D830 Adapter
Relatively inexpensive elevated Light Rail Transit systems are used in some cities, such as Kuala Lumpur. The Asean Rail Express is a railway service that connects Kuala Lumpur to Bangkok, and is intended to eventually stretch from Singapore to China.
Traditionally, energy production in Malaysia has been based around oil and natural gas.Dell Studio XPS 1640 Battery
The country currently has 13 GW of electrical generation capacity.However, the country only has 33 years of natural gas reserves, and 19 years of oil reserves, whilst the demand for energy is increasing. Due to this, the government is expanding into renewable energy sources.Panasonic LUMIX DMC-TZ4S Battery
Currently 16% of electricity generation is hydroelectric, the remaining 84% being thermal. The oil and gas industry is currently dominated by state owned Petronas, and the energy sector as a whole is regulated by the Energy Commission of Malaysia, a statutory commission who governs the energy in the peninsula and Sabah, under the terms of the Electricity Commission Act of 2001.HP Compaq Business NX6320 Battery
The environment of Malaysia refers to the biotas and geologies that constitute the natural environment of this Southeast Asian nation. Ecologically, Malaysia is a megadiverse nation with a biodiverse range of flora and fauna found in various ecoregions throughout the country. Canon POWERSHOT G2 Battery
Tropical rainforests encompass between 59% to 70% of Malaysia's total land area, of which 11.6% is pristine. Malaysia has the world's fifth largest mangrove area, which totals over a half a million hectares (over 1.2 million acres).
Human intervention poses a significant threat to the natural environment of this country. Dell Latitude E6500 Battery
Agriculture, forestry and urbanisation contribute to the destruction of forests, mangroves and other thriving ecosystems in the country. Ecosystems and landscapes are dramatically altered by human development, including but not limited to the construction of roads and damming of rivers.Dell LATITUDE D630 Battery
Geographical phenomena, such as landslides and flooding in the Klang Valley, along withhaze, stem from widespread deforestation. Subtle climate change occurs as a direct result of air pollution and the greenhouse effect, which in turn is caused by the emission of greenhouse gases.Asus R33030 Adapter
The environment is the subject of the Ministry of Natural Resources and Environment at the federal level. The Department of Wildlife and National Parks is responsible for the preservation of flora and fauna in Malaysia. Dell Mini 1011 Battery
Malaysia is home to 15500 species of higher plants, 746 birds, 379 reptiles, 198 amphibians, and 368 species of fish.toshiba pa3332u-1brs Battery
There are also 286 species of mammals in Malaysia, of which 27 are endemic and 51 are threatened. Some of these mammals are found in both Peninsular Malaysia and Malaysian Borneo. The former has 193 species of mammals, while the latter has 215.HP Compaq 6710b Adapter
Among the mammals that are native to Malaysia include the Asian elephant, theIndochinese tiger, the Leopard Cat and the Pot-bellied pig. Endangered species include the orangutan, the tiger, the Asian elephant, the Malayan tapir, theSumatran rhinoceros and the Singapore roundleaf horseshoe bat. HP Compaq nx6325 Adapter
The tropical moist broadleaf forests of Peninsular Malaysia consist of 450 species of birds and over 6000 different species of trees, of which 1000 are vascular plants that occur naturally in karsts. The rainforests of East Malaysia are denser, with over 400 species of tall dipterocarps and semihardwoods.Acer Aspire 5720 Adapter
The national flower of Malaysia is the Hibiscus rosa-sinensis, an evergreen that was introduced into the Malay peninsula in the 12th century. The rafflesia is also widely found in the country.
