BRIDGING YOU TO THE ARAB WORLD

Malaysia and the Arab World Arabic English Monthly Magazine (15thth ofof EveryEvery Month),Month), IssueIssue 86,91, FebruaryJuly 2016 2016 / PP 16000/07/2013(032927) / PP 16000/07/2013(032927)

EXCLUSIVE INTERVIEW WITH TURKISH AMBASSADOR TO BAŞAK TÜRKOĞLU

IMF URGES GCC TO TAKE MEASURES TO WARD OFF SYSTEMIC RISKS ISTANBUL NEW AIRPORT ALL

9 772462 249006 SET AS A HUB ISSN ISSUE 91 RM 6 2462-2494 PP 16000/07/2013(032927) FOR THE 21ST CENTURY 91

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TERRORISM AND TOURISM...

Terrorism is a strategic issue of huge concern to nations and people alike, digital issue where catastrophes and its consequences pose a threat to individuals and the community, as those events influence the economy; especially the tourism sector; most recently the unfortunate terrorism attack at Ataturk airport in Istanbul, Turkey , and previously in Egypt, Tunisia and many other nations. A lot of nations worldwide are living in a state of fear and instability caused CHAIRMAN EDITORIAL QATAR OFFICE: by the targeting of terrorist groups that manifests in different forms, Dato Noor Mohamad Mohamed Al Soofi Tel: +974 6668 2824 however, the threat affects vast areas that rely mainly on tourism, a major Mohamed Hassan Mob.: +974 33115135 and important revenue resource. EXECUTIVE EDITOR-IN-CHIEF Maher Ibrahim Director & DG Yusuf Waswas Mohamad Al Boutary In a report of the world travel and tourism council released on March, the Dr. Abdulrahim Abdulwahid Eiad Mahmoud Yousuf phenomenon of terrorism came in third place after natural disasters and Abdul Karem Al Jamal OMAN OFFICE: CONSULTANT BOARD Heba Mostafa Hashem Mob.:+968 92925677 political unrest, the report showed the severe influence the terrorism crisis Datuk Seri Azman Ujang Zanib Abdulrahim Director has imposed on the world’s tourism sector, where experts analyzed various Dato Tuan Ibrahim Mohamad Saad ART DIRECTOR factors, including epidemic contagious diseases, environmental disasters, EXECUTIVE MANAGER Manal Basalamah PRINTING and unrest political unrest, and terrorism, revealing that the average period Alaa Abdulwahid Superior Press Sdn Bhd of recovery of the tourism market in a country subjected to terrorist attacks MARKETING PP13331/08/2013(032685) PR AND PUBLISHING Mohammed AbdulRaheem Lot2063A, Jalan Kusta, Dr. Abdulrahim Abdulwahid could reach up to 13 months. www.aswaqpress.com MANAGER Amal Mahfoudh Sungai Buloh Executive Editor-in-Chief & DG It may seem scary and intimidating to tourists if terrorist attacks continue to Kawasan Industri Taman [email protected] [email protected] Giath Fowze DISTRIBUTION Jaya, impact stable regions of the world as well as important tourism attractions 47000 Darul FINANCIAL MANAGER Waleed Salama and areas, which reduces the chances of tourists to achieve their dreams aswaqpress Ehsan Sara Yasmin DISTRIBUTION CENTERS to visit many famous places in the world, and despite the efforts to Malaysia, UAE, Saudi eradicate terrorism, there is still a security void which contributes to the EDITING MANAGER Arabia, Anas Salman growth of this phenomenon, which obliges everybody to work hard in order Qatar, Kuwait and Oman to restore security. PUBLIC RELATIONS E-MEDIA Basem Ayad As the tourism season in Malaysia is approaching, which aims to attract 36 Mohamed Al Soofi million tourists, with imports estimated at $ 39 billion in 2020, we believe that the government in this country is working on a serious field study relating to all images and dimensions of the tourism worldwide, and especially that Malaysia is considered among one of the few countries across the globe that adopts an open doors policy towards tourists from all over the world, as we see that it provokes terrorist groups and organizations to exploit it MALAYSIA UNITED ARAB EMIRATES No.343 )3-rd Floor) , Jalan 2570/A, Desa Sri Dubai, Deira, Abu Hail, New Safia Building, to its evil deeds and interests in conducting disruptive and aggressive Hartamas, 50480 . M. Floor, Office 53A ،Tel: +603 6201 8841 / 8842 Tel: +971 4 2972740, 2971577 [email protected] Mob.: +971 50 646 97 51 terrorism actions. www.aswaqpress.com E-mail: [email protected] Facebook.com/aswaqpress www.mediahubintl.com Finally, we hope that Malaysia does not get lift out of the tourism competition at the global level, and not to become a target of antagonists aiming to sabotage and compromise the achievements that have been made throughout a long journey of sacrifice, effort, and hard work which in turn DISTRIBUTION LOCATIONS benefited the entire nation, God is the ultimate keeper, but we have to EMIRATES AIRLINES BUSINESS LOUNGE  PAVILION MALL KUALA LUMPUR  SUNWAY LAGOON PARK ROYAL HOTEL KL  MALAYSIAN AIRLINES (IN-FLIGHT)  POPULAR BOOKSTORE work hard and be vigilant and warry all the time. TIMES BOOKSTORE  TIMES THE BOOKSHOP  BERJAYA BOOKS WH SMITH (KLIA, LANGKAWI AIRPORT, AIRPORT)  COLD STORAGE MY HERO  MERCATO  AEON BIG

ASWAQ Magazine | July 2016 7 ASWAQ Info ASWAQ Info

‘ABU DHABI PLAN’ CAPITALISING ON ECONOMIC STRATEGIES 14

MATRADE LAUNCHES MALAYSIA-TURKEY INDEX BUSINESS CLUB 18 ISTANBUL NEW EXCLUSIVE INTERVIEW WITH TURKISH AIRPORT ALL SET AS AMBASSADOR TO MALAYSIA A HUB FOR THE 21ST CENTURY 16 BAŞAK TÜRKOĞLU 24

IMF URGES GCC TO TAKE MEASURES TO WARD OFF SYSTEMIC RISKS 10 26

WORLD BANK CUTS GCC GROWTH FORECAST

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One can also envision Malaysia and Turkey as both located in the middle of major sea trade routes. stable and successful moderate Muslim countries Malaysia, a member of ASEAN and a major player EXCLUSIVE INTERVIEW WITH TURKISH AMBASSADOR TO MALAYSIA working together to promote global peace and in the region, is considered as a natural partner understanding. Turkey and Malaysia have long for Turkey. We look forward to further deepen our been regarded as the most developed countries relations with ASEAN and I think that the opening BAŞAK TÜRKOĞLU: in the Muslim world. Through a historic commitment door pass through Malaysia. There are many fields to modernization and development, they have such as trade, tourism, aviation, maritime transport, I FELT VERY MUCH AT HOME FROM THE VERY FIRST not only achieved standards of infrastructure, education, culture, science and research which education, health care, but also industrialization would yield mutually beneficial results for both MOMENT I STEP FOOT IN MALAYSIA AND I AM HAPPY and economic progress that are comparable to countries. TO SEE THAT THE RELATIONS BETWEEN THE TWO many other developed countries.

