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Here in , we almost have the complete ecosystem to go on with this exploration in the aerospace industry. We want to ensure it is a win-win and is able to create more job opportunities for the people of Selangor. Selangor Menteri Besar

MB Promises New Water Tariffs Will Not Burden Consumers Page 3 State government is still discussing the new rates with the federal government.

World Bank: ’s GDP to Grow 4.6% Page 6

Developing Selangor’s Aerospace Industry Hulu Langat: A Glimpse of the Past Page 8 20 and 21 June 2019, Selangor Menteri Besar, Amirudin Shari, headed the Selangor delegation for a visit to Toulouse, France with the aim of paying a courtesy call to Airbus, a major aircraft Boon Siew Group in On Page 4 manufacturing company in the aerospace industry. Story continues on Mega Land Deal Page 12

Unemployment Rates Recovering Page 13 Financialization Approves Khoo Promotes Kay Kim Road Dangerous he state government renamed Speculation Page 15 Jalan Semangat in Petaling Jaya Tto Jalan Professor Khoo Kay Kim in remembrance of the late Emeritus Professor Tan Sri Dr Khoo Kay Kim. Story continues on Page 2 02 NEWS July 2019 | Selangor Journal

Malay Language on RM 750,000 for Environment, Green Technology All Official Selangor Signboards Small Grants

SHAH ALAM — The state government was initially implemented last year and has allocated RM 750,000 for green had received an overwhelming response. technology and environmental technol- Commenting further, Hee stated that ogy grants to 109 associations and orga- following the overwhelming response nizations from all over Selangor. last year, the Selangor government, un- EXCO of Environment, Green Tech- der the Environment and Green Tech- nology, Science, Technology and Inno- nology Committee, agreed to extend the SHAH ALAM — All road signs vation (STI) and Consumer Affairs, Hee grant to this year. in Selangor should use the Malay Loy Sian, said 55 of the associations He said the main objective was to language, Selangor Menteri Besar, received Small Environmental Grants raise public awareness and understand- Amirudin Shari, has announced. while 54 others received Small Green ing of the importance of safeguarding EXCO of Environment, Green Technology, In a statement on 4 July, Amiru- Technology Grants. the environment, and promoting the use Science, Technology and Innovation (STI) din said that the state government’s He noted the grants would finance of green technology. and Consumer Affairs, stand is in line with Article 152 of environmental conservation projects “The state government is always com- the Federal Constitution and the and the use of green technology. mitted to addressing environmental National Language Act 1963/1967, “Among the projects that can be im- He said this when speaking at the Se- problems such as global warming, air and is part of the decree of Duli Yang plemented are planting trees, waste re- langor Green Environment and Green pollution, water pollution, flash floods Maha Mulia (DYMM), the Sultan of cycling, environmental education, wa- Technology Grant Scholarship Ceremo- and the extinction of flora and fauna Selangor. ter conservation, energy conservation ny 2019 at the Sultan Salahuddin Abdul that are gaining public attention,” he “This [signage] issue received as well as education and community Aziz Building here on 8 July. said. the attention of DYMM Tuanku, awareness of climate change,” he said. Also present was Assistant Director “In addition, awareness of the im- who gave the advice that the state “Hopefully, the associations who re- of the Selangor Economic Planning Unit portance of green technology in the government is to uphold the Malay ceive this grant can make the most of it Local Authority Section, Marianie Abdul community needs technology to be en- Language and set it to be used in and implement programmes and proj- Rahman. hanced from time to time towards more the official Government signboards, ects that will have a high impact on so- The Selangor Green Environment and efficient, environmentally friendly and including local authorities,” he said. ciety and the environment,” he added. Green Technology Grant Programme renewable energy use.” “The government’s stand is in line with the commitment of Pa- katan Harapan (PAKATAN) which is committed to defending several Continued from page 1 core items of the constitution, such as the position of the Malay Rulers, I would like to inform the privilege of the Malays, Islam as that the DYMM the official religion of the Federation Selangor Menteri Besar, Amirudin and Bahasa Melayu as the national Shari, said the renaming of the road had Sultan of Selangor language,” he said. received the consent of Duli Yang Maha has given his consent In November 2018, Sultan Shara- Mulia (DYMM) Sultan of Selangor, Sul- fuddin Idris Shah decreed that all tan Sharafuddin Idris Shah. on renaming Jalan signboards in Shah Alam with Chi- “I would like to inform that the Semangat in Petaling nese script be removed and replaced DYMM Sultan of Selangor has given his Jaya to Jalan with signs in only one language, the consent on renaming Jalan Semangat in Malay language. Petaling Jaya to Jalan Professor Khoo Professor Khoo Kay involvement in drafting the Rukun Nega- The announcement was conveyed Kay Kim in remembrance of all services Kim in remembrance ra to restore harmony after 13 May, 1969. by his secretary, Datuk Mohamad and kindness of the late professor to the The late Professor Khoo was a schol- Munir Bani, through a letter ad- country,” he said in a statement. of all services and ar of history whose main works include dressed to State Secretary Datuk Jalan Semangat, located at Section kindness of the late The Western Malay States 1850-1873 Mohd Amin Ahmad Ahya and Shah 14 in Petaling Jaya, begins at the Sin professor to the and The Effects of Commercial Devel- Alam Mayor, Datuk Ahmad Zaharin Chew Media building and extends to opment on Malay Politics, which have Mohd. Saad. Jaya Shopping Centre. country. become canonical texts for the study of The signboard issue was again Professor Khoo, who passed away on Malaysian history. focused on after the installation of 28 May at the University Malaya Medical Amirudin Shari He was also actively involved in pro- signboards in Mandarin in Tanjung Centre (PPUM), was described as a na- Selangor Menteri Besar viding political views and issues relating Sepat, Kuala Langat. tionalist and a patriot, especially for his to nation-building and football.

ADVISOR Editorial Advisory Board, CCSB Re-examine all GROUP EDITOR Fathi Aris Omar that you have Editorial Team MANAGING EDITOR been told... Ameena Siddiqi dismiss that Aras 2, Carlton Holiday Hotel & Suite, WRITERS No 1, Persiaran Akuatik 13/43 Batrisyia Jay which insults Seksyen 13, 40100, Shah Alam, Selangor Muhaimin Merican your soul. Tel 03-5523 4856 DESIGNER Fax 03-5523 5856 Naqiuddin Muaz Walt Whitman Email [email protected] NEWS July 2019 | Selangor Journal 03

More Public Effort Needed to MB Promises New Water Tariffs Battle Dengue Will Not Burden Consumers

he public can no longer sole- SHAH ALAM — The state government ly rely on the insecticide will not announce a new tariff rate until sprayed by the Local Author- it is satisfied with the rate set by the Fed- ities (LTs) for the eradica- eral Government. tion of the dengue epidemic. Selangor Menteri Besar, Amirudin Dato’ Menteri Besar, Amirudin Shari, Shari, said that at this time the state Tsaid a recent study found that Aedes government is still discussing the new mosquitoes had evolved and were now rates with the federal government. able to spread dengue virus faster. “I cannot publicize it until we are sat- “It was possible before, when a cer- isfied. My promise is that this new rate tain number of mosquitoes were killed will not be agreed upon if it imposes a by spraying or fogging, but now it is no burden on users,” said Amirudin. longer possible. “However, we also do not want to told, if a mosquito carries the virus then bear the burden to the point where oth- all its descendants or eggs will also car- er development plans are interrupted,” It was possible ry the same virus,” he said. he said. as the rate has not risen since ten years before, when a He was speaking at a press confer- Amirudin said this when met at the ago; if it does not increase, this will dis- ence at the Selangor Tourism Refine- Invest Selangor Berhad Open House rupt the water management system,” he certain number of ment Programme (P3S) at the Mille- at the Shah Alam Convention Center said. nium Lake Garden, Kuala Kubu Bharu (SACC), here. Last April, the state government ex- mosquitoes were here today. Amirudin said his party and Air Selan- pected to announce the water tariff sta- killed by spraying or Amirudin said the public was advised gor had suggestions or formulas for con- tus after Aidilfitri as water tariffs have to take more precautionary measures sumers, especially the B40 group, who not been raised over the years. fogging, but now it is to ensure that no breeding grounds are not impressed with the increase. The water tariff in the state is current- were available for the mosquitoes, and Previously, Amirudin had not re- ly at RM 1.39 per cubic meter, a price no longer possible. to keep their homes clean. ceived proposals from the Ministry of that was set in 2006. He said the state government was Water, Land and Natural Resources to Water Minister, Land and Natural Re- also conducting studies on Aedes mos- raise state water tariffs up to 50 per cent sources, Dr Xavier Jayakumar, confirmed “There has been a recent develop- quitoes. of the existing rates. that six states agreed to raise water tar- ment. Previously, the spread of the “Fighting the dengue epidemic in- On this note, he wants the agreement iffs to ensure the quality of services and dengue epidemic was only through volves the conscious effort of all par- to be concluded soon to enable the state water supply to consumers. mosquitoes that carried the virus. This ties; for, as much as we are poisoning, if government to explain the raise to the Dr Xavier said talks on raising water means, not all mosquitoes carry the there is no [public] awareness, it is dif- people of Selangor. tariffs were ongoing because the rates dengue virus. But since last year, I was ficult to tackle the problem,” he added. “This increase involves many states had not been revised in 20 years. 04 FEATURE July 2019 | Selangor Journal