Ecoregions and land use
There are various ecoregions in Malaysia with varying degrees of prevalence. Major forests account for 45% of all ecoregions in the country,Toshiba Equium A110-252 Battery
interrupted woods represent 33%, major wetlands constitute 3%, grass and shrubs make up 2% while other coastal aquatic regions form 8% of the country's land area, with crops and settlements taking up the remaining space. Malaysia has many national parks, although most of them are de facto state parks. Acer Aspire 5052ANWXMi Battery
About 41% of the land area is classified as "low human disturbance", 19% is categorised as "medium human disturbance" and 40% falls under the "high human disturbance" category. 2.7% of the land is totally protected, 1.77% is partially protected and 4.47% is totally or partially protected.Dell Mini 1011v Battery
Malaysia lies along the 1st parallel north to the 7th parallel north circles of latitude, roughly equal to Roraima (Brazil), the Democratic Republic of the Congo and Kenya. According to the Köppen climate classification system, Malaysia has a tropical rainforest climate due to its proximity to the equator.HP Compaq nx7300 Adapter
The country experiences two monsoon seasons, the Northeast Monsoon and the Southwest Monsoon. Dell Vostro 1510 Battery
The Northeast Monsoon brings heavy rainfall to the east coast of Peninsular Malaysia and western Sarawak, while the Southwest Monsoon signifies dryer conditions throughout the country exceptSabah. During the Southwest Monsoon, most states experience minimal rainfall due to the stable atmospheric conditions in the region and the Sumatran mountain range,Toshiba PA3534U-1BRS Battery
The urban heat island effect is caused by overdevelopment and general human activities in the cities of Malaysia.Asus M50 Battery
Air Pollution Index
The Air Pollution Index (API) is used by the government to describe the air quality in Malaysia. The API value is calculated based on average concentrations of air pollutants, namely sulphur dioxide, nitrogen dioxide, carbon monoxide, ozone and fine dust (PM10).Asus Eee PC 901 Battery
The API is reported on a scale starting from 0. A score of 0 to 50 is considered good, 51 to 100 is moderate, 101 to 200 is unhealthy, 201 to 300 is very unhealthy and anything higher than 300 is hazardous. Dell Inspiron 6400 Battery
A state of emergency is declared in the reporting area if the API exceeds 500, which occurred in Port Klang in 2005. Non-essential government services are suspended, and all ports and schools in the affected area are closed. Private sector commercial and industrial activities in the reporting area might be prohibited.HP Compaq Business NC6220 Battery
Environmental law and conservation
The Environmental Quality Act of 1974 and other environmental laws are administered by the Division of Environment. Clean-air legislation was adopted in 1978, limiting industrial and automobile emissions. However, air pollution remains a problem in Malaysian cities.Sony VGP-BPS9 Battery
The National Forestry Act of 1984 was enacted for sustainable forest management, but the act has not been enforced.
There are a number of environmental issues faced by Malaysia, such as deforestation and pollution. According to a study by Centre for Marine and Coastal Studies in 2008, about 30% of Malaysian coastline is subject to varying degrees of erosion.Sony VGP-BPS13 Battery
According to the United Nations, Malaysia's deforestation rate is the highest among tropical nations. The country's annual deforestation rate increased 86% between 1999–2000 and 2000-2005. Malaysia lost an average of 140,200 hectares of its forests or 0.65% of its total forest area every year since 2000,HP Compaq nx7300 Adapter
Widespread urbanisation, agricultural fires and forest conversion for oil palm plantations and other forms of agriculture are the main causes of Malaysia's high deforestation rate. HP Compaq 2510p Adapter
Mining in peninsular Malaysia has left a mark on the environment. Deforestation, pollution of rivers, and siltation have resulted in losses of agriculture, and road projects have opened new areas to colonisation. Dell Studio PP39L Battery
Air pollution from industrial and vehicular emissions is a major issue in the urban areas of Malaysia. Malaysia is ranked 42nd in the world in terms of vehicle ownership per capita, with 273 Malaysians having vehicles out of every 1000. Public transportation has been introduced in the form of bus networks and railway systems as mitigation, but utilisation rates are low.Nikon COOLPIX 5700 Battery
Water pollution occurs due to the discharge of untreated sewage; the west coast of the Peninsular Malaysia is the most heavily populated area. 40% of the rivers in Malaysia are heavily polluted. The country has 580 cubic km of water, of which 76% is used for farming and 13% is used for industrial activity.Dell Studio XPS 16 Battery
In 2000, Malaysia was ranked fourth in the world in terms of per capita greenhouse gas emissions after taking into account land use change with 37.2 tonnes of carbon dioxide equivalent per capita.HP Compaq nx7400 Adapter
Periodic fires, which usually coincide with the events of el Niño, burn thousands of hectares of forests across Malaysia, especially in Malaysian Borneo. The haze originating from these fires and the fires in Kalimantan, Indonesia typically have adverse health effects on the populace, besides causing air pollution.HP Pavilion DV6500 Adapter
In particular, the 1997 Southeast Asian haze, the 2005 Malaysian haze and the2006 Southeast Asian haze were caused by slash and burn activities in neighbouring Indonesia.