COUNTRIES IS CONSTANTLY DEVELOPING. Welcome to “ASWAQ” Magazine, and we are here STRENGTHEN to discuss about the history of relations between Turkey and Malaysia RELATIONS The relations between Turkey and Malaysia have been strong since the establishment of diplomatic BETWEEN relations in 1964. We currently enjoy very good political, economic and cultural relations. Turkey THE TWO and Malaysia have similar positions on most global issues and we share deep historical and religious COUNTRIES IN ties which further strengthen the bonds between Turkish and Malaysian people. Both countries VARIOUS FIELDS also face similar opportunities and challenges for various reasons, such as their geographical location. Turkey being a country in Eurasia region How would you describe the economic rela- and Malaysia having a similar important location tions between Turkey and Malaysia and what is in the South East Asia. it based on? The bilateral economic and trade relations are considered very well and at the same time they are also very promising. Over the last ten years the trade between the two countries has doubled, a free trade agreement was signed and came into effect last year in August. This has injected a new momentum to our bilateral trade. It is the first free trade agreement Turkey signed with an ASEAN member country. Our export to Malaysia is mainly based on defense industry projects. Then comes the petroleum products, gold, carpets, minerals and food products. In terms of imports, Turkey mainly during the visit of Minister of Foreign Affairs, Mevlut Cavusoglu. Mohd Alsoofi- Kuala Lumpur imports palm oil, synthetic yard, rubber, electronic In recent years, senior officials from both countries have recalled their historical ties Asia-Pacific is considered as the rising power circuits, coconut, telephones, raw aluminum and and have trumpeted the bilateral relationship’s potential, especially in the economic and ASEAN is one of the important regional synthetic fibers. Mostly we import raw materials scene. Some envision Turkey serving as Malaysia’s diplomatic and economic gateway organizations in this region. ASEAN, being the 8th and intermediary products. to Europe, with Malaysia becoming Turkey’s entry point to the Asia Pacific region. largest economy in the world and the 4th biggest When we look at the figures in 2015, our exports trade entity in the world with a dynamic population to Malaysia increased 13.4% and our imports of almost 650 million people, is strategically increased 15.3%. The overall trade volume

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Turkey offers various options to people from information through our social media accounts different walks of life. You know that Turkey has a and they can reach us 24 hours, round the clock. deep-rooted history. It is described as the cradle of civilizations. Historical tourism is one of the main How do you describe your experience in Malaysia attractions for many. The Islamic heritage and and its people? What’s your impression on the history in Turkey is also interesting to Malaysian food and the culture here? tourists. Many Malaysians transit in Istanbul Everything is beautiful in Malaysia. People, before performing their "Hajj and Umra" duties. culture, food, nature, greenery and landscape Furthermore, Turkey enjoys four seasons, which is are amazing. You know that we, diplomats are also an interesting factor for Malaysian tourists. travelling a lot and are living in many countries. Vacations in Turkey are quite affordable in terms I did not spend time in every continent but I can of food and products where shopping is good still say that I haven’t met people like Malaysians due to the variety of options, good quality and before in my life. The Malaysian people are very reasonable prices. A shopping festival is held in good hearted, friendly and welcoming. That is during the presentation of credentials Istanbul every year which lasts a month. Turkish why I felt at home from the very first moment I step increased 15%. So it’s gaining more momentum. hygiene products such as soaps, toothpaste, etc. cuisine is another attraction for tourists visiting foot in Malaysia. I didn’t have to adjust myself. In 2015, Turkey’s exports to Malaysia valued at USD and they export to Europe and the Middle-East Turkey from around the world. Furthermore, Malaysians have preserved their 357 million, while Turkey imported USD 1.339 billion and other parts of the world. There are direct flights by Turkish Airlines twice a day values and traditions. I really enjoy the worth of products from Malaysia. FNSS, a Turkish company operating in defense between Kuala Lumpur and Istanbul. Travelers not human touch of their personality. industry, produces armored vehicles for the only prefer Turkish Airlines to go to Turkey, but also As for the food, I have tried quite What is your opinion on the investment sector Malaysian army in collaboration with its Malaysian they take advantage of its good flight connections a lot of local food. I also did enjoy between the two countries and how do you evalu- partner “DefTech”. There are also new agreements to Europe and Africa. We can say that Turkey has quite a lot of fruits and I personally ate this sector? and deals in the defense industry sector. become an important transportation hub for the consider Mangosteen as the The Malaysian investments in Turkey could Looking to other investments, there is a company civil aviation sector. king of fruits. It is a piece of art be categorized under three main areas: which produces polyethylene pipes. There are with its color, shape and taste. transportation, health and energy. Khazanah also some chemical firms, in addition to small What is the status of the Turkish community in I have visited many places in Nasional, the state investment fund, is one of the businesses in the clothing industry. Malaysia and is there a constant contact between Kuala Lumpur and in Malaysia. big investors in Turkey. The latest development is BEKO, which is a very the community and the embassy? I have travelled to , Malaysia Airports Holdings Berhad (MAHB), a well-known Turkish company that produces There is a small Turkish community living in , Kelantan, Perlis, portfolio company of Khazanah, was part of the electrical appliances for households and Malaysia, the number does not exceed 350. Penang and consortium which built the second international consumer electronics. They provide a wide range There are approximately 90 students who study in and will continue to airport in İstanbul, "Sabiha Gokcen Airport". Now of world class products that are famous in Europe Malaysia, most of them receiving their education do so. they also operate the airport. and other parts of the world. They opened an in International Islamic University Malaysia (IIUM). Khazanah, through “Integrated Healthcare office here which I believe will be very competitive We also have Turkish professionals who Holdings Berhad” (IHH), owns 75% of Acıbadem in the market due to the high quality of products. work for oil and gas companies or Group, a chain of hospitals in Turkey. In 2013, IHH Overall, both countries provide very good and international organizations such also bought the insurance company of Acıbadem. lucrative investment opportunities. Khazanah for as IOM, UNHCR, WHO. There are Very recently, Tenaga Nasional Berhad acquired example has an office in Istanbul, which was its some Turkish citizens who married 30% of the shares of Gama Energy, a very well- 4th regional office after Beijing, Mumbai and San Malaysians and live here. Overall, known Turkish company. They entered into Turkey’s Fransisco. This shows Turkey’s great potential for the number of Turks residing in expanding energy sector in a deal worth USD 255 Malaysia as an investment partner. Malaysia is quite small and the million. It enables Tenaga Nasional to pursue its Embassy regularly organizes goals beyond Turkey, in the surrounding region Tourism is of great importance for the Malaysian gatherings with Turkish community such as Europe, Middle East, and Caucasia- economy, do you assess the tourist traffic on special occasions and events, Central Asia etc. between the two countries? such as the National Day, Eid al The major Turkish investment in Malaysia is in palm In 2015, 15,000 Turkish people visited Malaysia, Fitr, Eid al Adha etc. We also come oil sector. There is an oleo chemical factory, built by while 70,000 Malaysians visited Turkey. Tourism together separately with students Evyap, a well-known Turkish company. It produces Malaysia has an office in Istanbul. or businessmen. We share