Developing Selangor’s Aerospace Industry

Continued from cover page... disassembly of aircraft in Selangor. Dis- cussions are expected to last for at least Amirudin was accompanied by EXCO eight months or more before a decision By of Investment, Industry and Trade of will be reached. Small and Medium Industries, Dato’ According to Amirudin, the state gov- Batrisyia Jay , Chief Executive Of- ernment is still in the process of iden- ficer of Invest Selangor Berhad, Dato’ tifying suitable locations near the air- Hasan Azhari Idris, as well as Chief Building the Aerospace Industry ports—specifically around Sepang and Executive Officer of Menteri Besar In- in Selangor Subang—for the pioneer project. “What corporated (MBI), Raja Shahreen Raja Amirudin Shari had stated that the state I can say is that in Selangor, we almost Othman. government is in the midst of discuss- have the complete ecosystem to go on ing with related parties—including with this pioneer project,” Amirudin Khazanah Nasional Bhd. and Malaysia stated. Airports Holdings Berhad (MAHB)—to discuss the necessity of creating an aero- space industry in the state and providing the space for it. On 2 July, Amirudin Shari said that the amount of land in Selangor is very This involves a lot limited and the requirements of inves- tors were quite high. of investment, so we “Some of their proposals are still be- want to ensure it is A leading manufacturer of aircraft, ing discussed and we will submit a new Airbus operates in more than 35 coun- proposal if they agree,” said Amirudin. a win-win situation tries including Germany and the United Commenting at the Invest Selangor and the ability to Kingdom, and is the main player in the Berhad Open House at the Shah Alam aerospace industry. With market cover- Convention Center (SACC), Amirudin operate well, as well age of 31 per cent in European countries noted that if agreement between the rel- as to create a high and 69 per cent in other countries, the evant parties is achieved, Malaysia will company has over 134,000 employees be the first country in South-East Asia [level of] investment from all over the world in a wide range to offer the services needed by the aero- of skills and expertise. space industry. and job opportunities Aside from producing commercial air- “This involves a lot of investment, so for the people of craft, the company also produces light we want to ensure it is a win-win situa- aircraft such as helicopters and mili- tion and the ability to operate well, as Selangor. tary aircraft. Currently, the company is well as to create a high [level of] invest- researching South-East Asian markets ment and job opportunities for the peo- Selangor Menteri Besar, such as Malaysia, Singapore, Thailand ple of Selangor.” Amirudin Shari and Indonesia for the H155 and H160 Previously, the state government was helicopter aircraft for Search and Rescue in talks with Europe’s leading aircraft (SAR) and transit operations involving carrier Airbus with the aim of explor- natural disasters. ing the opportunities for teardown and FEATURE July 2019 | Selangor Journal 05

An Engaging Visit Room to Explore During his visit, the Selangor Menteri Previously, the state government re- Besar had the opportunity to inspect the quested that all parties work together to Final Assembly Line of A350 aircraft, achieve the target of earning RM 175 bil- which showcases sophisticated technol- lion in the aerospace industry revenue ogy and machinery, as well as the expert by 2030. Amirudin noted that related manpower necessary for its operation. parties—such as higher education insti- In addition, the Selangor delegation tutions, training centres and private sec- also had the opportunity to visit Tarbes’s tors—should join in assisting the state aircraft teardown facility which carries government in achieving said target. out the recycling of aircraft parts and At the same time, Amirudin added that components, as well as providing main- there is still more room to explore the tenance, repair and restoration, as well Airbus BizLab has aerospace industry in Selangor. as warehousing and logistics services. brought to fruition 72 Selangor is in the midst of targeting The visit also included the Airbus aerospace commercial the setup of three aerospace hubs with BizLab centre, which is a research fa- start-ups besides the aim of attracting foreign direct in- cility set up to assist start-up compa- 54 internal Airbus vestment (FDI). During the tabling of nies that have equipment prototypes projects. the Selangor 2019 Budget last year, and technologies that could be devel- Amirudin had announced the Aeropolis oped to improve the company’s operat- and Aerospace Industry cluster as being ing activities, especially with regard to among the major focuses of the state. the production and assembly of aircraft. Among the locations considered are Airbus BizLab acts as a platform to the Kuala Lumpur International Airport help transform innovative entrepre- (KLIA) in Sepang, and the Sultan Abdul neurship ideas in the aerospace in- Aziz Shah Airport in Subang. dustry into valuable business oppor- Airbus BizLab acts tunities. Ever since its launch in 2015, as a platform to help Airbus BizLab has lent a helping hand Sultan Abdul Aziz Shah to 72 entrepreneurship projects and 54 transform innovative Airport in Subang Airbus projects through a specially de- signed programme. entrepreneurship The programme, ideas in the aerospace which typically lasts for six months, gathers industry into valuable selected entrepreneurs who will then be given business opportunities. the opportunity to col- Ever since its launch laborate with Airbus’s top experts and train- in 2015, Airbus BizLab ers. During the process, has lent a helping hand these entrepreneurs will receive access to Airbus’s to 72 entrepreneurship latest fundraising, tech- nologies, Airbus partners projects and 54 Airbus and more in order for projects through a their innovative ideas to succeed. The programme specially designed is held in four locations: Toulouse (France), Ham- programme. burg (Germany), Banga- lore (India) and Madrid (Spain). Kuala Lumpur International What is more unique Airport (KLIA) in Sepang, is that these BizLab projects are not limited to only aerospace. Ever since being launched four years ago, BizLab has effectively imple- mented Artificial Intelli- gence (AI) projects, Data Analytics, Blockchain technology, Cyber​​ Amirudin Shari Security, Unmanned Aerial Vehicles and heads the Selangor more. Delegation on their Following the visit, Amirudin noted visit to Toulouse, that Airbus BizLab is a global aerospace France industry driver, allowing new ideas by entrepreneurs to be realized as profit- able businesses. “Since 2015, it has driv- en start-up companies worth 19.5 mil- Airbus A330-300 lion Euros,” said Amirudin. Over the last series costing USD four years, Airbus BizLab has brought to 253,000,000 being fruition 72 aerospace commercial start- dismantled. ups besides 54 internal Airbus projects. 06 ECONOMY July 2019 | Selangor Journal

Tabung Haji Opex Down MIDF Research: Foreign Funds Bought 22% In 1Q19 RM 171.7 m Local Equities

KUALA LUMPUR — Ac- commendable return as they Taiwan which experienced for- KUALA LUMPUR — According to Minister in the Prime cording to MIDF Amanah bought RM 73.1 million net of eign net outflows exceeding Minister’s Department, Datuk Seri , Investment Bank Bhd. Re- local equities despite comments RM 40 million.” Lembaga Tabung Haji recorded a 22.14 per cent year-on- search, foreign funds acquired by the Federal Reserve Bank of Adam noted that for the month year decrease in operational expenses in the first quarter RM 171.7 million net of local St. Louis, which downplayed of June 2019, foreign investors ended 31 March 2019 (1Q19) to RM 204 million from equities last week on Bursa Ma- the need for aggressive US have acquired RM 134.6 million RM 262 million. laysia, up from RM 28.3 million monetary easing. net, the first foreign net inflow in This is the outcome of steps taken to decrease spending the prior week. He noted that the level of for- five months. by the pilgrim fund, which include renegotiation of con- In his weekly fund flow re- eign net buying tapered slightly “On a half-yearly basis, the tracts, introduction of centralised procurement system, as port, MIDF Research’s Adam M. to RM 53.8 million. foreign net outflow from Ma- well as refinancing key projects to reduce finance cost, the Rahim said this was six times Adam said the dampened laysia stands at RM 4.66 bil- minister told the on 1 July. more than the amount bought sentiment came from the news lion, which is lower than the “We renegotiated old contracts, especially on the supply in the week before. that substantial additional tar- RM 6.8 billion foreign net out- of IT infrastructure, where we saved RM 9.3 million per “The first two days of the iffs would be placed on goods flow seen during the same peri- year,” said Mujahid. week saw international funds on China by the US if no prog- od last year,” stated Adam. “We also reduced operational spending and procurement selling equity on Bursa but ress is made on a trade deal “While foreign investors by the headquarters and branches nationwide by introduc- at a moderate level below when both sides meet at the continued entering Bursa, for- ing centralised procurement that allowed us to save RM 2 RM 25 million net,” said Adam. G20 meeting. eign investors emerged as the million per year,” he added. “Risk aversion was stoked by “Bursa saw the highest for- investor group with the largest Other efforts include cutting spending on events by Iran’s comments that there is eign net inflow during the week decline in terms of average dai- RM 1.5 million per year, and cutting interest charges on no more room for a diplomatic of RM 83.7 million ahead of the ly traded value (ADTV) of 28.6 some key projects to 1.9 per cent from 3.7 per cent, as well solution with the US following highly anticipated US—China per cent to RM 1.03 billion.” as cancelling non-beneficial initiatives or those with low the imposition of new sanc- presidential meeting,” he said. Nevertheless, he said level of potential, such as investment in ATM machines. tions,” he added. “This was in contrast to participation in three weeks is Mujahid was responding to a question by Datuk Seri An- According to Adam, in- other regional peers, namely still deemed positive and healthy war Ibrahim (PH—Port Dickson) on the operational savings ternational investors made a Thailand, the Philippines and as it exceeds RM 1 billion. achieved by Tabung Haji so far.