The Economy of Malaysia is a growing and relatively open state-oriented and newly industrialised market economy.Dell T117C Battery
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 with a growth rate of 5% to 7% since 2007 In 2009, Acer PA-1650-02 Adapter
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.Acer Aspire 5920G Adapter
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.Asus S1 Adapter
As one of three countries that control the Strait of Malacca, international trade plays a large role in its economy.HP Pavilion dv6000 Battery
At one time, it was the largest producer of tin, rubber and palm oil in the world. Manufacturing has a large influence in the country's economy. Malaysia is the world's largest Islamic banking and financial centre.
Early and colonial history
The Malay Peninsula and indeed Southeast Asia has been a center for trade for centuries.Ibm Thinkpad T30 Battery
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.Dell Studio PP39L Battery
In the 17th century, porcelain and spices were found in several Malay states and were actively traded. Large deposits of tin were found in severalMalay states. Later, as the British started to take over as administrators of Malaya, rubber and palm oil trees were introduced for commercial purposes. HP Pavilion dv5 Adapter
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. HP Compaq Business NC6400 Battery
Over time, Malaya became the world's largest producer of tin, rubber, and palm oil. 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, HP Compaq 490306-001 Battery
In the 1970s, Malaysia began to imitate the four Asian Tiger economies (Republic of Korea (South Korea),Compaq Presario CQ35-100 Battery
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. HP Compaq HSTNN-LB51 Battery
Since the 1980s the industrial sector has led Malaysia's growth. High levels of investment played a significant role in this. With Japanese investment, heavy industries flourished and in a matter of years, Malaysian exports became the country's primary growth engine . HP Pavilion ZE4500 Battery
Central planning has been a major factor in the Malaysian economy, as government expenditure was often used to stimulate the economy. HP G62-100EB Battery
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.