12 ASWAQ Magazine | July 2016 ASWAQ Magazine | July 2016 13 Report Report TURKISH AIRLINES SIGNS PACT WITH MALAYSIAN CARRIER

MATRADE LAUNCHES Kuala Lumpur – “ASWAQ” Turkish Airlines has inked an interlining pact with Malindo Air, a MALAYSIA-TURKEY Malaysian-based premium airline, to create better connectivity for BUSINESS CLUB air travelers from Southeast Asia to Europe. Turkish Airlines' Deputy Chairman & CEO, Temel Kotil Kuala Lumpur – “ASWAQ” said, “the partnership would bring mutual benefits for The Malaysia External Trade Development Corporation the rapidly-growing relations between the two countries. (MATRADE) has launched Malaysia - Turkey Business The Turkish Airlines-Malindo Air collaboration would Club (MTBC) to improve the communication channel provide multiple travel alternatives to passengers and between Malaysian companies and Turkish players. It eventually increase traffic between European and Asian was launched at a networking luncheon attended by destinations.” both Malaysian and Turkish companies.

Temel Kotil, Turkish Airlines' Deputy Chairman & CEO

MTBC, established as a non-governmental Australia. Whilst Turkish Airlines connects 240 international organization to support and represent companies destinations with Istanbul, the only city in the world in various sectors, is aimed at providing a platform straddling two continents, serving as its main hub. for Malaysian and Turkish companies to network The interline partnership, according to Malindo Air CEO and share useful information in creating more Chandran Rama Muthy, enables Malindo Air to expand joint venture projects and business opportunities textiles, clothing and footwear at RM740.9 million; its network, including more flights, more gateways and Chandran Rama Muthy, CEO of Malindo Air for trade and investment. chemicals and chemical products RM580.7 more destinations, thus making travel borderless from MTBC was formed following the Malaysia-Turkey million; manufactures of metal RM334 million and Malindo Air, a joint venture between Malaysia's National the Asian region. Malindo Air also offers incentives Free Trade Agreement (MTFTA) that came into rubber products RM283.6 million. Aerospace and Defence Industries and Lion Air of to frequent travelers offering passengers even more effect on 1st August 2015. Under the MTFTA, Main imports from Turkey were petroleum products Indonesia, began operations in March 2014. It currently options when traveling to Turkey and beyond. Malaysia and Turkey agreed to eliminate their valued at RM323.6 million; textiles, clothing serves over 800 weekly flights to 40 cities in 12 countries, customs duties at approximately 70 per cent of and footwear RM127.7 million; chemicals and namely India, Southeast Asian countries, China and the total tariff lines. At the end of eight years of chemical products RM106.8 million; machinery, elimination period, Malaysia will eliminate 99 per appliances and parts RM103.2 million, and cent of the tariff lines while Turkey is set to eliminate processed food RM99.7 million. 86 per cent. Malaysia’s trade with Turkey for the period January Since the inception of MTFTA, Malaysia’s exports to February 2016, increased by over 100 per cent to Turkey had increased by 54.5 per cent from to RM1.21 billion as compared to RM573.3 million RM2.46 billion in 2014 to RM3.8 billion in 2015, at the same period in 2015. Growth in trade was while imports were valued at RM1.85 billion in 2015 driven by exports which rose by 136.9 per cent compared to RM710.7 million in the previous year. from RM438.1 million in January-February 2015 to RM1.04 billion in January-February 2016. Imports Malaysian trade with Turkey had also increased by 28.3 per cent from RM135.2 Malaysia’s major exports to Turkey were palm oil million in January-February 2015 to RM175.3 and palm-based products worth RM1.08 billion; million for the same period in 2016.

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ISTANBUL NEW AIRPORT ALL Travellers connecting Other project components at this stage include SET AS A HUB FOR THE 21ST through the hub should the construction of 88 passenger boarding also expect a market- bridges, a covered car park with capacity for CENTURY leading lounge from 12,000 vehicles, 3 independent runways, 8 Turkish Airlines, which parallel taxiways, an apron covering 4.0 million Istanbul – “ASWAQ” recently added a further square metres, cargo and other ancillary facilities. The Istanbul New Airport’s latest designs have been released, this time for its air 2,400 square metres to Construction of the new airport will utilise about traffic control tower. The 95-metre structure resembling a tulip and representing its 3,500 square metres 350,000t of iron and steel, 10,000t of aluminium the Turkish symbol, is an elliptical tower designed by the US firm Aecom and the lounge in Ataturk airport. and 415,000m² of glass. leading Italian automotive design company, Pininfarina. The first phase of the new airport will feature three runways, one main The new design for the air traffic control tower, Yusuf Akçayoglu, The terminal with two satellite which beats competition from global architects Chief Executive of Istanbul terminal buildings, Grand Airport such as Zaha Hadid, will act as a crowning glory to 88 aircraft passenger the passenger terminal design from the architects bridges, hospitals, hotels and convention centres. Grimshaw and Nordic. It is expected to be open late next year. Yusuf Akçayoglu, the chief executive of Istanbul Grand Airport, the company responsible for the Project Details development said, “We were looking for a striking The first stage of construction will involve two The final stage of construction will involve building design fit for a 21st-century airport while remaining terminals, including the main terminal with a gross an additional terminal covering 340,000m², able sensitive to Istanbul’s unique heritage.” floor area of approximately one million square to handle up to 30 million passengers, another The first phase of the new airport project ambitiously metres, and a satellite terminal covering an area runway, parallel taxiways, and an apron. aims to serve 90 million passengers per year, of 170,000m². increasing to 150 million passengers per annum upon completion. These figures will easily beat Dubai International Airport’s passenger numbers, currently standing at about 70 million passengers per year, according to the Airports Council International. The new airport, which is 35 kilometres from Istanbul, much farther than the current airport, will have six runways developed and delivered in four phases. A large plaza and transport hub will be built at the entrance, allowing the airport to integrate with existing rail, metro and bus routes, to help business travellers connect to the city.

