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The Covid-19 Pandemic and Its Repercussions on the Malaysian Tourism Industry
Journal of Tourism and Hospitality Management, May-June 2021, Vol. 9, No. 3, 135-145 doi: 10.17265/2328-2169/2021.03.001 D D AV I D PUBLISHING The Covid-19 Pandemic and Its Repercussions on the Malaysian Tourism Industry Noriah Ramli, Majdah Zawawi International Islamic University Malaysia, Jalan Gombak, Malaysia The outbreak of the novel coronavirus (Covid-19) has hit the nation’s tourism sector hard. With the closure of borders, industry players should now realize that they cannot rely and focus too much on international receipts but should also give equal balance attention to local tourist and tourism products. Hence, urgent steps must be taken by the government to reduce the impact of this outbreak on the country’s economy, by introducing measures to boost domestic tourism and to satisfy the cravings of the tourism needs of the population. It is not an understatement that Malaysians often look for tourists’ destinations outside Malaysia for fun and adventure, ignoring the fact that Malaysia has a lot to offer to tourist in terms of sun, sea, culture, heritage, gastronomy, and adventure. National geography programs like “Tribal Chef” demonstrate how “experiential tourism” resonates with the young and adventurous, international and Malaysian alike. The main purpose of this paper is to give an insight about the effect of Covid-19 pandemic to the tourism and hospitality services industry in Malaysia. What is the immediate impact of Covid-19 pandemic on Malaysia’s tourism industry? What are the initiatives (stimulus package) taken by the Malaysian government in order to ensure tourism sustainability during Covid-19 pandemic? How to boost tourist confidence? How to revive Malaysia’s tourism industry? How local government agencies can help in promoting and coordinating domestic tourism? These are some of the questions which a response is provided in the paper. -
Department of Economics Issn 1441-5429 Discussion
DEPARTMENT OF ECONOMICS ISSN 1441-5429 DISCUSSION PAPER 11/06 ASIAN FINANCIAL CRISIS, AVIAN FLU AND TERRORIST THREATS: ARE SHOCKS TO MALAYSIAN TOURIST ARRIVALS PERMANENT OR TRANSITORY? Hooi Hooi Lean♣ and Russell Smyth♥ ABSTRACT International visitor arrivals from Malaysia’s ten major source markets are examined using Lagrange Multiplier (LM) unit root tests with one and two structural breaks to ascertain if shocks to the time path of tourist arrivals are permanent or transitory. The LM unit root test with one break is able to reject the unit root null for between 60 per cent of source markets where the break is specified as in the intercept and 90 per cent of source markets where the break is specified as in the intercept and slope. The LM unit root test with two breaks is able to reject the unit root null for all source markets, irrespective of how the break is specified. This result suggests that the effects of shocks on the growth path of tourist arrivals to Malaysia from its major markets are only transitory and that Malaysia’s tourist sector is sustainable in the long run. While the effects of shocks are not permanent we do find that following shocks the growth in tourist arrivals from Malaysia’s source markets have generally slowed. This result suggests there is a need to reduce the negative effects of slower growth in the recovery phase. ♣School of Social Sciences, Universiti Sains Malaysia, 11800 Minden, Penang, Malaysia ♥ Department of Economics, Monash University, 900 Dandenong Road, Caulfield East 3145, Australia. 1 Asian Financial Crisis, Avian Flu and Terrorist Threats: Are Shocks to Malaysian Tourist Arrivals Permanent or Transitory? 1. -
Forecasting Malaysian Ringgit: Before and After the Global Crisis