below the threshold level of USD World Bank: Malaysia’s 12,375 that the World Bank cur- rently sets to define high income GDP to Grow 4.6% country status,” he stated. He added that Malay- sia could exceed the defined threshold at some point be- tween 2021 and 2024. “As Malaysia’s economy con- verges with the high income economies, it is important to be attentive to the broader aspects RM 45 bil for of development and societal Development Projects well-being such as health, ed- ucation and the distribution of wealth, that are not adequate- ly captured by advances in per PUTRAJAYA — The government will spend about capita income terms,” he added. RM 45 billion in 2019 on more than 4,000 development PUTRAJAYA — According Malaysia Plan 2021-2025 Kick- According to the twentieth projects to spur the Malaysian economy, which has been to the World Bank, Malaysia’s off Conference. edition of World Bank’s Malay- affected by external vulnerabilities. economy is expected to expand “Relatively high levels of pri- sia Economic Monitor (MEM), According to Economic Affairs Minister Datuk Seri Mo- at a relatively moderate rate, vate and public debt also pose launched on 1 July, policies hamed Azmin Ali, the reimbursements of the multi-bil- with the gross domestic prod- risks to growth,” he added. should focus on boosting resil- lion-ringgit development expenditure would flow into the fol- uct (GDP) projected to record Record noted that while pri- ience and protecting the vul- lowing years and ensure sustained domestic economic growth. 4.6 per cent in 2019. vate consumption is expected nerable in the short term. “Together with the resumption of several large-scale Lead economist in macroeco- to continue to support domestic The report stated that it was projects, these measures will be our growth drivers for this nomics, trade and investment, demand, its growth is project- particularly important to re- year and the next,” Azmin said during the launch of the Richard Record, said the GDP ed to decelerate to 6.6 per cent build fiscal policy buffers, facili- World Bank’s latest Malaysia Economic Monitor and the was 0.1 percentage points low- this year. tate private investment and en- Kick-Off conference of the Twelfth Malaysia Plan. er than in the previous forecast, This follows a robust expan- sure adequate social protection “As we continue to work towards the enhancement of reflecting weaker than expect- sion in 2018, especially during for low income and vulnerable foreign direct investments, there should be simultaneous ed investment and export activ- the zero-rated GST period. households. efforts to boost domestic investment as well,” he added. ity observed in the first quarter “In the public sector, the “A widening of the govern- Azmin spoke via a video recording as he was attending (Q1) 2019. continued rationalization of ment’s revenue base should the sixth OPEC and non-OPEC ministerial meeting in Vienna. In April, the World Bank had government expenditure will also be accompanied by ef- He pointed out that the government also focuses on mea- maintained its forecast on the continue to weigh on its con- forts to expand and improve sures to reduce regulatory burden in line with its aim to GDP at 4.7 per cent. tribution, with the growth rate the social protection system to improve ease of doing business and noted that “there is still “Potential risks to growth projected to stand at 1.8 per achieve greater overall progres- more work to be done”. include those related to esca- cent for the year,” Record said. sivity,” the report stated. “Among the steps being undertaken is the removal of lating trade tensions, a sharp- Meanwhile, Malaysia remains “The government’s planned non-tariff measures (NTM),” said Azmin. er than expected slowdown in on track to achieve high-income move to a more targeted fuel “As of 2018, the government has reviewed 668 NTMs major economies, as well as economy status by 2024. subsidy framework could lead under six ministries that had a total estimated compliance volatility in the financial and “Malaysia’s gross national in- to potential savings for rein- cost of RM 2.96 billion, with a potential cost saving of commodity markets,” he told a come (GNI) per capita stood at vestment in core social welfare RM 739 million,” he stated. press conference on the Twelfth USD 10,460 in 2018, USD 1,915 programmes.” WOMEN July 2019 | Selangor Journal 07

Get to Know the Most Education Influential Woman in Obtained a Diploma in Business Studies from Islamic Business and the Mara Institute of Technology, Malaysia in Finance 1978, obtained a Bachelor of Science degree from Northern Illinois University, USA in 1979 Noripah binti Kamso and a Master’s in Business Administration from 62 Years Old Marshall University, USA in 1980.

Working Background Previously occupied the position of Chief Executive Officer at CIMB-Principal Is- lamic Asset Management Sdn. Bhd., was President of the Malaysian Futures Bro- kers Association, and former Director of CIMB-Principal Asset Management Bhd. and Chief Executive Officer for CIMB Futures Sdn. Bhd. Currently, Datuk Noripah is Chairman of the Islamic Finance Council at the Ma- laysia-US Chamber of Commerce, a member of the Securities Industry Dispute Resolution Centre, and is on the board of five other companies.

Selangor Journal sheds light on Datuk Noripah’s background before her appointment as Bank Rakyat Chairman. Here’s a look at Datuk Noripah’s journey prior to being named “Most Influential Woman in Islamic Business and Finance”: Datuk Noripah Kamso A Global Icon in

Islamic Finance 1980 - 1986 By assessed based on professional leadership, advo- Batrisyia Jay cacy and industry-wide recognition. The 62-year-old was ranked first among the top 300 international recipients from 16 other countries n 17 June 2019, who are leading change, breaking barriers and Bank Kerjasama creating new possibilities in the world of Islamic Rakyat Malay- finance globally. sia Bhd’s (Bank “In compiling the list, Cambridge IFA can- Rakyat) chairman vassed a wide range of market opinions and con- Datuk Noripah Kamso was ducted extensive data mining exercises before awarded “The Most Influential drawing up a definitive list of the 300 most influ- O Datuk Noripah Kamso began From 1993 to 2014, Datuk Woman in Islamic Business and ential women in Islamic finance, assessing their Finance” title at the WOMANi influence and leadership over their company and her career as the Develop- Noripah joined CIMB group Awards 2019 in Dubai. market sector, as well as career and performance ment Officer at the Project where she held various key A press statement from Bank to date,” the statement said. Division of the Urban Devel- positions. Rakyat stated that Noripah was opment Authority (UDA) from 1980 to 1983 and joined Bank From 1996 to 2012, she was of Commerce (M) Berhad as the Chief Executive Officer of Senior Corporate Banker from CIMB Futures Sdn. Bhd. 1983 to 1986. From 2005 to 2013, Datuk Noripah was the Chief Execu- tive Officer of CIMB Principal Asset Management Berhad.