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The government of Abu Dhabi, with close follow- statistics and figures up from Shaikh Hazza bin Zayed Al Nahyan, Vice- on the results of Chairman of the Abu Dhabi Executive Council, Abu Dhabi's non-oil is keen on achieving the goals and priorities of activities that have economic development within the Abu Dhabi shown positive and ‘ABU DHABI PLAN’ Plan, which is led by the Abu Dhabi Department of considerable growth Economic Development (ADDED). rates that amounted CAPITALISING ON Ali Majed Al Mansouri, chairman of ADDED spoke to 8.2 per cent in fixed on the occasion of the announcement of the Abu prices in Q4,2015, ECONOMIC STRATEGIES Dhabi Plan during the Abu Dhabi Government as compared to the Employees Forum at the Abu Dhabi National same quarter in the Dubai – “ASWAQ” Exhibition Centre. He said that ADDED works in previous year when Ali Majed Al Mansouri, The Abu Dhabi Plan, aims at enhancing the emirate's cooperation and coordination with government, their contribution to Chairman of ADDED competitiveness in line with the objectives of Abu Dhabi Vision semi-government and private sectors across the Abu Dhabi's GDP in fixed prices of 2007 amounted 2030, is said to provide a clear track to the vision of the wise emirate. to 50.7 per cent during the same period. leadership of Abu Dhabi. The plan is headed by the President, His Al Mansouri also mentioned that the ADDED Abu Dhabi’s overall economic performance Highness Shaikh Khalifa bin Zayed Al Nahyan, and the insightful ‘Strategic Plan 20162020-’ focuses on its goals during Q3, 2015 remained bullish as non-oil GDP in directives of His Highness Shaikh Mohammed bin Zayed Al Nahyan, on the four pillars of economic development, fixed prices rose to 7.1 per cent. The oil economy Crown Prince of Abu Dhabi, Deputy Supreme Commander of the namely: creating a competitive, resilient business grew 3.9 per cent in the same quarter. UAE Armed Forces and Chairman of the Executive Council of the environment; building an active private sector Al Mansouri concluded by saying that these Emirate of Abu Dhabi. and leading investment opportunities; promoting results showed that the economy of Abu Dhabi an attractive, unique tourist destination; and continues to grow with the significant role of non- establishing vital sectors that contribute to oil sectors, whose strong performance has notably economic diversification. contributed to the strengthening of the overall A section in the Abu Dhabi Plan under ‘economic economic performance of the emirate during the development’ reveals the recently-released third quarter of 2015.

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focus on developing investment in knowledge-based, DUBAI, THE PREFERRED high value-added economic sectors as well as improved efforts to create a favourable business environment for GLOBAL FDI HUB a new phase of ambitious economic growth in Dubai. The second edition of the Dubai Investment Forum Dubai – “ASWAQ” will witness a constructive dialogue among leaders in Dubai has emerged from a time-tested trading post into a modern, diversified government and the private sector on the economic and competitive business destination. direction and business environment in Dubai. Addressing the forum will be senior government executives who play With continued investment in infrastructure development growth opportunities and partnerships to investors. key roles in economic policy and strategy along with Fahad Al Gergawi, CEO Sami Al Qamzi, Director and economic diversification, Dubai is advantageously Sheikh Hamdan added, "The Dubai government seeks private sector representatives leading transformational of Dubai Foreign Direct General of the Department positioned to be the dominant hub for the Middle to strengthen the partnership between the public and initiatives in infrastructure and services in Dubai, setting Investment (FDI) of Economic Development East, Africa, CIS and the Indian sub-continent. Dubai private sectors in all fields in order to further enhance the roadmap for Dubai as a business hub. economic development and enterprise growth more is at the same time reinforcing its sustainability and FDI. The current robust FDI flows clearly reflect the level The Crown Prince mentioned that Dubai Plan 2021 than ever, mainly on account of its emphasis on being competitiveness with a focus on growing into a smart of investor confidence in the vision and strategy of the aims to strengthen Dubai's position as a preferred a knowledge-based economy and a preferred place city of happy people and knowledge-driven business. government." global destination for FDI. The plan has set a roadmap to do business. With the infinite opportunities stemming The CEO of Dubai Foreign Direct Investment (FDI), Fahad Shaikh Hamdan also pointed out that steady FDI inflows for Dubai's prosperous future with new opportunities for out of Dubai's 2021 plan and the emirate's position as Al Gergawi said, “Dubai's emergence from a time-tested stand testimony to the diversity and readiness of Dubai's investment in the infrastructure, services and knowledge the supply chain and services hub for an expanding trading post into a modern, diversified and competitive economy as well as its ability to keep pace with regional sectors. He added, “Our leadership pays special geography covering high-growth markets, the Dubai business destination calls for sustained dialogue and and global development. The growth across various attention to the promotion of investment in the UAE Investment Forum provides a significant opportunity to engagement with a wider community of investors, industry sectors and continued efforts to enhance the and attracting regional and international companies to connect with investors and key decision-makers, looking governments and innovators.” competitiveness of the emirate will reinforce the vital improve the foreign investment base.” for the right locations.” Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, role it plays as a global economic hub. On the other hand, the Dubai Investment Development The Dubai Investment Forum 2016 will have four sessions, Crown Prince of Dubai and Chairman of Dubai Executive The Dubai Investment Forum 2016 will be held in October Agency, an agency of the Department of Economic beginning with the macro-economic scenario in Dubai Council, said that the annual Dubai Investment Forum this year by Dubai Investment Development Agency Development (DED), focuses on establishing solid and progressing through the advantages of investing has proven successful in presenting a model for the under the patronage of Sheikh Hamdan. Shaikh Hamdan foundations for the sustainability of foreign investment. in Dubai, the GCC perspective and the opportunities future of sustainable investment, bringing together called for continued support to strengthen constructive Director-general of the DED, Sami Al Qamzi said, "Dubai available in the emirate for smart investments in government departments and institutions that provide dialogue between the public and private sector, greater is presenting an interesting proposition in terms of innovation.

20 ASWAQ Magazine | July 2016 ASWAQ Magazine | July 2016 21 Report Report SAUDI ARABIA FINALISES PLAN ON DIVERSIFYING ITS ECONOMY

Dubai – “ASWAQ” Saudi Arabia have finalised a detailed plan to diversify the kingdom's economy away from petroleum, as revealed by Saudi officials to the Saudi Press Agency recently.

SAUDI ARABIA APPROVES LAND TAX, FOREIGN INVESTMENT RULES

Dubai – “ASWAQ” The Saudi Arabian cabinet has approved a controversial new tax on undeveloped land, aimed at making it more expensive for owners of empty plots of urban land measuring 10,000 square metres or more.