ASIAN ACADEMY of MANAGEMENT JOURNAL of ACCOUNTING and FINANCE AAMJAF, Vol. 9, No. 2, 157–175, 2013 FORECASTING MALAYSIAN RINGGIT: BEFORE AND AFTER THE GLOBAL CRISIS Chan Tze-Haw1, Lye Chun Teck2 and Hooy Chee-Wooi3 1 Graduate School of Business, Universiti Sains Malaysia, 11800 Pulau Pinang, Malaysia 2 Faculty of Business, Multimedia University, Jalan Ayer Keroh Lama, 75450 Ayer Keroh, Melaka, Malaysia 3 School of Management, Universiti Sains Malaysia, 11800 Pulau Pinang, Malaysia *Corresponding author: [email protected] ABSTRACT The forecasting of exchange rates remains a difficult task due to global crises and authority interventions. This study employs the monetary-portfolio balance exchange rate model and its unrestricted version in the analysis of Malaysian Ringgit during the post- Bretton Wood era (1991M1–2012M12), before and after the subprime crisis. We compare two Artificial Neural Network (ANN) estimation procedures (MLFN and GRNN) with the random walks (RW) and the Vector Autoregressive (VAR) methods. The out-of- sample forecasting assessment reveals the following. First, the unrestricted model has superior forecasting performance compared to the original model during the 24-month forecasting horizon. Second, the ANNs have outperformed both the RW and VAR forecasts in all cases. Third, the MLFNs consistently outperform the GRNNs in both exchange rate models in all evaluation criteria. Fourth, forecasting performance is weakened when the post-subprime crisis period was included. In brief, economic fundamentals are still vital in forecasting the Malaysian Ringgit, but the monetary mechanism may not sufficiently work through foreign exchange adjustments in the short run due to global uncertainties. These findings are beneficial for policy making, investment modelling, and corporate planning. -
Econ 690 Spring, 2019 C. Engel Answers to Homework 5 1
Econ 690 Spring, 2019 C. Engel Answers to Homework 5 1. Suppose the spot rate is CHF0.9976/$ in the spot market, and the 180-day forward rate is CHF0.9908/$. If the 180-day dollar interest rate is 3% p.a., what is the annualized 180-day interest rate on Swiss francs that would prevent arbitrage? Answer: Interest rate parity requires equality of the return to investing in CHF versus converting the CHF principal into dollars, investing the dollars, and selling the dollar principal plus interest in the forward market for CHF: 1 1 + ( ) = × (1 + ($)) × ( /$) ( /$) If we “de-annualize”� the dollar �interest rate, we find that the 180 day interest rate is 0.015. Hence, the Swiss franc interest rate that prevents arbitrage is 1 i(CHF) = × 1.015 × CHF0.9908/$ - 1 = 0.0081 CHF0.9976/$ If we annualize this value, we find 0.0081 × (100) × (360/180) = 1.62%. 2. As a trader for Goldman Sachs you see the following prices from two different banks: 1-year euro deposits/loans: 6.0% – 6.125% p.a. 1-year Malaysian ringgit deposits/loans: 10.5% – 10.625% p.a. Spot exchange rates: MYR 4.6602 / EUR – MYR 4.6622 / EUR 1-year forward exchange rates: MYR 4.9500 / EUR – MYR 4.9650 / EUR The interest rates are quoted on a 360-day year. Can you do a covered interest arbitrage? Answer: We need to check the two inequalities that characterize the absence of covered interest arbitrage. In the first, we will borrow euros at 6.125%, convert to ringgits in the spot market at MYR4.6602 / EUR, invest the ringgits at 10.5%, and sell the ringgit principal plus interest forward for euros at MYR4.9650 / EUR. -
INSTITUTE of CURRENT WORLD AFFAIRS Hanover, NH 03755
INSTITUTE OF CURRENT WORLD_ AFFAIRS 23 Jalan AU5 C/3 Lembah Keramat Uln Kelang, Selangor Malaysia 20 September 1982 BEB-IO Groping Mr. Peter Bird Martin Institute of Current World Affairs Wheelock House West Wheelock Street Hanover, NH 03755 Dear Peter, Hijjas Kasturi is an architect. "For some time no," he says,"each of us has been try- ing in our various directions, to fiud Malaysian architec- ture. We haven't found it yet, and I think it will take at least another generation before anything is formalized. This is the beginning; a very exciting period, but one full of dis c ont inuit ies .-,' "we lack a charismatic leadership to define IVia!aysian architecture as Frank Lloyd Wright did at one time for Aer- ican architecture. We all come from diffe.rent architectural schools with different philosophies. There is no unity. Some architects only want to implement what they've learned abroad. Others think the inangkabau roof, 'Islaic' arches and other ornamentation are enough. Its a horrible misconception that these cons.titute Malaysian architecture. These are elements. Elements are superficial things. en you think in elements you will trap yourself and become artificial in your assess- ment and in your discipline. In my firm we are looking for semething deeper aan that. We are not always successful. But we are searching. We are groping. And we are very committed. I think one day we may make history." Heavy stuff coming from the founder and sole proprietor -of a seVenty-member architectural firm barely five years old this year, with most oi" its portfolio either on the drawing boards or under construction. -