From 2008 to 2012, she was the founding Chief Execu- tive Officer of CIMB Principal Islamic Asset Management BANK Kerjasama Rakyat Malaysia 1993 - 2014 Sdn. Bhd. Since 2008, Datuk Bhd’s (Bank Rakyat) chairman Noripah has successfully es- Datuk Noripah Kamso received tablished a global platform The 62-year-old was “The Most Influential Woman in for the firm to extend its reach ranked first among the Islamic Business and Finance” title to UK, Europe, GCC, Asia, USA top 300 international on June 17, at the WOMANi Awards and Australia. 2019 in Dubai. recipients from 16 From 2013 to 2014, Datuk other countries who Noripah was Advisor of CIMB are leading change, Furthermore, on top of her leadership perso- Islamic. Formerly, she was breaking barriers na, the award also recognised Noripah’s pioneer- also President of the Malay- ing work along with the Malaysia International On December 2018, the En- sian Futures Brokers Asso- and creating new Islamic Financial Centre of Bank Negara Malay- trepreneur Development ciation (MFBA). Previously, possibilities in the sia to place the nation on the world map as a Ministry announced the ap- Datuk Noripah was a Global world of Islamic global Islamic finance hub. The assessment had pointment of Datuk Noripah Practitioner in Residence with finance globally. also taken into consideration Noripah’s aptitude as the new Chairman of Bank the Principal Financial Group to reinvent herself by connecting practitioners Rakyat, taking over from Tan Centre for Global Citizenship, with the academic arena internationally. Sri Shukry Mohd Salleh. 2018 USA. 08 FEATURE July 2019 | Selangor Journal

the first two major mining town in the district. Hulu Langat and its community saw one of the worst fates during the com- munist insurgency of Malaya in the 1940s and 1950s. Towns such as Ka- jang, Bangi, and Balakong were severely affected by the communist movement with Semenyih being the worst hit with villages and plantations were set on fire as a sign of resistance to the British rule at the time. The repercussions of the communist insurgency resulted in the British forces relocating the densely populated villag- es and towns in the Hulu Langat district into the newly-created villages away from the communist hotspots. The Malayan Emergency ended in 1960 and life resumed in the Hulu Lan- gat district albeit it would never be the same due to the heavy casualties and re- structuring it had faced in the 12 years during the Emergency period.

By Towns such as , Bangi, and Muhaimin Merican Balakong were severely affected by the communist movement. Hulu Langat: A Glimpse of the Past

f you look at the southeastern region of Selangor, you will notice a significantly large area known as the Hulu In 1868, the then-Sultan of Langat district. The Hulu Langat district features some Selangor, Sultan Abdul Samad, invited a Chinese tycoon, Chin Ah Iof the busiest towns in Selangor such as Cheras, Semenyih, Chan, to open tin mines in Bukit Kajang and Bandar Baru Bangi. Arang and this was the first two major mining town in the district.

The district is made up of seven Hulu Langat mukim or subdistricts. The mukim, ac- Selangor cording to the 1965 National Land Code are Ampang, Beranang, Cheras, Ulu Langat, Ulu Semenyih, Semenyih, and The district is made up of seven Kajang. mukim or subdistricts. The mukim, Measuring 840 sq kilometres in size according to the 1965 National and with a population of 1,141,880, Land Code are Ampang, Beranang, Hulu Langat is the fifth largest district Cheras, Ulu Langat, Ulu Semenyih, in the state. It has a blend of urban and Semenyih, and Kajang. country residences with a more signif- icant part of the populace settling in Measuring 840 sq kilometres towns close to Kuala Lumpur. The dis- in size and with a population of trict’s local governance is split into two 1,141,880, Hulu Langat is the fifth and managed by the Ampang Jaya Mu- largest district in the state. nicipal Council, as well as the Kajang Municipal Council. According to J.M. Gullick, based on By the 1980s, Kajang expanded ex- Rich History 19th century sources, the Orang Asli of tensively as more of the population According to an old folks’ tale, Hulu the Sakai tribe had long settled the Lan- moved there because of the expensive Langat is named after an insect known gat valley but Malay influence was evi- housing costs and shortage of residen- as ‘Langat’ that was said to infest the dent as they are recorded to have been tial area in Kuala Lumpur and Petaling- district before it was opened as villages fluent speakers of Malay. Hulu Langat Jaya. Housing demand rose in the 1990s and towns in the area. Alternatively, the was then a village at the top end of the and this was when property developers name may come from the name of a fish, valley. Early residents of Hulu Langat came to Kajang, buying up old rubber Selangat, which lives both in saltwater were small pockets of Javan and Su- plantations and converting them into and freshwater. matrans living in settlements along the residential areas. Hulu means deep within or upstream Langat River. Today, Hulu Langat district is home to and based on the location of the region In 1855, the small town of Rekoh more than 1 million people. The Hulu in the heart of Selangor, it became pop- was known for the tin mining activities Langat district is also home to multiple ular as Hulu Langat. in the area. In 1868, the then-Sultan of urban and developing settlements that Originally a part of Negeri Sembilan, Selangor, Sultan Abdul Samad, invited a have brought economic value as well as the Hulu Langat district was traded for Chinese tycoon, Chin Ah Chan, to open population growth into the district. the Lukut District in 1880. tin mines in Bukit Arang and this was FEATURE July 2019 | Selangor Journal 09

The District and its Economic The Growth of Hulu Langat Activities From a small village by a river in the According to Majlis Perbandaran Kajang, 19th century, and a high-risk area in 2015, the Kajang sub-district itself during the Malayan emergency in the made a total of RM 93.4 million. More- ‘60s, Hulu Langat has grown tremen- over, the district has allocated almost dously. It has been able to recover from 3000 hectares of land for the industrial one of the darkest periods in Malay- needs of the district. In addition, the dis- sian history to become one of the most trict also allocates over 500 hectares for densely populated districts in Selangor. business and services in the area. However, since it neighbours the dense- The Municipal Council also declared a ly-populated areas of Kuala Lumpur and total of almost 280,000 units of holdings Petaling Jaya, Hulu Langat is predicted it had from the sub-districts under its to experience favourable growth both administration. The holdings were parts economically as well as population-wise of enterprises, businesses and homes as Kajang as Malaysia heads into the next decade. well as select properties. Semenyih

High-risk area during the Malayan emergency in the ‘60s The Municipal Council also declared a total of almost 280,000 units of holdings it had from the sub-districts under its administration. The holdings were parts of enterprises, businesses and homes as well as select properties.

The district features various types of economic activities that help boost the district’s economy. The district features multiple industrial areas that house factories and warehouses that produce materials and products that are sent Bangi Wonderland Theme Park throughout the nation.

The most popular agricultural product hailing from the district is its distinctive lemongrass. Cheras

The district is also famous for its agri- cultural farming. The farming industry in the district can be found in mukim such as Beranang, where the development Ampang have not disrupted the peace of nature. The most popular agricultural product hailing from the district is it’s distinc- tive lemongrass or known as serai in Bahasa Malaysia. Formerly growing rice here, farmers have shifted to lemongrass due to the drainage system in the area. Their daily yields, which reach up to five tonnes, are snapped up by wholesale markets, factories and restaurants in the Klang Valley, as well as in Negeri Sembi- lan, Melaka and even as far as . 10 NEWS July 2019 | Selangor Journal

SELANGOR QUICK TAKES

SELANGOR JOURNAL

PKNS Staffers and Children Recognized 7 Firemen Hurt While MB Worried About Younger Drug Users For Academic Success Putting Out Fire at Factories Selangor Mentri Besar, Amirudin Shari, says he is worried that younger people are becoming entrapped in drug abuse. He said there Selangor State Development had even been cases of primary schoolchildren taking drugs. Corporation (PKNS) chief executive “We came to know of this about two years ago,” Amirudin told officer, Datuk Mohd Azizi Mohd Zain, reporters after launching the “Kempen Sayangi Generasiku” organized gave out certificates of academic by the Drug Prevention Association of Malaysia (Pemadam) at SMK success and prize money to staffers Kuala Selangor. and 97 children of staffers at a He added that apart from recurring cases, there were also new drug ceremony held at Wisma PKNS. addiction cases involving children aged between 12 and 15. They included primary and Amirudin said children involved in drug abuse may turn to crime later on. secondary school students who aced major exams, 15 diploma- holders, 19 degree-holders, a student who completed the hafazan (memorization) of 30 juz’ of the Qur’an, 13 PKNS staffers who had Selangor Kickstarts No earned a Bachelor’s degree and eight Plastic Straw Campaign who obtained a Master’s degree.