Under the new “White Land" tax, owners of empty in the next four years, and reducing the cost of plots of urban land designated for housing or housing from an average of about 10 times gross offices in towns and cities have to pay tax of 2.5 salaries to 5 times. The plan also includes increasing per cent of the value of land each year, according the percentage of Saudi families owning their own to the official Saudi Press Agency. homes from the current 47 per cent to 52 per The Saudi Ministry of Housing will specify which cent, and reducing the average time required to Saudi’s main economic coordinating body, the According to Vision 2030, the NTP relates to the urban undeveloped land plots would be taxed approve and license new housing projects to two Council of Economic Affairs and Development government's role in implementing the initiatives under the new law. The new land taxes are being months from more than two years presently. chaired by Deputy Crown Prince Mohammed necessary for delivering on national priorities. It introduced as part of a package of measures According to local property brokers, the new land bin Salman, recently decided to submit the "final said “opportunities for partnering with the private aimed at reducing land speculation and providing tax is already increasing the number of homes version" of the National Transformation Programme sector were being looked at, as well as innovative more affordable homes in a country with severe being developed. (NTP) to the cabinet for approval. The NTP that was administrative and funding approaches. We shortage of accommodation due to a rapidly Colliers property consultants managing director revealed in an 84-page document in April this are detailing specific initiatives that have clear growing population. in Saudi Arabia, Imad Damrah said, “Before year, elaborates on Vision 2030. performance indicators." The Saudi Arabian government has recently these changes, there used to be significant land Vision 2030 unveiled a plan to float less than five The crash in oil price in recent years has published details of the housing content of its appreciation in Saudi Arabia and that meant per cent of state oil firm Saudi Aramco on the stock accelerated Saudi efforts to diversify its economy National Transformation Plan (NTP), chaired by the that the rules were not encouraging anyone to market, the proceeds of which would become so as not to rely heavily on petroleum, which still Deputy Crown Prince Mohammed bin Salman, develop, but since these changes, already Colliers part of the world's largest state investment fund, accounts for the bulk of government income. with the aim of reducing the country’s reliance on has been involved in a number of agreements with assets worth US$2 trillion. Profits earned from Amongst its other wide-ranging goals, the vision petroleum revenue following the oil price crash. between developers and the ministry of housing the investment fund would assist in economic aims to reduce unemployment, increase women's Under the plan, there are proposals on increasing regarding affordable housing." diversification and provide an alternative to oil participation in the workforce, boost private sector the annual growth rate in the property sector from revenues that have drastically reduced by about economic contributions, and develop cultural approximately 4 per cent currently to 7 per cent half since 2014. and entertainment activities in the kingdom.

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Authors of the working paper, Ananthakrishnan Prasad, regulation by tightening capital and liquidity Heba Abdel Monem, and Pilar Garcia Martinez said, requirements and are in the midst of implementing "Effective early warning systems and regular assessments Basel III standards on capital, liquidity, and leverage. of systemic risks are integral parts of macro-prudential A number of central banks in the Arab region have policies. Macro stress testing would help the regulators already started establishing separate financial stability to align the macro-prudential toolkit with the changing office/unit, and conducting periodic stress testing of IMF URGES nature of financial risks, and that better monitoring of banks, in addition to implementing an early warning systemic risks and addressing financial vulnerabilities system. The Arab regulatory authorities are also working GCC TO TAKE could be achieved through several steps, including on addressing the challenges they are likely to face in developing a financial stability risk map.” coping with the Basel III regulations, especially those MEASURES The map would include all the risk elements vital for related to liquidity standards. financial stability, including credit growth, financial TO WARD OFF activities, and interconnectedness. In addition to market risk, the map would also identify liquidity risk, contagion SYSTEMIC RISKS risk, real estate exposure risk and other risks related to linkages between different components of the financial Dubai – “ASWAQ” sector, structural indicators and financial infrastructure. The International Monetary Fund (IMF) recommends, in The IMF paper noted that many countries in the Arab a recent working paper, for the GCC countries to further region, particularly the GCC, are ahead of others strengthen their macro-prudential framework to ward off a around the world in implementing several measures potential systemic risk. that are now widely accepted as macro-prudential tools. These measures include the loan-to-deposit ratio, In its report 'Macro-prudential Policy and Financial forecast for the GCC to 1.8 per cent this year, down from regulations on personal lending such as debt service Stability in the Arab region' it mentioned, “Arab countries 3.3 per cent in 2015, and urged spending cutbacks, said to income ratio and limits on loan tenor, and limits on With regard to potential credit risks, the IMF document have to strengthen their capacities for monitoring time- there is a need to strengthen the regulatory capacity to concentration, including on real estate exposure. noted that the majority of the Arab region’s bank varying, and cross-sectoral, risks.” monitor and assess systemic risks. The IMF paper further stressed that there is an urgent domestic credit is concentrated in the private sector, The IMF, which last month slashed its economic growth need to address the challenges related to Basel excluding Qatar, Algeria, Yemen and Lebanon, which III implementation, and that while a number of are highly concentrated in the public sector. Arab countries are ahead in implementing Basel III On the private sector credit distribution, this also varies requirements, others are still in the early stages of amongst the GCC and the Arab oil importing countries. implementing these standards. Thus there is a further Bahrain, Egypt, Morocco, and Tunisia have a high need to step up efforts to enable Arab countries percentage of their private credit in trade, industry, and to implement Basel III standards. finance sectors. Currently, the oil-exporting GCC economies GCC banks are reported to have a large share of are heavily dependent on the oil sector the credit portfolio in personal consumption for their fiscal revenues, and their loans and the real estate sector, thus export earnings are now facing many GCC countries are faced with increased vulnerabilities to the borrower concentration risk in their crash in oil prices. The IMF credit portfolio. paper noted that since the global financial crisis, the GCC countries have improvised on prudential

24 ASWAQ Magazine | July 2016 ASWAQ Magazine | July 2016 25 Report Report

down 1.1 per cent from its January estimate of 3.1 per cent. Growth in the second largest Arab economy is predicted to pick up next year to reach 2.4 per cent. The low oil prices is expected to continue, together with tightening fiscal and monetary policies, and this is said by the bank to drag on activity across the GCC this year. The growth forecast in the GCC region is down from last year's 2.9 per cent, said to be the slowest pace since 2009. As for Saudi Arabia, the Arab world's largest economy, the growth was revised downward to 1.9 per cent from 2.4 per cent. The World Bank report is based on the assumption that the average oil price for 2016 is US$41 per barrel, down from US$51 per barrel outlook in January. The price is projected to rise to US$50 in 2017 and US$53 in 2018. Meanwhile, growth in the wider Middle East region is forecast to pick up slightly to 2.9 per cent in 2016, 1.1 per cent less than the expected January outlook. The downward revision is based on expectations that oil prices would be lower for the year, at an average of US$41 per barrel. The bank said that the main reason for the slight improvement in regional growth in 2016 is an expected strong recovery in Iran following the lifting of sanctions in January. An envisaged upturn in average oil prices in 2017 is projected to support a recovery in regional growth to 3.5 per cent in 2017. However, the risks in the Middle East were still high as the bank was reported as saying, "Risks to the growth outlook for the Middle East and North Africa are mainly to the downside. Three risks have been identified i.e. a further slide in oil prices, escalation of conflict, and further negative effects of security challenges and social unrest in countries not entrenched in war." The sluggish global growth is said by the World Bank Group President Jim Yong Kim to underscore why it is critically important for countries to pursue policies that The GCC’s dimmer outlook was predicted as the bank will boost economic growth and improve the lives of WORLD BANK CUTS GCC downgraded its global growth forecast to 2.4 per cent those living in extreme poverty. from the 2.9 per cent projected in January, on the back Among major emerging market economies, China is GROWTH FORECAST of "sluggish growth" in advanced economies. forecast to grow at 6.7 per cent in 2016 from 6.9 per The Washington-based bank warned, in its Global cent last year, while India's robust economic expansion Dubai – “ASWAQ” Economic Prospects report, that the global economy is expected to remain steady at 7.6 per cent. Brazil The World Bank reduces its 2016 growth forecast for the GCC nations recently is increasingly vulnerable to a sharp slowdown as the and Russia are however projected to remain in deeper to two per cent amid low oil prices and budgetary spending cutbacks. The crisis in emerging markets surge, and as advanced recessions than forecast in January, and South Africa is UAE is also said to be growing at a slower pace than predicted earlier. economies struggle to grow. forecast to grow at 0.6 per cent in the same period, 0.8 The UAE growth forecast is pegged at two per cent, per cent slower than the January forecast.