Immigration Manual
Immigration Manual November 2006 Baker & McKenzie International is a Swiss Verein with member law firms around the world. In accordance with the common terminology used in professional service organizations, reference to a “partner” means a person who is a partner, or equivalent, in such a law firm. Similarly, reference to an “office” means an office of any such law firm. © 2006 Baker & McKenzie All rights reserved. This publication is copyright. Apart from any fair dealing for the purposes of private study or research permitted under applicable copyright legislation, no part may be reproduced or transmitted by any process or means without prior written permission. IMPORTANT DISCLAIMER. The material in this booklet is of the nature of general comment only. It is not offered as advice on any particular matter and should not be taken as such. The firm and the contributing authors expressly disclaim all liability to any person in respect of anything and in respect of the consequences of anything done or omitted to be done wholly or partly in reliance upon the whole or any part of the contents of this booklet. No client or other reader should act or refrain from acting on the basis of any matter contained in it without taking specific professional advice on the particular facts and circumstances in issue. Immigration Manual Immigration Manual INTRODUCTION This manual is designed to provide a general overview of the immigration laws and procedures of various countries. Please note that the immigration laws and procedures are constantly changing and are subject to new policies and developments. Therefore, this manual is not intended to be exhaustive and specific questions should be directed to the Executive Transfer and Immigration Department of Baker & McKenzie, Hong Kong. -
Hijjas Kasturi and Harry Seidler in Malaysia
Proceedings of the Society of Architectural Historians, Australia and New Zealand 30, Open Papers presented to the 30th Annual Conference of the Society of Architectural Historians, Australia and New Zealand held on the Gold Coast, Queensland, Australia, July 2-5, 2013. http://www.griffith.edu.au/conference/sahanz-2013/ Amit Srivastava, “Hijjas Kasturi and Harry Seidler in Malaysia: Australian-Asian Exchange and the Genesis of a ‘Canonical Work’” in Proceedings of the Society of Architectural Historians, Australia and New Zealand: 30, Open, edited by Alexandra Brown and Andrew Leach (Gold Coast, Qld: SAHANZ, 2013), vol. 1, p 191-205. ISBN-10: 0-9876055-0-X ISBN-13: 978-0-9876055-0-4 Hijjas Kasturi and Harry Seidler in Malaysia Australian-Asian Exchange and the Genesis of a “Canonical Work” Amit Srivastava University of Adelaide In 1980, months after his unsuccessful competition entries for the Australian Parliament House and the Hong Kong Shanghai Bank headquarters, Harry Seidler entered into collaboration with Malaysian architect Hijjas (bin) Kasturi that proved much more fruitful. Their design for an office building for Laylian Realty in Kuala Lumpur was a departure from Seidler’s quadrant geometries of the previous decade, introducing a sinuous “S” profile that would define his subsequent work. Although never realised, Kenneth Frampton has described this project as a “canonical work” that was the “basic prototype for a new generation of medium to high-rise commercial structures.” But Seidler’s felicitous collaboration with Hijjas was evidently more than just circumstantial, arising from a longer term relationship that is part of a larger story of Australian-Asian exchange. -
Recent Trends in Transnational Population Inflows Into Malaysia: Policy, Issues and Challenges