A legacy of the British colonial system was the division of Malaysians into three groups according to ethnicity. HP Pavilion DV6-1211AX Battery
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.HP Pavilion DV6-1220SO Battery
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, HP EliteBook 6930P Battery
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).HP Pavilion DV6-1210SA Battery
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).Compaq Presario CQ71 Battery
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, HP Pavilion DV7-1290EO Battery
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.HP G6000 Battery
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.HP HDX X18-1005EA Battery
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. The rate of poverty in Malaysia also fell dramatically over the years. HP Pavilion DV6-3013SL Battery
However, its precipitous drop has been questioned by critics who suggest that the poverty line has been drawn at an unreasonably low level. 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.HP Compaq HSTNN-IB62 Battery
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;HP Pavilion DV6100 Battery
the five-year time frame has been attacked for being insufficient in dealing with short-term crises and long-term trends. 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.HP EliteBook 2730P Battery
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. HP Pavilion DV9000 Battery
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 – HP Pavilion DV7 Battery
During the same period, the government tried to eradicate poverty with a controversial race-conscious positive program called New Economic Policy (NEP). HP Pavilion DV7-1290EO Battery
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.. HP Compaq Business 6735S Battery
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.HP 540 Battery
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. HP Compaq Business NW9440 Battery
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, HP Compaq Business TC4400 Battery
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. HP Compaq 491278-001 Battery
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.HP HSTNN-LB31 Battery
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 theMultimedia Super Corridor. Proposals that were eventually canceled include the 95 km Sumatra–Malaysia bridge (would have been world's longest),HP Pavilion DV3-4000 Battery
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. HP Pavilion TX1000 Battery
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. HP Pavilion DV6-1210SA Battery
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. HP 448007-001 Battery
Asian financial crisis and recovery
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.HP Compaq Business 6530B Battery
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.HP Pavilion DV5-1015EA Battery
Bank Negaraimposed 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,HP Pavilion DV6-1230SB Battery
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.HP Pavilion ZD8181EA Battery
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.HP Pavilion DV9500 Battery
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.HP Pavilion DV4-1125BR Battery
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 HP Pavilion DV5-1111EA Battery
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.HP Pavilion DV6-1234TX Battery
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. According to Bank Negara's published figures, HP Pavilion DV3-2008TX Battery
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. HP Pavilion DV8 Battery
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.HP Pavilion DV6-1215SA Battery
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. HP Compaq 490306-001 Battery
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, Compaq Presario CQ50 Battery
In September 2005, Sir Howard J. Davies, director of the London School of Economics, at a meeting in Kuala Lumpur, HP Pavilion DV6-1223EO Battery
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. 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,HP Compaq 490306-001 Battery
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. Compaq Presario CQ35-100 Battery
">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.HP Compaq HSTNN-LB51 Battery
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. HP Pavilion ZE4500 Battery
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. HP G62-100EB Battery
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.
Prior to the 1997 Asian Financial Crisis, the Malaysian ringgit was an internationalized currency, which was freely traded around the world.HP Pavilion DV6-1211AX Battery
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. HP EliteBook 6930P Battery
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.HP Pavilion DV9500 Battery
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.Compaq Evo N610C Battery
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.HP Pavilion DM3-1050EO Battery
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. 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.Compaq Presario 1245 Battery
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. HP G6000 Battery
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. Further liberalization in the retail sector is expected to remove the present 30% Bumiputera listing requirements. HP Compaq 451086-661 Battery
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" .
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, HP Pavilion DV2166EA Battery
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. HP Compaq 464119-143 Battery
The NEP is accused of creating an oligarchy, and creating a 'subsidy mentality'. 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.Compaq Presario CQ71 Battery
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".
On April 21, 2009, the prime minister Najib Tun Razak has announce liberalisation of 27 services sub-sector by abolishing the 30% bumiputera requirement. HP Pavilion DV9565EA Battery
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.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,HP Pavilion DV6203TX Battery
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.
Subsidies and price controls
The Malaysian government subsidizes and controls prices on a lot of essential items to keep the prices low. HP Pavilion DV7-1290EO Battery
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.HP HSTNN-OB51 Battery
As of 2009, 22 per cent of government expenditures were subsidies, with petrol subsidies alone taking up 12 per cent.