26 ASWAQ Magazine | July 2016 ASWAQ Magazine | July 2016 27 Directory Directory

UNIVERSITI TENAGA NASIONAL جامعات و معاهد UNIVERSITIES & INSTITUTES LANGUAGE SCHOOLS Inter-Cultural Language School (ICLS) Lot D6, Ground Floor, Block D, 55100 Kuala Lumpur Tel: 603 21442060 Web: www.icls.edu.my EMS Language Center بقاالت عربية ARABIC GROCERIES B-7-3 Unit 1-5 Megan Avenue 2, Block B, Jalan Yap Kwan Seng, 50450 Kuala Lumpur , +603 21811219 UNITEN, Campus, UNITEN, Sultan Haji Ahmad Shah Campus Tel: الشركة العربية / Suria Wholesaler

,www.ems.edu.my Jalan IKRAM-UNITEN, 43000 Kajang 26700 Web: السورية THE MAIN BRANCH: Selangor, Malaysia.DU002 (B) Pahang, Malaysia.KPT/JPS/DFT/US/C 01 English First Language Center No 380 & 382, Jalan Tuanku Tel: 603-8921 2020 Tel: 609-455 2020 Abdul Rahman, Lot S107 & S108 2nd Floor, Centerpoint, No3, Lebuh www.uniten.edu.my 50100 Kuala Lumpur Bandar Utama, Bandar Utama, 47800, Petaling Jaya Tel: +603 2692 1108 Tel: +603 7725 8828 Web: www.fb.com/english.first.ped Universiti Malaysia (UNIMAS) Multimedia University (MMU) GOMBAK BRANCH: ELS KL (KLCC) Persiaran Multimedia, 63100 Cyberjaya No. 701, Batu5, Jalan Gombak A-1-2, Wisma HB, Megan Avenue 2, Jalan Datuk Mohammad Musa, Tel: +603 8312 5000 53000 Kuala Lumpur 12 Jalan Yap Kwan Seng, 50450 Kuala Lumpur 94300 Kota Samarahan, Sarawak Web: www.mmu.edu.my Tel: +603 2166 5530 Tel: +608 2581 000 JOHOR BAHRU BRANCH: Web: www.els.edu.my Open University Malaysia (OUM) No.46 Jalan Padi Emas 4/1, Web: www.unimas.my The Language House Jalan Tun Ismail, 50480 Kuala Lumpur Bandar Baru Uda, 81200 Johor Bahru Universiti Malaysia Kelantan (UMK) Tel: +603 2773 2002 P-01-001, Podium, PJ CentreSTAGE, Karung Berkunci 36, Pengkalan Chepa, Web: www.oum.edu.my SHAH ALAM BRANCH: No 1, Jalan 13/1, Seksyen 13, 46100 Petaling Jaya Universiti Kuala Lumpur (UniKL) No. G-06, G-07,G-08 Avenue Crest No.2A Tel: +603 7932 1655 16100 Kota Bharu Jalan Jubli Perak 22/1 Seksyen 22, Web: www.languagehouse.edu.my Tel: +609 771 7000 1016, Jalan Sultan Ismail, 50250 Kuala Lumpur +603 2175 4000 www.umk.edu.my Tel: Shah Alam, Selangor SUBUL EDUCATION CONSULTANCY MALAYSIA Web: 46300 مطاعم عربية Web: www.unikl.edu.my ARABIC RESTAURANT SDN BHD SOUTH CITY PLAZA: Level 32, Menara Prestige No 1, Jalan Pinang, KBU International College G,12 Ground Floor, South City Plaza 50450 Kuala Lumpur, Malaysia. No 1, Persiaran Bukit Utama, Bandar Utama, ,Serdang Perdana, Seksyen1 مطعم صمد العراقي | Samad Al Iraqi مطعم القلعة | The Castle Restaurant Tel: +60 3 92079733 PRIVATE 47800, Petaling Jaya 43300 Seri Kembangan, Selangor Jalan Imbi Branch Unit G-3, G Floor, Menara Prestige, No. 1, Jalan Web: www.secmalaysia.com HELP University Tel: 603 7727 3200 Pinang, 50450 Kuala Lumpur Attayseer / BZ-2, Pusat Bandar Damansara, Web: www.kbu.edu.my التيسير No 12, Ground Floor, Plaza Berjaya, Tel: +603 2166 7766 Jalan Imbi, Kuala Lumpur No 52, Jalan Sulaiman 1, Taman Putra 50490 Kuala Lumpur مشافي +603 2094 2000 +603 21100340 Al-Amar Express, Fahrenheit 88 Sulaiman, 68000 Ampang Selangor NON-PRIVATE Tel: Tel: Tel: +603 4270 3244 Kampung Baru Branch Ground Floor, 179 Web: www.help.edu.my NILAI UNIVERSITY HOSPITALS بقالة البركة / No 3, Lorong Raja Uda 1, Kampung Baru, 50300 55100 Kuala Lumpur Berkat Madinah No 1, Persiaran Universiti, 71800 International Medical University (IMU) Kuala Lumpur Tel: +603 2141 3814 17-L1, Jalan Ampang Putra 6, Putra Nilai, Nilai, No 126, Jalan Jalil Perkasa 19, Bukit Jalil, KPJ Tawakkal Specialist Hospital Al-Andalus Restaurant | Taman Putra Sulaiman, Kuala Lumpur 57000 مطعم األندلس قصر حضرموت | Restoran Hadramawt Palace 68000 Ampang, Selangor Tel: +606 850 2338 251, Jalan Bukit Bintang, 55100, Kuala Lumpur 13, Jalan Delima, Off Jalan Bukit Bintang, Tel: +603 8656 7228 Tel: +6017 7050968 Web: www.nilai.edu.my Tel: +603 2143 3333 55100 Kuala Lumpur Web: www.imu.edu.my (Universiti Teknologi Malaysia (UTM البقالة / +603 2110 0373 Bukit Bintang Arabic Grocery Tel: MONASH University مطعم األندلس | Al-Andalus Restaurant العربية UTM Skudai, Johor Darul Takzim 81310 مطعم السالم | Al Salam Restaurant 13, Jalan Delima, Off Jalan Bukit Bintang, The Lost City Collection, Jalan Lagoon Selatan, Bandar Sunway, 46150 Tel: +607 553 3333 55100 Kuala Lumpur 52, Jalan Danau Niaga 1, Taman Danau Kota, Jalan Bulan Status, B.B Plaza, Selangor Tel: +603 2110 0373 55100 Kuala Lumpur Lot 9, Opposite Capital Hotel Web: www.utm.my Tel: +603 5514 6000 Tel: +603 4131 9099 www.monash.edu.my +6017 3973505 Web: Tel: مطعم الروشة | AlRawsha Marhaba Restaurant (Publika Branch) متجر ماينز /KL Branch Mynas Store No 90, Jalan Bukit Bintang, No8, Jalan Kampung Pandan, 55100 Kuala Lumpur D1-G4-1 Publika Solaris Dutamas, No. 1, Jalan No 1, Jalan Pahang Barat, 53000 Kuala Lumpur Dutamas, 50480 Kuala Lumpur INTI INTERNATIONAL Tel: +603 9200 6600 55100 Kuala Lumpur Tel: +603 4026 7777 Tel: +603 6207 8222\9222 i-City Branch Tel: +603 2141 1435 UNIVERSITY & COLLEGES Web: www.tawakal.kpjhealth.com.my Unit No. B5-13-G & B5-13-1, Jalan Multimedia 7/AH المتجر العربي / Pasar Mini Arab مطعم زمزم | Zam Zam Restaurant City Park, i-City, 40000 Shah Alam, Selangor Darul 3, Jalan SS 15/8, Ss 15, 47500 Oasis 9, Jalan Tengku Ampuan Zabedah 9/9F, Ehsan No 5, Second Floor, Wisma Robert Wong, Subang Jaya, Selangor, Malaysia KPJ Ipoh Specialist Hospital 40000 Shah Alam, Selangor Jalan Bukit Bintang, 55100 Kuala Lumpur Tel: +60 3-5623 2800 Tel: +603 5521 8577 No 26, Jalan Raja Dihilir, Tel: +6016 216 0661 Tel: +6017 2980380 Web: www.newinti.edu.my Ipoh, Perak 30350 مطعم بوابة سبأ | Saba’ Gate Restaurant In House Restaurant Raed Khaldoon & Partners Shoplot AG 11, Block A, Jalan Persiaran Surian, Palm Tel: +605 240 8777 رائد خلدون وشركاؤه A2-G1-05, Solaris Dutamas, Jalan Dutamas 1, Off Spring, Kota Damansara, 47810 Petaling Jaya Web: www.ish.kpjhealth.com.my Jalan Duta, 50480 Kuala Lumpur Block B,G-6, Jalan 5/3, Taman Serdang Tel: +603 7733 7900 Sunway Medical Centre Tel: +612 380 6509 Perdana, Seri Kembangan, Selangor , +603 8948 0831 No 5, Jalan Lagoon Selatan, Bandar Sunway Tel: مطعم الضيافة | Al Diafah مطعم الريان | Al-Rayan Restaurant No 43-1 & 45, Jalan Radin Anum, 46150 Petaling Jaya, Selangor 32-G, Lingkaran Cyber Point, Barat Domain Seri Petaling, 57000 Kuala Lumpur Tel: +603 7491 9191 Cyberjaya, 63000 Selangor Tel: +603 9059 6237 Web: www.sunway.com.my/sunmed/ Tel: +603 8322 0803