The Selangor government has Seven Fire and Rescue Department kicked off its Plastic Straw Free Selangor Still personnel were hurt as they battled (#BebasStrawPlastik) campaign on 1 a fire that engulfed three factories at July but strict enforcement will only KDEBWM Donates Bins Negotiating With the Pulau Indah industrial zone on 5 be made by 2025. Under CSR programme Putrajaya on New July. Selangor Environment, Green Water Tariff Selangor Fire and Rescue Technology, Science and Consumer KDEB Waste Management Department chief Norazam Khamis Affairs Committee chairman, Hee Loy (KDEBWM) continues to carry out The Selangor government is still said two personnel received inpatient Sian, urged consumers and eateries its corporate social responsibility by in the midst of negotiating with the treatment at the Tengku Ampuan to use the six-year grace period to donating waste bins to eight locations federal government about the new Rahimah Hospital, while five others adjust to the new policy. in Subang Jaya and Klang. water tariff in the state so that it will received outpatient treatment. Hee explained that no fines will KDEBWM ’s Head of Public not burden the lower income group. One fireman fell and hurt himself be issued during this grace period, Relations and Media, Mahfuzah Menteri Besar, Amirudin Shari, said while moving the fire hose. Another as the campaign is meant to create Muhammad Tarmidi, said the the negotiations are taking slightly fireman from the Sungai Pinang Fire awareness among the people on contribution of the waste bins is not longer because the state government and Rescue Station, Mohd Faizzuan the importance of preserving and only to replace the damaged bins wants the new rates not to burden Ayob, suffered injuries to his leg, protecting the environment. Adding but also to help the domestic waste either the people or the government. while another from the Klang Fire that the policy was not to meant to disposal by residents in the area to He added that it was necessary to and Rescue Department, Muhammad burden the people, Hee said he hopes become cleaner and more organized. revise the state water tariff as the Ridzuan Kamaruzaman, suffered that Selangor folk will cooperate. A total of 17 new leach bins and 12 current rate would burden the state burns to his ears, besides inhaling The aim is to cut down on single- recycling bins were donated. government’s finances. poisonous gas. use plastics. NEWS July 2019 | Selangor Journal 11

NATIONAL NEWS QUICK TAKES

SELANGOR JOURNAL

11 Students, Pupils Fall Ill in Pasir Gudang

Eleven students and pupils at four schools in Pasir Gudang were reported to have suffered headaches, nausea and vomiting. They were from SK Kota Masai 2, SMK Taman Nusa Damai, SMK Tanjung Puteri Resort and SMK Pasir Putih, which before this were affected by the same symptoms. Over 120,000 Illegals Register for Regularization State Health, Culture and Heritage Programme In Sabah Committee chairman Mohd Khuzzan Abu Bakar (pic) said that those The regularization programme for illegal workers in Sabah, which ended affected were sent to the schools’ sick on 30 June, saw the registration of over 3,100 employers and 123,575 bays to rest. workers. Of the total registered workers, 95,226 were Indonesians (54,900 were registered as foreign workers and 40,326 as dependants) while 28,349 were Filipinos with 17,235 being foreign workers and 11,114 dependants. The regularization programme allows employers to legalize their Indonesian and Filipino workers working illegally within the plantation and agriculture sectors. IGP: Negotiations Sabah Immigration Department director Datuk Musa Sulaiman said the Victims of Melaka Ongoing to Bring Back next step would be for the registered employers to hand over the passports of Floods Increase to 745 Jho Low their foreign workers and their dependants to the Immigration Department for security screening by 30 September. The number of flood victims in Negotiations are ongoing with the Melaka has risen to 745 people from country currently harbouring fugitive 150 families as of the afternoon of 7 financier Low Taek Jho, better known July, compared to 141 people from as Jho Low, says Inspector-General to be the First 18 families earlier. of Police Datuk Seri Abdul Hamid Bill to Lower Voting Malaysia Civil Defence Force Bador. Age Tabled for First State to Introduce High- (MCDF) Melaka director Lt Col “We have to tread carefully as it Reading Speed Internet in Rural (PA) Effendy Ali said six temporary requires a delicate touch so that we Areas evacuation centres (PPS) were do not make any errors. A Bill to amend the Federal opened. “This is also to ensure that the Constitution to lower the voting age authorities do not feel like police has been tabled for its first reading. here will pressure Low,” Abdul Hamid The Constitution (Amendment) 2019 said. Bill seeks to amend clause 1 of Article He added that the authorities in 119 of the Federal Constitution to All-Malaysian ESL the country in which he is hiding lower the age of a Malaysian who is Finals at Australasian understand the need to bring Low entitled to vote from 21 to 18 years Debating Championship back to face the law. of age. Perak will be the first state to He also said there was no particular “With this amendment, more introduce the National Fiberization It was Malaysia versus Malaysia time frame for this. Low is allegedly Malaysian citizens would be entitled and Connectivity Plan (NFCP), says at the 2019 Australasian Intervarsity linked to the 1Malaysia Development to vote and elect a government state exco Hasnul Zulkarnain Abd Debating Championship ESL (English Berhad (1MDB) scandal. through an election, which is in Munaim. as Second Language) finals. line with a progressive democratic The state chairman for the Emerging as the ESL category system,” read the Bill. Communication, Multimedia, Non- winners were the team from the The Bill was tabled by Youth and Governmental Organization and International Islamic University Sports Minister, Syed Saddiq Syed Cooperative Development committee Malaysia (IIUM), who faced off Abdul Rahman. The amendment said the Perak government had against opponents University Malaya requires a two-thirds majority or received the proposal from Tenaga at the finals in Bali, Indonesia. 148 votes in the 222-seat legislature. Nasional Bhd (TNB) and would take The Australasian Intervarsity has 139 MPs while at least two weeks to finalize the next Debating Championship is the the has 77. course of action. second largest debating tournament Opposition leader Datuk Seri NFCP is a government project that in the world. A total of 70 teams Ismail Sabri Yaakob said that combines the use of fibre optics and from Australia, New Zealand and Opposition MPs would not support wireless connectivity to provide high- Asia participated in this year’s the Bill if it did not allow for speed Internet for people in rural championship. automatic registration of voters. areas. 12 PROPERTY July 2019 | Selangor Journal