MalaysianRecent JournalTrends ofin EconomicTransnational Studies Population 51 (1): 9-28, Inflows 2014 into Malaysia: Policy, Issues andISSN Challenges 1511-4554 Recent Trends in Transnational Population Inflows into Malaysia: Policy, Issues and Challenges Azizah Kassim* Universiti Kebangsaan Malaysia Abstract: Malaysia’s foreign population increased rapidly in the last three decades. In 1980, of a population of over 13 million, 0.49 per cent were non- citizens. In 2010, the number of non-citizens increased to 2.3 million, making up 8.3 per cent of a total population of 28.4 million. The majority is low skill workers, both legal and irregular. There are also other groups comprising expatriates, international students, participants of the ‘Malaysia My Second Home’ programme, and asylum seekers/refugees whose numbers are relatively small. The inflows which contribute significantly to economic development have their attendant problems. This paper takes a comprehensive view of all the major inflows, taking a cue from state policy towards them. The inflows are divided into two categories: welcome and problematic inflows. It then outlines how each inflow emerged and expanded, state responses towards them and discusses related issues and challenges. All categories of migrants have both positive and negative impacts, but the low skill workers (including asylum seekers and refugees) are the most challenging especially in relation to the economy, border security, and internal order. The paper concludes with a discussion on the urgent need to review the foreign worker policy including Malaysia’s stand on asylum seekers/refugees to address the problems related to migrants. Key words: Asylum seekers and refugees, expatriates, foreign workers, international students, irregular migrants JEL classification: F22, F24, J15, J23, J38 1. -
Kuala Lumpur, Malaysia's Dazzling Capital City
CONTENTS 4 DOING THE SIGHTS 38 SENSATIONAL SHOPPING 5 Prestigious Landmarks 39 Shopping Malls 6 Heritage Sites 42 Craft Centres 10 Places of Worship 43 Street Markets and Bazaars 12 Themed Attractions 44 Popular Malaysian Souvenirs 14 TROPICAL ENCLAVES 45 EATING OUT 15 Perdana Botanical Gardens 46 Malay Cuisine 16 KLCC Park 46 Chinese Cuisine 17 Titiwangsa Lake Gardens 46 Indian Cuisine 17 National Zoo 46 Mamak Cuisine 17 Bukit Nanas Forest Reserve 47 International Cuisine 47 Malaysian Favourites 18 TREASURE TROVES 49 Popular Restaurants in KL 19 Museums 21 Galleries 52 BEYOND THE CITY 22 Memorials 53 Kuala Selangor Fireflies 53 Batu Caves 23 RELAX AND REJUVENATE 53 Forest Research Institute of Malaysia 24 Spa Retreats (FRIM) 25 Healthcare 54 Putrajaya 54 Port Dickson 26 ENTHRALLING PERFORMANCES 54 Genting Highlands 27 Premier Concert Halls 55 Berjaya Hills 27 Cultural Shows 55 Cameron Highlands 28 Fine Arts Centres 55 Melaka 29 CELEBRATIONS GALORE 56 USEFUL INFORMATION 30 Religious Festivals 57 Accommodation 31 Events and Celebrations 61 Getting There 62 Getting Around 33 ENTERTAINMENT AND 65 Useful Contacts EXCITEMENT 66 Malaysia at a Glance 34 Theme Parks 67 Saying it in Malay 35 Sports and Recreation 68 Map of Kuala Lumpur 37 Nightlife 70 Tourism Malaysia Offices 2 Welcome to Kuala Lumpur, Malaysia’s dazzling capital city Kuala Lumpur or KL is a modern metropolis amidst colourful cultures. As one of the most vibrant cities in Asia, KL possesses a distinct and charming character. Visitors will be greeted by the Petronas Twin Towers, a world-renowned icon of the country. The cityscape is a contrast of the old and new, with Moorish styled buildings standing alongside glittering skyscrapers. -
Laws of Malaysia
Enforcement Agency Integrity Commission 1 LAWS OF MALAYSIA Act 700 ENFORCEMENT AGENCY INTEGRITY COMMISSION ACT 2009 2 Laws of Malaysia ACT 700 Date of Royal Assent ... ... 19 August 2009 Date of publication in the Gazette ... ... ... 3 September 2009 Publisher’s Copyright C PERCETAKAN NASIONAL MALAYSIA BERHAD All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means electronic, mechanical, photocopying, recording and/or otherwise without the prior permission of Percetakan Nasional Malaysia Berhad (Appointed Printer to the Government of Malaysia). Enforcement Agency Integrity Commission 3 LAWS OF MALAYSIA Act 700 ENFORCEMENT AGENCY INTEGRITY COMMISSION ACT 2009 ARRANGEMENT OF SECTIONS PART I PRELIMINARY Section 1. Short title, commencement and application 2. Interpretation PART II ESTABLISHMENT AND FUNCTIONS OF THE COMMISSION 3. Establishment of the Commission 4. Functions of the Commission 5. Constitution of the Commission 6. Remuneration 7. Term of office 8. Vacation of office 9. Meetings of the