28 ASWAQ Magazine | July 2016 ASWAQ Magazine | July 2016 29 Directory Directory

وكالء السفر LEGOLAND MALAYSIA TRAVEL AGENTS PARKROYAL EDEN Tours & Travel Sdn Bhd 7, Jalan Legoland Bandar Medini, KUALA LUMPUR HOTEL Jalan Sultan Ismail, 50250 Kuala Lumpur Iskandar Malaysia 79250 Nusajaya, Johor 1st Floor, No 290, Jalan Pudu, Tel: +603 2148 0088 Tel: +607 597 8888 55100 Kuala Lumpur Web: www.parkroyalhotels.com Web: www.legoland.com.my Tel: +603 2148 3880 Felda Travel Sdn Bhd Ground Floor, Felda City, Jalan Maktab 6, Off Jalan Perumahan Gurney, 54000 Kuala Lumpur Tel: +603 2698 3833 Golden Tourworld Travel Sdn Bhd No 72, Wisma GTT, Changkat Bukit Bintang, 50200 Kuala Lumpur +603 2142 9537 Tel: مراكز ترفيه ENTERTAIMENT CENTRES Hello Holidays Sdn Bhd No 6-4, Jalan Metro Pudu, Fraser Business Park, Aquaria KLCC 55100 Kuala Lumpur Kuala Lumpur Convention Centre Tel: +603 9222 2228 Complex, Kuala Lumpur City Centre, Jetworld Holidays Sdn Bhd 50088 Kuala Lumpur Tel: +603 2333 1888 43-2, Jalan Telawi 3, Bangsar Baru, Web: www.aquariaklcc.com 59100 Kuala Lumpur Tel: +603 2283 4300 A’ Famosa Resort Lintas Flywell Travel Sdn Bhd Jalan Kemus, Simpang Empat, 78000 Alor Gajah, Melaka No 2-1, Jalan 1/76D, Desa Pandan, Tel: 06 552 0888 55100 Kuala Lumpur Web: www.afamosa.com Tel: +603 9207 4888 Bukit Gambang Resort City Mayflower Acme Tours sdn Bhd ,No-1, Jalan Metro Pudu1, Frasev Business Park مراكز تسوق ,Jalan Bukit Gambang Utama Bukit Gambang Resort City, SHOPPING MALLS off Jalan Yew, 55100 Kuala Lumpur Putrajaya Shangri-La The Chateau Spa & Organic Wellness Resorts 26300 , Pahang Tel: +603 9232 1888 Taman Putra Perdana Presint 1, KM 48, Persimpangan Bertingkat, Tel: +609 548 8000 Fahrenheit 88 Mall NARSCO Travel Services Sdn Bhd 62000 Wilayah Persekutuan, Putrajaya Lebuhraya Karak, 28750 Bukit Tinggi, Pahang Web: www.bgrc.com.my 168, Jalan Bukit Bintang, 55100 Kuala Lumpur 179, Jalan Bukit Bintang, Tel: +603 8887 8888 Tel: +609 2213 888 36, Jalan Mamanda 7, Ampang Point, Bukit Merah Laketown Resort Tel: +603 2118 8888 55100 Kuala Lumpur Web: www.shangri-la.com Web: www.thechateau.com.my Taman Dato Ahmad Razali KM7, Web: www.pavilion-kl.com Tel: +603 2148 5488 Jalan Bukit Merah, 34400 Semanggol, Perak 68000, Ampang Impiana Hotel KLCC Sheraton Imperial KL Web: www.fahrenheit88.com Tel: +603 8942 2163 Tel: +603 4257 5497/98 13, Jalan Pinang, 50450 Kuala Lumpur, Jalan Sultan Ismail, Web: www.bukitmerahresort.com.my Level 31, The Gardens South Tower, Tel: +603 2147 1111 50250 Kuala Lumpur Tropicana City Mall Client Travel Sdn Bhd Lost World Of Tambun Sunway City Ipoh , Lingkaran Syed Putra, Web: www.impiana.com Tel: +6032717 9020 No 3, Jalan SS20/27, Lot 2.22, 1st Floor, Wisma Central, No 1, Persiaran Lagun Sunway, 59200 Kuala Lumpur Palace Of The Golden Horses Web: www.sheraton.com/imperialkualalumpur Tel: +603 2938 3333 47400 Petaling Jaya, Selangor Jalan Ampang, 50450 Kuala Lumpur Sunway City Ipoh, 31150 Ipoh Perak Jalan Kuda Emas, , The ZON All Suites Residences Web: www.midvalley.com.my Tel: +603 7710 1818 Tel: +603 2161 1288 Tel: +605 542 8888 / 542 8899 43300, Seri Kembangan, Selangor 161-D, Jalan Ampang, Web: www.tropicanacitymall.com Web: www.sunwaylostworldoftambun.com Bangsar Village Tel: +603 8946 4888 50450 Kuala Lumpur The Mines Shopping Fair Melaka Wonderland Themepark & No 1, Jalan Telawi 1, Bangsar Baru, Web:palaceofthegoldenhorses.com.my