of land alienated to CZC. The Boon Siew Group in Mega Land Deal total amount of land to fund Investor the project is 110 acres in the Sentiment for PETALING JAYA — The Pen- infrastructure project, which it funding and political issues. reclaimed areas of Tanjong ang Mega infrastructure project was first awarded by the state The undersea tunnel, which Tokong and off Gurney Drive. Battersea Project is set to kick off in September government in 2012. will be a toll road, is set be- The reclaimed areas are now Still Strong this year following the certainty CZC awarded the first of the tween Butterworth and Gurney known as Seri Tanjong Pinang of funding after being awarded three highway infrastructure Drive on Penang island, while while the biggest developer there to Consortium Zenith Construc- packages—a 5.7 km highway the three roads—including is Eastern and Oriental Bhd. KUALA LUMPUR — Despite tion Sdn. Bhd. (CZC). from Ayer Itam to Lebuhra- the stretch between Ayer Itam In January 2016, Ewein Ze- Brexit woes, investor sentiment According to sources, the pri- ya Dr Lim Chong Eu—to a re- — are toll-free and meant to nith Sdn. Bhd., a subsidiary of remains strong for the Malay- vately-held diversified group, lated company, Vertice Bhd., disperse the traffic on the island. Ewein Bhd., had been given the sian-backed Battersea Power Boon Siew Sdn. Bhd., which was in September last year for Political issues came about as right to purchase a portion of Station (BPS) redevelopment founded by the late Penang ty- RM 815 million. Penang was previously ruled by this land. project. In fact, the BPS proj- coon, Tan Sri Loh Boon Siew, has Works on the first highway an opposition party. Since the Previously, Ewein Zenith had ect residential sales reached acquired 22.92 acres of land from project will begin on 1 September state government is part of the been granted the right to pur- GBP 120 million (RM 634 mil- CZC at RM 845 per sq ft. amount- with a ground-breaking ceremo- coalition that won the mandate to chase three parcels in Bandar lion) with a combined gross de- ing to RM 843.64 million. ny scheduled for end of August. run the federal government, the Tanjung Pinang for RM 2.83 bil- velopment value of GBP 9 bil- “The land that the Boon Siew Vertice has a 13.21 per cent issue of political uncertainty over lion following a memorandum lion (RM 47.1 billion) for eight is buying is near the Gurney stake in CZC while the ma- the project has been resolved. of agreementwith Consortium phases. Drive area,” a source revealed. jor shareholder of CZC, Datuk Previously, issues regarding Zenith BUCG Sdn. Bhd, with Battersea Power Station De- A valuation report stated Zarul Ahmad Mohd Zulkifli, funding of the project arose be- the . The price valued the land velopment Co Chief Financial that the land near the Gurney has a 9 per cent stake in Ver- cause the Penang state govern- at about RM 1,300 per sq. Officer Benn Zemek noted that Drive reclaimed area is close to tice. To undertake the highway ment was paying CZC primarily ft. However, as Ewein Zenith investors still want to make RM 1,000 per sq ft. infrastructure project, Vertice through reclaimed land, with could not raise funding to buy long-term decisions for the CZC’s divestment of the land has formed a joint venture some money to come from toll the land, it has since waived project given the strength of to Boon Siew group marks its with Vizione Holdings Bhd. in collection. CZC is to divest the the rights apart from two plots London’s long-term foundation. first major step to monetize the February this year. land and use the funds to un- within that land. “What we can’t control is the land to fund the infrastructure The second phase of the dertake the project. The third phase of the Pen- macro environment, but what projects. project is a 10.53 km highway, Of the RM 6.34 billion for ang mega infrastructure project we can control is the micro con- “The Boon Siew group is a the North Coastal Paired Road the entire project, RM 305 mil- is a 4.08 km Gurney Drive—Tun dition. As we get closer to the big name on the island and has connecting Tanjong Bungah lion is for the feasibility study Dr Lim Chong Eu Expressway completion date, you only see a big balance sheet. Its entry to and Teluk Bahang. It will com- and detailed design of the en- bypass, while the final compo- real estate prices outperform- buy the land will give the land mence in September next year tire project. The remaining nent is the undersea tunnel. ing on this site,” said Zemek. swap-funded infrastructure and Vertice is expected to land RM 6 billion is for the construc- The main contractor for the un- “For those people who are projects some credibility and this project as well. tion of the three highways and dersea tunnel is China Railway looking past the macro condi- certainty in terms of financing,” Previously, the entire project, an undersea tunnel. Construction Co. tions, no matter what happens said a source. which consists of a 7.2 km under- Toll collection from the un- Work on this third phase regarding Brexit, London will The transaction allows sea tunnel and three highways on dersea tunnel is expected to is set to begin in August 2021 always outperform,” he added. CZC to finally jump-start the the island, has been mired with come up to RM 2.3 billion while while work on the undersea Zemek believes the project RM 6.34 billion Penang mega uncertainty due to a mixture of the rest is to come from the sale tunnel is set to start in 2023. would still gain from the expect- ed currency depreciation, at- tracting the interest of overseas investors even if Brexit were to push through by 31 October. ernment-linked companies in “There is a mixture of buy- UEM Sunrise Goes Digital with ‘hUb’ embracing technology. It is my ers and potential buyers from hope that through such part- South-East Asia including Ma- that our quest towards custom- nerships or collaborations the laysia and Singapore backed by er experience, operational ex- proptech ecosystem in Malaysia strong local demand,” he said. cellence and building sustain- will be nurtured and flourish Most buyers of BPS phase able communities of the future so that it will bring more new one were from Malaysia and hinges on our ability to adapt, ideas, innovation and added Singapore, with the rest being innovate and integrate digital value to the corporate players local buyers. technologies into our business,” in the property sector,” said Known as Circus West Vil- said Kenny Wong, Chief Mar- Norhizam Abdul Kadir, Vice lage, phase one is home to keting Officer of UEM Sunrise. President, Growth Ecosystem around 1,000 people as well as KUALA LUMPUR — One of ing, bringing Value and Easy “This is why we have em- Development of MDEC. 20 food and beverage outlets, Malaysia’s leading housing de- to own) philosophy and is part braced and started implement- Through the app, users will while more than 95 per cent of velopers, UEM Sunrise Berhad of the Company’s endeavour to ing various digital and innova- have access to a more immer- the commercial spaces are al- revealed their latest digital cus- ‘Go Digital’ via various collabo- tion initiatives internally and sive and improved customer ready leased. tomer interactive experience, a ration with external partners. externally. Concurrently, we are journey from the pre-search- Meanwhile, BPS phase two mobile application called hUb UEM Sunrise seeks to antic- actively looking for the right ing stage until the move-in which is the heart of the 42- at ‘The Future of Living by UEM ipate the customers’ evolving start-ups and newly emerged stage when buying a UEM acre project and hosts the Bat- Sunrise’ event in Publika. needs and continue to improve businesses to partner with, hop- Sunrise property. With a swipe tersea power station—will be hUb was developed to cater to the efficiency and quality of ing to bring more value to UEM of a finger, hUb makes it con- accommodating 5,000 Apple UEM Sunrise’s loyal customers, dealing with them, all of which Sunrise,” he added. venient and simplifies users to employees with both residen- or ‘Trésorians’ and future home are achieved through research, “Here in UEM Sunrise, a view UEM Sunrise’s upcoming tial and retail space set to be buyers as part of the Company’s improvements in sales process- workable base to push business properties, promotions, project completed by 2021. efforts to boost its customers’ es and investing in technology. operations towards digital is launches and more before mak- “Coupled with the demand experience by embracing inno- Among the partners for this dig- taking form. ‘Go Digital’ is set to ing their purchase decisions. for future Apple employees, we vation and ‘Go Digital’. ital journey are ‘Grab Partners’, become an important element In conjunction with the believe it will provide a synergy Registered hUb users will Virtareal, HOMEWORKS.MY, in our expansion plans moving launch, UEM Sunrise is running for both retail and residential in have access to a more immer- Salesforce, Loanplus, InneoNu- forward and our efforts can be #UEMShub, a week-long cam- the future,” Zemek stated. sive and improved customer sa, Jom Parking and SOCAR. broadly categorized into three paign from 21-28 June 2019, The BPS joint venture com- journey from the pre-searching hUb—UEM Sunrise’s first areas: Digitization, Partnership by giving away complimentary prises of SP Setia Bhd. and until the move-in stage when ever app—marks an important and New Business Model.” movie tickets to 300 lucky users Sime Darby Property Bhd., each buying a UEM Sunrise property. milestone in the Company’s “It is really encouraging to who download the hUb app by of which owns a 40 per cent ‘The Future of Living by UEM digital transformation journey. see productive and rewarding saving a screenshot of the home stake, with the remaining 20 Sunrise’ builds on the strength “To stay relevant in the mar- partnerships between the start- page and sharing it to their Ins- per cent held by the Employees’ of the Company’s EVE (Excit- ket, UEM Sunrise recognizes ups, private sector and gov- tagram accounts. Provident Fund. FEATURE July 2019 | Selangor Journal 13

phasize cost efficiency and dependence on cheap labour, rather than pursuing innovation as a source of growth. It would seem that the economy also has yet to create enough desirable jobs. Many vacancies in the labour market were in low and semi-skilled job cate- gories, which are less preferred and not suitable for fresh graduates. Out of 1,473,376 job vacancies in 2017, 86.9 per cent were low-skilled jobs that only require primary education while employment opportunities for skilled jobs that require tertiary educa- tion were only 4.7 per cent. 90 per cent of organizations agree that college graduates ought to be prepared when they enter the workforce, based on a 2014 review by the World Bank and unemployed people aged from 15 to Talent Corp. However, corporations can 24—a diverse age group that covers have a more significant impact by taking the individuals who have quite recently an interest in building up educational Unemployment completed secondary school or graduat- programmes or projects with colleges. ed from universities and are currently However, only less than 10 per cent of searching for employment—remains ex- organizations have experience in partic- ceptionally high. ipating in such programmes. Rates Recovering However, youth unemployment is a High youth unemployment is partly more substantive problem compared to due to many being unable to find em- unemployment, even on a global scale. ployment right after they leave school or lbeit at a slower pace, the Malaysian labour force is According to the Deputy Human Re- complete tertiary education. This situa- sources Minister, Dato’ , tion suggests that youths are more vul- recovering as the global economy continues to pick the unemployment rate for graduates nerable than mature adults in difficult up as we head into the latter half of 2019. had increased—from 137,400 (4.0 per economic times. They are likely to have cent) at the end of 2017 to 158,000 (4.3 less exposure and work experience. A per cent) at the end of 2018.Citing fig- Thus, youth who are entering the la- ures from a labour force report by the bour force for the first time will be at Statistics Department, Mahfuz said un- a disadvantage and have a harder time employment among youths aged 15 to finding employment compared, to adults 24 was completely normal, adding that with a more extended work history. By most developing and developed nations Muhaimin Merican A key reason faced this problem. is the slow High youth unemployment is not a new problem. A key reason is the slow enlisting enlisting process, in contrast with the number of people looking for employ- process, in ment. The slower pace of procuring can contrast with

the number of Skilled jobs that require tertiary education were High youth unemployment is partly due people looking only 4.7 per cent. to many being unable to find employment for employment. right after they leave school.