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. HP Pavilion DV7-2185DX Battery
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, HP Compaq Business 6830S Battery
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. Another example is when vehicles in Thailand come to Malaysia to smuggle cheap petrol and diesel out of the country. HP PP2200 Battery
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.Compaq CQ50 Battery
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.HP Pavilion DV8 Battery
The government has considered to remove the subsidies but a formal plan had yet to materialized as of 2007.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.Sony VGP-BPS13 Battery
The government is experimenting with the idea through allowing Sabah and Sarawak construction players to import steel and cement since February 2008. 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,HP DV9700 Battery
Another strategic item which is heavily subsidized but moving towards a market based approach is Natural Gas which is used in the industrial sector. Compaq CQ35-100 Battery
Sovereign wealth funds
The government owns and operates several sovereign wealth funds that invests in local companies and also foreign companies. HP Pavilion DV6-1223EO Battery
One such funds are Khazanah Nasional Berhad which was established in 1993.Its objective is to help shape selected strategic industries in Malaysia and develop those investment for the benefit of Malaysia.The fund invest in major companies in Malaysia such asProton Holdings in the automotive sector, CIMB in the banking sector, Sony VGP-BPS11 Battery
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. It is estimated that the fund size of Khazanah Nasional stands at around US$19 billion. HP 448007-001 Battery
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. Like Khazanah Nasional, the EPF invests and sometimes owns several major companies in Malaysia such as RHB Bank.Sony Vaio VGN-CR190E/L Battery
Permodalan Nasional Berhad is a major fund manager controlled by the Malaysian Government. Dell Inspiron 6400 AC Adapter
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. As of April 2008, it manages MYR120 billion of funds (36 billion USD), of which MYR76 million is unit trust funds.Dell LATITUDE D800 Battery
The fund manager is a sizable investor in strategic companies such as MMC Corporation Berhad, Maxis Communications Berhad and TM International Berhad among others.
Other than federal government funds, some states have created their own investment authority to manage state-owned sovereign wealth funds.Apple A1280 Battery
First of such funds are launched by the state ofTerengganu 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.
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. Apple A1281 Battery
The economy is also influenced by the government through agencies such as the Economic Planning Unit and government-linked wealth funds such as Khazanah NasionalBerhad, 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.HP Pavilion DV7-1290EO Battery
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. For example, in the current national plan, three sectors - agriculture, manufacturing and services, HP Pavilion DV6-1020ED Battery
will receive special attention to promote the transition to high value-added activities in the respective areas. 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. Dell Latitude E6400 Battery Battery
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.
Economic Planning Unit (Malay: Unit Perancang Ekonomi), established in 1961 was instrumental in steering Malaysia to recovery from the 1997 Asian Financial Crisis.HP Pavilion DM4 Battery
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,HP Pavilion DM4T Battery
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. Apple MB772LL/A Battery
For example, Khanazah Nasional is a major shareholder in Proton Holdings, an automaker and CIMB banking group in the financial sector. The government, however, is keen to sell stakes in their companies such as Malaysia Airlines to let the companies remain globally competitive..Dell LATITUDE D800 Battery
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. 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.Dell Inspiron 6400 AC Adapter
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. 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. Sony Vaio VGN-CR190E/L Battery
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. HP 448007-001 Battery
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. Sony VGP-BPS11 Battery
At one time, it was the largest producer of tin, rubber and palm oil in the world. 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 andtobacco dominate the growth of the sector. Palm oil is also a major generator of foreign exchange.HP Pavilion DV6-1223EO Battery
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,Compaq CQ35-100 Battery
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.HP DV9700 Battery
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. Sony VGP-BPS13 Battery
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.HP Pavilion DV8 Battery
Tin and petroleum are the two main mineral resources that are of major significance in the Malaysian economy.Compaq CQ50 Battery
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. HP DV6-1120SA Battery
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. HP Pavilion DV7 Battery
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.HP Pavilion DV6-1020ED Battery
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), HP NX8200 Battery
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.In 2004, Minister in the Prime Minister's Department, HP NX7400 Battery
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%. 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.HP NW8440 Battery
In January 2008, the Malaysian natural gas reserves holds up to 14,670,000,000 barrels (2.332×109 m3) of oil equivalent. As of January 2009, Malaysia has proven oil reserves of up to 4 billion barrels (640×106 m3).
The government estimates that at current production rates Malaysia will be able to produce oil up to 18 years and gas for 35 years.HP NW8200 Battery
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.HP NC6400 Battery
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.HP NC6200 Battery
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.HP NC6100 Battery
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.HP NC6000 Battery
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. 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.HP NC4400 Battery
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.HP 6710B Battery
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. HP 6530B Battery
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).HP 6510B Battery