Tel: +603 2164 8000 Resort 59100 Kuala Lumpur Jalan Dulang, Mines Resort City, Four Seasons Hotels & Resorts Web: www.zonhotel-kualalumpur.com فنادق +603 2288 1200 43300 Seri Kembangan, Selangor Tel: Lot PT 17 178, Lebuh Ayer Keroh, Hang Tuah Jalan Tanjung Rhu, 07000, Langkawi Le-Meridien KL Web: www.bangsarvillage.com Tel: +603 8942 2163 HOTELS Jaya, 75450 Ayer Keroh, Melaka Tel: +604 950 8888 No 2, Jalan Stesen Sentral, Kuala Lumpur Sentral, SUNWAY LAGOON Web: www.the-mines.com.my Tel: +606 231 3333 Bangsar Village II Web: www.fourseasons.com/langkawi 50470 Kuala Lumpur Web: www.melakawonderland.com.my DoubleTree by Hilton Hotel Jalan Telawi Three, Bangsar Baru, 59100 Kuala Copthorne Hotel Tel: +603 2263 7888 National Zoo (Zoo Negara) Lumpur 5 Jalan SS16/1, 47500 Subang Jaya Selangor The Intermark, 348, Jalan Tun Razak, Web: www.lemeridien.com Kea Farm, , Tel: +603 2288 1200 Tel: +603 5633 2530 50400 Kuala Lumpur Zoo Negara Hulu Kelang, 68000 Ampang 39100 Cameron Highlands, Pahang One World Hotel Web: www.hektargroup.com.my Tel: +603 2172 7272 Tel: +603 4108 3422 Publika solaris dutamas Tel: +605 496 1777 First Avenue, Bandar Utama City Centre, Web: www.doubletree3.hilton.com Web: www.zoonegara.org.my No 1, Jalan Dutamas 1, Solaris Dutamas, Sogo Kuala Lumpur Web: www.millenniumhotels.com/ 47800, Selangor, Malaysia Safari Bird Park & Wonderland 50480 Kuala Lumpur 190, Jalan Tuanku Abdul Rahman, Fahrenheit Suites copthornecameronhighlands Tel: +60 3 7681 1111 920, Jalan Cenderawasih, Taman Tasik Tel: +603 6207 9426 50100 Kuala Lumpur 5th Floor, Fahrenheit 88 Mall, 179 Jalan Bukit Hotel Maison Boutique Web: www.oneworldhotel.com.my Web: www.publika.com.my Tel: +603 2698 2111 Bintang, 55100 Kuala Lumpur Perdana, 50480 Kuala Lumpur No. 36 & 38, Jalan Baba, Off Changkat Thambi Boulevard Hotel Web: www.klsogo.com.my Tel: +603 8887 8828 Tel: +603 2272 1010 Dollah, 55100 Kuala Lumpur Lingkaran Syed Putra, Mid Valley City, Web: www.klbirdpark.com Web: www.fahrenheitsuites.com Publika solaris dutamas No 3, Jalan PJS 11/15, Bandar Sunway, Tel: +603 2145 2929 59200 Kuala Lumpur SUNWAY LAGOON 46150 Petaling Jaya, Selangor 1 Jalan Imbi, 55100 Kuala Lumpur Pullman Hotel & Residences Web: www.hotelmaison.com.my Tel: +603 2295 8000 Web: www.blvhotel.com 3, Jalan PJS 11/11, Bandar Sunway, Tel: +603 7494 3000 Tel: +603 2117 3081 No. 4, Jalan Conlay, 50450 Kuala Lumpur Fave Hotel, Langkawi Web: www.sunwaypyramid.com Web: www.timessquarekl.com 47500 Selangor Darul Ehsan, Tel: +6032170 8660 Lot 119, Pantai Tengah, Mukim Padang Mat Sirat, Hotel Sentral Seaview Penang Web: www.pullmanhotels.com Tel: +603 5639 0182 Suria KLCC Central Market 07000 Langkawi, No. 555, Jalan CM Hashim Tanjung Tokong, Web: www.sunwaylagoon.com Lot No 241, Level 2, Suria KLCC , Central Market Sdn Bhd, Jalan Hang Kasturi, 50050 Hotel InterContinental KL Tel: +604 955 6600 11200 Pulau Pinang 50088 Kuala Lumpur City Centre Kuala Lumpur No 165, Jalan Ampang, Web: www.favehotels.com Tel: +604 890 9300 Tel: +603 2382 2828 Tel: +603 2032 2399 50450 Kuala Lumpur Meritus Hotels & Resorts Web: www.hotelsentralseaviewpenang.com.my Web: www.suriaklcc.com.my Web: www.centralmarket.com.my Tel: +603 2161 1111 Pantai Cenang, 07000 Langkawi, Kedah Web: www.intercontinental.com Tel: +604 952 8888 Web: www.meritushotels.com 30 ASWAQ Magazine | July 2016 ASWAQ Magazine | July 2016 31