86.9 per cent were Fixing the System low-skilled jobs that Unemployment is one of the most cru- only require primary cial indicators of economic performance education. for a nation, and the government must intervene and enhance partnerships 201,000, with a rate of 2.3 per cent com- with all stakeholders to address issues pared to 2.4 per cent in the first quarter Out of 1,473,376 job with unemployment. The remedial steps According to the Department of Sta- of 2018. 23,000 jobs were created this vacancies in 2017 by the government should include iden- tistics, unemployment is one of the is- quarter. tifying the skills needed by industries, or sues that the country is still facing with mainstreaming technical and vocational the overall unemployment rate stagnat- Youth Unemployment also be attributed to conservative busi- education and training. ing at 3.3 per cent in the first quarter There was a drop in the number of un- ness practices and a moderate financial We could also begin to reduce the de- of the year. However, it has seen an in- employed youths—from 309,700 (11.5 presentation that limits organizations to pendency on foreign workers and priori- crease of 0.1 per cent during the second per cent) in the fourth quarter of 2017 grow their workforce. tize our local graduates and youth. Also, quarter of the year. to 293,700 (10.5 per cent) in last year’s the government should cultivate an en- Selangor, the largest employer with fourth quarter. Selangor faces an unem- Finding a Solution trepreneurship culture in Malaysia in 23.2 per cent of total national employ- ployment rate of 9.4 per cent. The rising youth unemployment rate can order to open up more employment op- ment, saw an overall unemployment Among Asean countries, the youth be mainly attributed to the high level of portunities and reduce the workforce’s rate of 2.8 per cent. unemployment rate is lowest in Singa- unemployed graduates,which increased reliance on current employment roles. In the first quarter of 2019, the num- pore at 4.6 per cent, followed by Thai- to 9.6 per cent, approximately 204,000, Besides this, the government can help ber of positions in the private sector land (5.9 per cent), Vietnam (7 per and makes up 40.5 per cent of the total create an integrated system that can went up by 82,000 to 8,549,000. This cent), Philippines (7.9 per cent) and unemployment figure. provide up-to-date information about was a rise from the first quarter of 2018 Indonesia (15.6 per cent). In China, it Despite the workforce becoming more economic growth areas and associated when there were only 8,468,000. The is at 10.8 per cent while India’s youth educated, job opportunities remain con- skills. This system could provide train- rate of positions that were filled reached unemployment is at 10.5 per cent. centrated in the low- and mid-skilled ing options and make career pathways 97.7 per cent while vacancies reached Youth unemployment, which includes jobs sector as domestic industries em- available to young people. 14 BUSINESS July 2019 | Selangor Journal

Atrium REIT to acquire Govt Wants Najib to Pay RM 1.69 bil land in Selangor for Income Tax he Malaysian government has filed a law- RM 45 mil suit against former prime minister Datuk Seri Najib Tun Razak, seeking RM 1.69 bil- trium Real Estate Investment Trust’s (REIT) trustee, Tlion in income tax which he still owes the Inland Pacific Trustees Bhd., has accepted an offer toac- Revenue Board (IRB) for the assessment years quire a piece of industrial land measuring 1.62 hect- 2011 to 2017. aresA in Shah Alam, Selangor for RM 45 million. The suit, filed through IRB on 25 June, named In a filing with Bursa Malaysia today, Atrium REIT said Najib as the sole defendant. the letter of offer from Permodalan Nasional Bhd. was for The government is seeking Najib to pay a piece of leasehold land along with a single-storey factory RM 1,692,872,924.83, with interest at five per last address at Jalan Langgak Duta, Taman Duta, building and ancillary area. cent a year from the date of judgment, as well as near here and the mail was never returned to IRB. The acquisition is expected to be funded through a com- cost and other relief as deemed fit by the court. It said that since Najib failed to pay the taxes bination of internally-generated funds, bank borrowings In the statement of claim, the government within the stipulated 30-day period as required and proceeds raised from a fundraising exercise to be un- said, as stated through a notice of addition- under Section 103 of the Income Tax Act 1967, dertaken by Atrium REIT. al assessments dated 20 March, the additional the amount was increased by 10 per cent. “The acquisition is in line with Atrium REIT’s investment tax assessments on Najib’s income for the as- Najib was given 60 days to pay the taxes, to- objectives and growth strategy to provide unit holders with sessment years from 2011 to 2017 amounted gether with the 10 per cent increase. However, stable income distribution and to achieve long-term growth to RM 116,173,374.12; RM 320,929,932.31; the government claims Najib failed to do so. in its net asset value per unit,” it said. RM 891,573,465.46; RM 119,144,655.51; Following this, Najib was slapped with anoth- RM 16,879,500.03; RM 643,445.21 and er five per cent increase on the 10 per cent hike, RM 346,471.41, for each respective year. amounting for the stipulated assessment years, The government claimed the notice was sent via bringing the total amount of income tax due to registered mail to Najib on 25 March, 2019, to his RM1,692,872,924.83, it said.

Forum to Highlight Business Opportunities, Prospects in Selangor

he opportunities, poten- collaboration with the IBR Asia under the Selangor Menteri Selangor Aerospace tials and promises for Group. Besar Enactment in September Venture on Track With businesses in Selangor As part of the journey in 1994, acts as a corporate body Twill be highlighted at the Selan- achieving the Smart State vi- which was set up expressly to Subang Aerotech Park gor: Regional Powerhouse fo- sion for 2025, the Selangor administer state-owned assets rum to be held here on 23 July. state government, through MBI and investment management Menteri Besar Selangor In- Selangor, is creating a roadmap and represent the state gov- corporated (MBI Selangor) said of regional cooperation and dis- ernment in carrying out any he Selangor state government’s foray into the aero- the event would also showcase semination of information. outsourced business under the space business is progressing well with the 24.3 ha how Selangor has the ideal eco- MBI Selangor, established latter’s jurisdiction. Subang Aerotech Park development expected to be system and infrastructure to be Tcompleted on time, as outlined by the Selangor Aerospace the nucleus of the ASEAN Eco- Action Plan (SAAP). nomic Community (AEC) vision. National Aerospace Industry Coordinating Office head The forum will, among oth- Shamsul Kamar Abu Samah said SAAP, which was launched ers, feature a high-level plenary Malaysian Capital Market in February, set a more precise direction for Selangor’s session comprising policy mak- to Step Up Cross-Border aerospace business activity, which is also supported by the ers and industry leaders to dis- state administration. cuss investment opportunities in Cooperation With China The venture is also boosted by the presence of UK-based Selangor and how state govern- Senior Aerospace UPECA that had committed its invest- ment and industries can work ment in the area in the first half of this year. together for mutual benefit. The Securities Commission countries’ capital markets. “With the action plan, we believe that Subang development There will also be three Malaysia will facilitate clos- The delegation from Malay- could be faster because of the better support received by the breakaway sessions by policy- er collaboration between the sia was led by Finance Minis- local government, which is not limited to only infrastructure. makers and industry leaders on Malaysian and Chinese capital ter . “Promotional activities are also being carried out by In- how Selangor can become the markets to mutually benefit “Along with Bursa Malaysia, vest Selangor Bhd.,” Shamsul Kamar told The Malaysian hub for smart cities for sustain- both economies, following its the SC had numerous engage- Reserve in an interview. able living, aviation and aero- visit on 4 July to the Shenzhen ments with the SZSE in recent SAAP is expected to strengthen policies for seven target- space, and future technology, Stock Exchange (SZSE). months to discuss initiatives ed areas, namely infrastructure, regulations, market access, MBI Selangor said in a state- During the visit, the delega- for more excellent cross-bor- incentives, funding, education and training. ment today. tion was received by the stock der connectivity, exchange of Mentri Besar, Amirudin Shari, recently announced that The speakers include Selan- exchange’s senior officials technical expertise and hu- the Selangor subsidiaries are also in the midst of studying gor Menteri Besar Amirudin and chairman Wu Lijun, who man capital development. the possibility of forming aerospace companies so that the Shari, Invest Selangor chief emphasised the substantial “We look forward to deep- state could directly profit from the multi-billion businesses. executive officer (CEO) Datuk success of SZSE in financing ening the ties between Ma- “The aerospace industry has been in Selangor for years, Hasan Azhari Idris, Nether- innovative Chinese companies laysia and China through this but we were not directly involved in these businesses. lands ambassador to Malaysia and SMEs, including those in collaboration. Following this Selangor subsidiaries are studying the possibility of Karin Mossenlechner, HSBC the technology and advanced working visit, SZSE, the SC forming aerospace companies to directly profit from the Malaysia CEO Stuart Milne, manufacturing sectors. and Bursa Malaysia will hold multi-billion ringgit business. Westports Holdings Bhd. chair- At the same time, there are further in-depth discussions to “Now, we would open companies under our subsidiaries man Tan Sri G. Gnanalingam, already several SZSE-listed define and sharpen the value to explore this sector, share the revenue and grow togeth- Sapura Energy Bhd. CEO Tan companies operating in Ma- proposition of the collabora- er,” he told reporters in Petaling Jaya, Selangor recently. Sri Shahril Shamsuddin and laysia under the Belt and Road tion, and work towards im- Selangor is already home to 62 per cent of the total 230 Nokia regional managing direc- Initiative, creating natural syn- plementing these initiatives,” aerospace companies in Malaysia at three hubs—Serendah, tor Datuk Siva Shanmugam. ergies and opportunities for SC chairman Datuk Syed Zaid Sepang and Subang. The event is organized in collaboration between both Albar said in a statement. BUSINESS July 2019 | Selangor Journal 15