Commission 10. Temporary exercise of functions of Chairman 11. Disclosure of interest 12. Exercise of functions and powers of the Commission by a Commissioner 4 Laws of Malaysia ACT 700 PART III ADMINISTRATION Section 13. The Secretary 14. Officers and staff of the Commission 15. Consultants 16. Complaints Committee 17. Task Force 18. Other committees 19. Authority card 20. Use of staff, facilities or services 21. Cooperation with other agencies PART IV DEALING WITH COMPLAINTS 22. General power of the Commission in dealing with complaints 23. Complaints of misconduct 24. Scope of misconduct 25. Preliminary investigation 26. Findings of the Complaints Committee 27. -
International Medical Travel and the Politics of Therapeutic Place-Making in Malaysia
INTERNATIONAL MEDICAL TRAVEL AND THE POLITICS OF THERAPEUTIC PLACE-MAKING IN MALAYSIA Meghann Elizabeth Ormond A Thesis Submitted for the Degree of PhD at the University of St. Andrews 2011 Full metadata for this item is available in Research@StAndrews:FullText at: https://research-repository.st-andrews.ac.uk/ Please use this identifier to cite or link to this item: http://hdl.handle.net/10023/1681 This item is protected by original copyright This item is licensed under a Creative Commons License International medical travel and the politics of therapeutic place-making in Malaysia International medical travel and the politics of therapeutic place-making in Malaysia A thesis submitted to the University of St Andrews for the Degree of Doctor of Philosophy Meghann Elizabeth Ormond Department of Geography and Sustainable Development School of Geography and Geosciences University of St Andrews St Andrews, Fife, United Kingdom 31 January 2011 i International medical travel and the politics of therapeutic place-making in Malaysia Declaration I, Meghann Elizabeth Ormond, hereby certify that this thesis, which is approximately 76,902 words in length, has been written by me, that it is the record of work carried out by me and that it has not been submitted in any previous application for a higher degree. I was admitted as a research student in September 2006 and as a candidate for the degree of PhD in Geography in May 2007; the higher study for which this is a record was carried out in the University of St Andrews between 2006 and 2010. Date_________ __ Signature of candidate ______________________________________________ I hereby certify that the candidate has fulfilled the conditions of the Resolution and Regulations appropriate for the degree of PhD in Geography in the University of St Andrews and that the candidate is qualified to submit this thesis in application for that degree. -
INDIGENOUS GROUPS of SABAH: an Annotated Bibliography of Linguistic and Anthropological Sources
INDIGENOUS GROUPS OF SABAH: An Annotated Bibliography of Linguistic and Anthropological Sources Part 1: Authors Compiled by Hans J. B. Combrink, Craig Soderberg, Michael E. Boutin, and Alanna Y. Boutin SIL International SIL e-Books 7 ©2008 SIL International Library of Congress Catalog Number: 2008932444 ISBN: 978-155671-218-0 Fair Use Policy Books published in the SIL e-Books series are intended for scholarly research and educational use. You may make copies of these publications for research or instructional purposes (under fair use guidelines) free of charge and without further permission. Republication or commercial use of SILEB or the documents contained therein is expressly prohibited without the written consent of the copyright holder(s). Series Editor Mary Ruth Wise Volume Editor Mae Zook Compositor Mae Zook The 1st edition was published in 1984 as the Sabah Museum Monograph, No. 1. nd The 2 edition was published in 1986 as the Sabah Museum Monograph, No. 1, Part 2. The revised and updated edition was published in 2006 in two volumes by the Malaysia Branch of SIL International in cooperation with the Govt. of the State of Sabah, Malaysia. This 2008 edition is published by SIL International in single column format that preserves the pagination of the 2006 print edition as much as possible. Printed copies of Indigenous groups of Sabah: An annotated bibliography of linguistic and anthropological sources ©2006, ISSN 1511-6964 may be obtained from The Sabah Museum Handicraft Shop Main Building Sabah Museum Complex, Kota Kinabalu, Sabah,