COMPETITIVENESS INFOLINE I N F O L I N E : TUESDAY, APRIL 8, 2016 0 1 / 2 0 1 6 STRIVE TO REALISE HIGH - INCOME NATION GOAL STABILITY: Economic achievement and wellbeing of rakyat are key, says king Yang di-Pertuan Agong Tuanku Abdul Halim Mu'adzam Shah wants the government to continue the goal of becoming a high-income economy that also ensures the wellbeing of the people. "We hope this administration will continue to realise the country's objective of becoming a high- income, advanced nation that is not premised solely on economic achievement, but also on the well­being of the people," the king said. Speaking at the opening of the fourth session of the by 2020. 13th Parliament sitting here yesterday, Tuanku Abdul Halim said the government was concerned about the rakyat, especially the bottom 40 per cent "The government will continue to provide and the middle 40 per cent income groups. allowance to the disabled, assistance to poor children, temporary shelter to those in need, as well as medical assistance to retirees and civilians." He He added that the groups' well­being would be welcomed the setting up of the Special Committee improved through the increase in minimum wage, to address the increase in cost of living and the expanding the social security network providing addition of zero-rated goods. micro-finance facilities, upgrading of skills, and the expansion of the e-Rezeki and e-Usahawan programmes under the 11th Malaysia Plan, which The programme to build afford­ able homes and will kick off this year. The government will also access to quality healthcare would be intensified, he provide high-speed broadband, with at least 95 per said. cent of the population having access to the Internet INFOLINE: 01/2016 NEWS STRAITS TIMES TUESDAY, MARCH 8, 20 16 "So far, 50 per cent of the one million homes plunge the nation into chaos. targeted to be constructed between 2013 and 2018 "As such, we support proactive measures through have been completed." legislation and the upgrading of military assets to stop extremism and the spread of militant Other initiatives such as interest free loans for ideologies." Orang Asli, as well as the 1Malaysia Civil Servants Housing scheme and 1Malaysia People's Housing Programme, would continue, he added. He said the government was committed to upgrading security infrastructure at the borders and empowering the control of security agencies The government is also committed to continue through the Border Security Agency. improving the quality of life of Orang Asli and Bumiputeras in Sabah and Sarawak. Malaysia's participation in the Regional Digital Counter-messaging Communication Centre to The king said the attempts of some parties to combat terrorism and human trafficking had play up racial sentiments and abuse social media to gained international recognition and helped to incite, slander and spread extremist contents must improve the country's ranking in the United States be stopped and ad­ dressed immediately. State Department's annual re­ port on human trafficking, he added. "Religious issues have to be referred to religious authority and it is group to make their own Tuanku Abdul Halim thanked the civil service and interpretation as this can create confusion, tension the sacrifices of the armed forces, police, civil and conflict in society." defence and enforcement agencies to pre serve the nation's sovereignty and security. Tuanku Abdul Halim hoped the measures to strengthen religious institutions and enhance the efficiency of Islamic administration laws through He welcomed efforts to transform Parliament. the empowerment of the Syariah Court could be sped up. "We hope that the members of parliament (MPs) will accept the amendments to make the He said efforts to discredit the nation in the eyes of institution stronger and more effective as a branch the international community should be avoided. of national administration. Tuanku Abdul Halim hoped civil servants would "I also hope all MPs will stop politicking for narrow protect the confidentiality of government interests as this has gone on for too long, and has documents and adhere to the laws and rules to exhausted the people and government. safeguard national stability. He earlier said security and terror elements which threatened the nation "In a constitutional democracy, we can have were real. differences of opinion but refrain from fostering enmity and slander that can lead to the­ downfall of "The development of militant threats and terror the nation." elements, which have started to spread in the country, has to be given serious attention as it can INFOLINE: 01/2016 COMPETITIVENESS INFOLINE I N F O L I N E : WEDNESDAY, APRIL 20, 2016 0 1 / 2 0 1 6 TPP BOOST FOR SMES UALA LUMPUR: SMALL and medium enterprises (SMEs) of the 12- member K grouping of the Trans Pacific Partnership can look to the support of all the governments to break entry into global value chains. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said an SME committee, represented by the government and private sector, will be set up when the TPP agreement takes effect. Capacity-building in terms of exports, cooperation, information- sharing will be addressed, while a International Trade and Industry Minister Datuk Seri dedicated website will also be set up to help SMEs Mustapa Mohamed addressing SMEs at the TPP sharing adjust to a trading bloc (without borders). session in Kuala Lumpur yesterday. In Malaysia’s case, he said, SMEs must take “SMEs must keep up with the changes in the advantage of the opportunities to gain market business landscape, lifestyle patterns and the Gen Y access to the United States, Canada, Mexico and purchase habits so as to remain in business,” Peru, countries which Malaysia does not have a free Mustapa said during a TPP sharing session with trade agreement with. SMEs, here, yesterday. The TPP agreement, which is expected to take The TPP is about scale and increased market access effect two years from when it was inked in February for Malaysia products, which in turn provides 4 this year, has a special chapter on SMEs. spillover and multiplier effects to economic activities to even the “remotest villages”. SMEs form the backbone of the economies of most of the TPP countries, providing more than 50 per Speaking to the media later, Mustapa explained cent of job opportunities. that the government is providing various capacity- building programmes over the next two years to INFOLINE: 01/2016 NEWS STRAITS TIMES WEDNESDAY, APRIL 20, 2 0 1 6 prepare the players in the textile industry. They include training programmes to improve the Dealing with customized container solution for the standards to enter the global market. oil and gas sector, which include rigs and FPSO, the company has been producing for export markets. Malaysia has been identified as one of the key beneficiaries in the textile sector and 10,000 SMEs It also won the coveted Asean Business Award 2015 stand to benefit. for SME excellence last month. The entry for products like shirts, which make up 35 Fadzil A Rashid, who is in the lighting industry, per cent of the textile exports to the US, will see a cautioned that it will not be easy to move into the surge since the current 25 per cent duty will be international market as standards have to be eliminated, he added. complied with. Come 2018, Malaysia will stand to benefit from the “We complement the ‘big boys’ and not compete tariff reduction for products in the electrical and with them,” he added. electronics (E&E) sector, rubber products, palm oil, transparent equipment and wood products. Canada will eliminate tariffs for Malaysian exports in E&E and palm oil when the TPP agreement comes into effect. Meanwhile, several SMEs shared their excitement about the changing business landscape in the Pacific Rim. Builders Biomass Sdn Bhd chairman Ooi Suan Kim described the TPP agreement and Asean Economic Community as two platforms for the company and other Malaysian SMEs to leverage and expand their market reach. “For us, in the face of challenges, we embrace changes to adapt, carving out our niche. The TPP is a catalyst for us to chart our future.” Builders Biomass produces biomass waste pellets as a source of green energy and its exports span across Asia and Europe. VG Offshore Containers International (M) Sdn Bhd managing director Arvin Menon said his company can now venture into unchartered waters, in countries like Mexico, thanks to the TPP. INFOLINE: 01/2016 COMPETITIVENESS INFOLINE I N F O L I N E : WEDNESDAY, APRIL 20, 2016 0 1 / 2 0 1 6 ECONOMISTS SEE 3.2 pc CPI GRO WTH UALA LUMPUR: The Consumer Price Index INFORGRAPHICS NST may have grown by 3.2 per cent in March CPI forecast for March K compared with the same period a year ago, say economists. (% year-on-year) The Statistics Department will release the data AmInvestment Bank 3.6 today. BIMB Securities 3.4 DBS Bank 3.5 The CPI rose by 3.5 per cent in January and 4.2 per cent in February. Kananga Investment Bank 2.5 Maybank Investment Bank 3.4 Although Bank Negara Malaysia outlook is for a RHB Research 2.6 lower and more stable inflation of 2.5 to 3.5 per cent Standard Chartered Bank 3.2 for 2016, economist expect the first quarter to post higher growth compared with last year. UOB Bank 3.4 Average 3.2 This was due to the adjustment in the administered prices and the weaker ringgit factor. Outgoing central bank governor Tan Sri Dr. Zeti Akthar Aziz held that the ringgit’s current level would be stronger if it reflected the country’s fundamentals, namely the steady growth, low inflation and an improving fiscal position.