Risks and rewards have increased as collateral is rehypothecated, that is, used by lenders for their own purposes. Such leveraging allows lenders to be- come borrowers. Mark-to-market prac- tices, shorting and rehypothecation thus increase risks for the financial system. More of the Same While securitization creates new asset classes for sale to varied investors with Financialization different risk preferences, derivatives al- low investors to hedge, thus increasing their exposure to securities. Repos allow borrowers to maximize leverage at low Promotes cost for shorting. These transformations generate more fragility in transnational finance, vul- nerable to large asset price swings, and Dangerous thus to financial instability. The 2008 global financial crisis began in securities markets, with CDOs involving subprime mortgages, and was transmitted via Speculation repo markets to other interconnected fi- nancial institutions. CDO losses accounted for nearly half By the total losses sustained by financial in- Jomo Kwame Sundaram, stitutions between 2007 and early 2009, Michael Lim Mah Hui when the collapse of Lehman Brothers triggered a run on global repo markets that in turn triggered banking and Euro- inancialization has involved issuers to use regulatory loopholes ex- pean sovereign debt crises. considerable ‘innovation’, of- Such expectations of empting them from the ‘normal’ capital Financial regulators recognize the ten of opaque, complex and requirements. systemic significance of these financial poorly understood financial risk-free financial gain The US subprime mortgage crisis, developments. Although the Financial instruments. These instru- inspired the issue of which began in 2007, quickly spread to Stability Board, created in the wake of ments typically have large debt compo- various CDSs; AIG, for much of the rest of the financial system the 2008 crisis, identified securitization Fnents involving leveraging, deepening and across national borders via related and repo markets as critical priorities for connections across markets and borders. example, issued half a CDOs and CDSs. This had repercussions shadow banking reform, securitization Three important financial innova- for the real economy worldwide, not is back on financial development agen- tions that have changed the financial trillion dollars’ worth. least through trade and other policy re- das, especially for developing countries. landscape—by promoting speculation, sponses, including protectionism. amplifying risks, and increasing econ- Regulators sanctioned omies’ vulnerability to financial vicissi- such instruments by Securities Financing *** tudes—are securitization of debt, deriv- Transactions (Repos) atives and the repo market. allowing issuers to use ‘Repo’ is short for ‘repurchase agree- Excerpt: regulatory loopholes ment’, also known as a securities financ- Debt Securitization ing transaction. Repos and reverse re- Visit this story at Long-term bank loans were illiquid. exempting them from pos are simply collateralized borrowing Loans were booked and sat on bank the ‘normal’ capital and lending respectively. The borrower Visit this story at http://ipsnews. balance sheets until maturity. With secu- sells a security to a lender, agreeing to net/2019/06/financialization-pro- ritization, illiquid loans could be pack- requirements. repurchase it at an agreed future date motes-dangerous-speculation aged as securities to be sold and traded and price, that is, upon maturity of the in secondary markets. Examples include repo loan. collateralized debt obligations (CDOs) Repos play two critical functions. containing packages of house mortgage Firstly, as an asset-liability management loans, divided into tranches with differ- tool for banks. To match their assets ent credit ratings. and liabilities, banks resort to lending Tranches define priority of payment Derivatives or borrowing, collateralized with secu- of both principal and interest from un- Derivatives are financial products meant rities (normally government securities) derlying loans, involving different in- for hedging risks but often used for spec- bought and sold. terest rates. An AAA-rated tranche has ulation. Investors can also secure addi- Secondly, repo markets have been priority of payment over mezzanine and tional leverage via derivative markets. used to cheaply fund financial insti- junior tranches, offering a lower interest Examples of derivatives include options, tutions’ securities portfolios, with re- Jomo Kwame Sundaram, a former eco- rate reflecting its safer profile. futures, swaps and structured products pos now accounting for large shares of nomics professor and United Nations The originating bank sells these CDOs such as credit default swaps (CDSs). banks’ balance sheets. Collateralized Assistant Secretary-General, was a to a ‘special purpose vehicle’ (SPV) that Before the 2008 global financial cri- loans are safer, and hence cheaper to fi- member of the new Malaysian Govern- is not treated as a bank subsidiary. It sis, CDSs were used to provide ‘insur- nance than uncollateralized ones. ment’s Council of Eminent Persons. is thus treated as an off-balance sheet ance’ on CDOs. CDS issuers guaranteed The lenders receive returns on repo transaction. The SPV sells the securi- the financial viability of CDOs, for a pre- loans from borrowers with the securities tized debt to investors who receive cash mium. Issuing CDSs was seen as a risk- marked to market daily. With prices fluc- flows from the interest due to the under- free way to capture premia, by assuming tuating, borrowers have to provide ad- lying loans. that the asset prices underlying the CDO ditional security when prices fall, while This was originally hailed as a brilliant would always rise; CDOs could thus con- lenders have to return excess security if financial innovation as former US Fed tinue generating cash flows even when prices rise. chair Alan Greenspan believed that CDOs subprime borrowers defaulted. With financial innovation such as transferred risk from banks to investors Such expectations of risk-free finan- ‘shorting’—borrowing securities to sell able and willing to take it on. Not only cial gain inspired the issue of various for profit when their prices fall—repo did securitization increase systemic risks, CDSs; AIG, for example, issued half a markets have increased opportunities Michael Lim Mah Hui it also did not reduce risk to the originat- trillion dollars’ worth. Regulators sanc- for profitable speculation on changes in ing banks who had sold off the loans. tioned such instruments by allowing the market prices of securities. SELANGOR JOURNAL 16 July 2019 | Selangor Journal

Did you know that Rawang, Selangor was the first city to receive electricity AR UND in Malaysia? Electricity first made its appearance in this country at the turn of Get to the 20th century, and the earliest record TOWN Know Your of power generation can be traced back to July 2019 Selangor a small mining town in Rawang, Selangor. Ghulam-Sarwar: Approaching South-East Asian Theatre from Within

Since the 1950’s, Western writings on traditional Malaysian Youth Policy performing arts within the broad and diverse South- Symposium (MYPS) East Asian landscape — whether covering the entire region, focused on particular countries or devoted MYPS is a policy competition in partnership with to specific performance genres have, with rare MBM, SMSA and six Malaysian policy institutions to exceptions, have been erratic and uneven in quality. create a student-led, professionally-developed policy They were mostly written by people not familiar with for Malaysia Baharu. Asia, its cultural forms and its aesthetic principles. Unexposed to Asian aesthetics, many South-East Mosque Architecture in As the inheritors of our country and the ones who Asian researchers and writers, including , will shape Malaysia’s future, it is important to have have continued to use the same western theories Melaka in Historical and student input in government policy. This competition and methods. It is therefore vital that local aesthetic Regional Context is a fantastic opportunity to do just that. If you’re theories be understood and applied for a genuine passionate about making a difference for Malaysia, appreciation of local art forms. In this public talk, architecture historian Dr Imran then MYPS is where you should start. Registration is bin Tajudeen will examine the translation of various open! Join MYPS now at http://bit.ly/MYPS2019. Based on the speaker’s personal involvement in architectural features from the pre-Islamic period South-East Asian traditional theatre over a period into the 15th century. Imran also invites the public of more than forty years, this presentation provides to reconsider the identity of Melaka’s mosques insights into some of the pertinent issues in research based on its position in South-East Asia’s Islamic and the need for new approaches towards a more architectural historiography. This is the sixth meaningful appreciation of traditional theatre genres. Tawarikh Talk presented by Melaka In Fact.

20 July 2019 27 July 2019 Malaysia Design Archive @ The Zhongshan Building Islamic Arts Museum Malaysia Free Admission Free Admission

20 July 2019 Sunway University Free Admission

Hosted by students of KDU University College, #TigersFor2morrow—in collaboration with the Ministry of Water, Land and Natural Resources (KATS)— is a fundraising campaign that aims to raise funds in support of the Sungkai Tiger Sanctuary under the management of PERHILITAN. The campaign also aims to educate and create a sense of awareness among members of the public and KDU University College regarding the effects of poaching on the Malayan Tigers as well as to encourage the community to support the government’s efforts in saving the Malayan Tigers.

18 July 2019 KDU University College, Glenmarie Free Admission

Published by the Selangor State Government Printed by Percetakan Nasional Malaysia Berhad (PNMB) 1, Jalan Chan Sow Lin, Chan Sow Lin, 55200 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur