...3.1 Sustainable Development in Malaysia Malaysia such as many other developing countries faces conflict between economic growth and conservation of environment [8]. However, it has recognized the concept of sustainable development and has embedded this concept in its policies, vision, mission, and plans [9]. Malaysia is also very active in international sustainability activities, which have been reflected by its participation in the 13th session of the commission on sustainable development in New York in 2005 [9]. Malaysia has also incorporated the principal of Agenda 21 as one of the important sustainable development documents in its planning process [8]. The following sections will explore some of the initiatives of sustainable development...
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...International Review of Business Research Papers Vol.2. No.1 August 2006 pp.1-14 An Evaluation of SME Development in Malaysia Ali Salman Saleh∗ and Nelson Oly Ndubisi∗∗ Small and medium enterprises (SMEs) in play a vital role in the Malaysian economy and are considered to be the backbone of industrial development in the country. However, few studies examined their development, challenges and future prospects. Therefore, the aim of this paper is to examine and analyse the role of SMEs in different sectors as well as their major contribution to the economy. The paper goes further to review the existing literature as well as the empirical studies in order to identify the major challenges (domestically and globally) that face this sector. The key messages from the studies examined in this paper are that Malaysian SMEs still face many domestic and global challenges in achieving economies of scale and competing internationally. Among the challenges are the low level of technological capabilities and limited skilled human capital resources, a low level of technology and ICT penetration, low levels of research and development (R&D), a substantial orientation towards domestic markets, a high level of international competition (for example, from China and India), a high level of bureaucracy in government agencies, and internal sourcing of funds. These characteristics suggest that government programs and incentives are either insufficient or not delivered effectively enough to overcome...
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...INTRODUCTION TO HUMAN RESOURCE DEVELOPMENT IN MALAYSIA The human resource development (HRD) can hardly be denied as one of the main reason to boost the development of any country. The objective of Vision 2020 of Malaysia which is to reach the standard of living of industrialized countries by the year 2020 have been clearly communicated and disseminated to all the organizations and its employees. The specific objective of the plan is to accelerate industrial restructuring, technological upgrading, human resource development and industrial linking. HRD being one of the development factor is given priority to support the implementation of a productivity-driven growth which required highly skilled, trainable and knowledgeable manpower. A greater emphasis is continuously given to increase accessibility to education at all levels in line with the democratization of the education policy. At the same time, the long-term objectives of generating a highly skilled labor force to meet the demand of the current economy remains in focus that HRD is a primary element in enhancing the nation’s competitiveness. Under the Tenth Malaysian Plan, one of the main emphasis for achieving productivity is to focus on skills development, especially in terms of upgrading the skills the existing work force to facilitate industries to move up the value chain. Skill development is also more concentrated towards specialization as one of the current ten big plans of the country is to thrive towards transforming...
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...Developments of Islamic Banking in Pakistan & Malaysia: An Analytical Review Abstract This study compares Islamic banking operations currently practiced in Pakistan and Malaysia. Both countries started Islamic banking in early 1980’s but employed entirely different approaches. Pakistan attempted to convert the entire financial system in accordance with Islamic law at once at national level. Malaysia adopted the gradual application approach. It allowed Islamic and conventional banking systems to operate and to compete for deposits on parallel basis. This study examines the Pakistani and Malaysian approaches towards the implementation of Islamic banking in their respective countries. It recognizes lack of commitment and long term planning problems in case of Pakistan. Introduction Islamic banking system has emerged as a competitive and a viable substitute for the conventional banking system during the last three decades. It is especially true for Muslim world where presently Islamic banking strides at two separate fronts. At one side, efforts are also underway to covert the entire financial systems in accordance to Islamic laws (Shariah). At the other side, separate Islamic banks are allowed to operate in parallel to conventional interest based banks. Pakistan and Malaysia are the two good examples of above mentioned approaches. Both countries adopted different tracks for the same ultimate destination of developing full fledge viable Islamic financial...
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...1.0 Pengenalan Sistem kewangan merupakan satu sistem yang mengandungi institusi perbankan, pasaran kewangan, pengantara kewangan lain seperti dana persaraan dan syarikat insurans. Sebuah badan kawal besar, iaitu bank pusat yang menyelia dan mengawasi operasi pengantara kewangan ini. Ia merupakan satu sektor dalam ekonomi yang menggunakan sumber-sumber produktif untuk memudahkan pembentukan modal melalui peruntukan daripada pelbagai alat-alat kewangan, iaitu memenuhi pelbagai keperluan antara pemberi pinjaman dan peminjam. Maka, sistem kewangan memainkan peranan yang penting dalam mengerahkan(mobilizing), pengantara untuk simpanan(intermediating saving), dan memastikan sumber-sumber ini adalah diperuntukkan dengan cekap kepada sektor-sektor yang produktif. Selain itu, Wang yang dominan dalam sesebuah ekonomi sekarang ialah wang kredit, wang yang tercipta ekoran aktiviti sektor perbankan mengambil deposit dan mengeluarkan pinjaman. Perkembangan ini serta peningkatan pesat inovasi kewangan dalam ekonomi berasaskan kredit boleh mempengaruhi pertumbuhan ekonomi di sesebuah negara. Ini yang menjadikan peranan sektor kewangan terhadap pertumbuhan ekonomi sering menimbulkan perdebatan di kalangan ahli-ahli ekonomi. Misalnya Miller (1998) yang menyatakan bahawa sektor kewangan telah dilebih-nyatakan(over-stressed) terhadap pertumbuhan ekonomi. Manakala, ahli ekonomi lain seperti Schumpeter (1911) dan Mikinnon (1973) yang menggunakan pelbagai kaedah ekonometrik telah memberikan kesimpulan...
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...Introduction Asian equity markets are sizable, expanding and fast growing. Asia specific derivative market has hold nearly 40 percent of world capitalization in 2015 and having annual volume of 9.7 Billion. Markets in countries like Japan, Korea, Malaysia, China, India and Korea are also sizable. Indian, China and Malaysia were second tier exchange in derivative market but growing rapidly. 2.0 Development of Derivative Market 2.1 Malaysia Malaysia start joining the derivative market trading community in October of 1980’s with the launched of crude palm oil futures at Kuala Lumpur Commodity Exchange (KLCE). KLCE was known as the first futures exchange in Malaysia and all of Southeast Asia, established in 1980. In December of 1995, Kuala Lumpur Options and Financial Future Exchange (KLOFFE) were officially licensed as a futures and options exchange, and trading on in its flagship stock index futures. In December 1998, KLCE and Malaysia Monetary Exchange (MME) were merged to establish Commodity and Monetary Exchange of Malaysian (COMMEX). Shortly after, in January 1999, KLOFFE became subsidiary of Kuala Lumpur Stock Exchange (KLSE). In June 2001, KLOFFE merged with COMMEX and form Malaysian Derivative Exchange (MDEX). Later Bursa Malaysia Derivative Berhad has listed in 2005. 2.2 China In 1980’s the relevant department study abroad to prepare and actively preparing for China's futures market .The China Zhengzhou Grain Wholesale Market, was the first commodities futures market...
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...prime minister of Malaysia, a country that observed a long period of economic stability with an annual average economic growth of 6.2% in the previous decade. Concerned about the new stages of economic development Mahathir went to New York looking for of foreign investment. In that time, the timber exportation had brought more foreign exchange than tin and rubber exportation. However, studies had indicated that this harvest without a rigid control would lead to a rapid deforestation of the region. Environmental groups, that said be concerned about the consequences of deforestation, threatened to boycott the use in the Western of timber-derived products produced by Malaysia. In this scenario, the question to be analyzed is to answer to international pressure of environmentalists, to ensure the attraction of new investments, without an abrupt break with the timber industry, essential for the politic economic and social stability of the country. The most appropriate decision is partially accept the demands of environmentalists. The short-term action is to resume the agenda of the International Tropical Timber Organization (ITTO) to search results that combine economic viability and environmental of the timber industry. Although internally controversial, the deforestation reduction will be naturally seen as a market move in response to projections of falling of commodities prices. In the long term, the country should direct new investments to the development of industrialization...
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...DISEASES OF PLANTATION CROPS PLP 5003 TITLE: SUSTAINABLE DEVELOPMENT OF OIL PALM AS THE MAJOR PLANTATION CROP IN MALAYSIA GROUP 7: MOHD HARLIZAN BIN MOHAMAD DARUS GS32853 ADIBAH NOOR BINTI KHAIRUDDIN GS36223 SHAHFAHZIELAH BINTI SHAMRAN GS36066 SITI NOR ANIZAM BINTI ZAMRI GS38320 1.0 INTRODUCTION The oil palm, Elaeis guineensis was brought over to the Bogor Botanic Garden in the Island of Jawa, Indonesia from West Africa in 1848 (Polunin, 2004). It has been planted in almost 43 countries in tropical regions of Southeast Asia, Africa and South America. It was planted in Malaysia in 1896 much later after Indonesia (Yacob, 2005). Now, this crop has become major plantation crop in Malaysia contribute to palm oil industry. Palm oil industry is one of the most traded agriculture commodities in the world. In Malaysia, this industry has been an important agriculture in the economy for the past three decades. Malaysia is one of the major producer of palm oil in the world which contribute17.6 million tonnes respectively in 2009. Recently, concern over the environment impact people around the world keeps on talking about global warming, greenhouses effect, deforestation and other environment impact caused by human activities or improper development. Government and private sectors are being urged to commence all agriculture activities include oil palm within the concept of sustainable development. Therefore, sustainability becomes the main word uses in almost...
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...EXAMPLES OF STATUTORY BODIES IN MALAYSIA IN TERMS OF ECONOMIC AND SOCIAL DEVELOPMENT The existence of statutory bodies has contributed a lot towards the development of Malaysia. Some of the developments can be seen in terms of social value and economic value. There are a number of statutory bodies in Malaysia that have contributed towards both the developments mentioned earlier. However, this report will only focus on three examples of statutory bodies in Malaysia, which consist of two statutory bodies that have contributed towards economic development and one statutory body that has contributed towards social development. ECONOMIC VALUE DEVELOPMENT Lembaga Tabung Haji Lembaga Tabung Haji is one of the many examples of statutory body that has contributed towards the development in terms of economic value in Malaysia. Lembaga Tabung Haji is an institution that was established with a focus on Islamic Finance in Malaysia. It was established in 1963. Lembaga Tabung Haji is the largest Islamic fund manager in Malaysia, with funds in excess of RM36 billion (Lembaga Tabung Haji, 2013). Lembaga Tabung Haji has 50 years of experience in terms of deposits, pilgrim services and operations, as well as investments. This many years of experience has strengthened its reputation in the country and proves that it is a very successful institution. Lembaga Tabung Haji has been striving for the economic empowerment of Muslims in Malaysia to leverage existing funds and resources. As a means to...
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...Universiti Malaysia Sarawak 94300 Kota Samarahan Sarawak, Malaysia Modern Economics (SSF 1074) Lecturer’s Name : Dr. Wong Swee Kiong Faculty : Faculty Of Social Science Group Leader : Tan Chia Wee Group Member : Chong Man Hing : Niroshan A/L Somu : Malvindersingh A/L Sarbansingh : Azura Binti Mortadza : Faridah Bt. Jamil Question No : 4 Introduction Poverty is a serious issued not only in Malaysia but the world. Poverty can cause a child starving without food, without education opportunity and a bad living environment. So, to help this people, the important things are to increase their income and they will out of the poverty line. Economic growth is often seen as a means of poverty elimination. There are often have some debate whether poverty really could be eliminating by the strength of economic growth or not. Economic growth means quantitative change or expansion in a country’s economy. Economic growth is conventionally measured as the percentage increase in Gross Domestic Product (GDP) or Gross National Product (GNP) during one year (Soubbotina & Sheram, 2000). Background of Study The important things in this study were to find out whether economic growth can really eliminate the poverty generally in Malaysia or Sarawak specifically. Besides that, some issues or idea would be discuss that should be taken into consideration to ensure that economic growth would contribute to poverty elimination in Malaysia. The study also...
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...Coursework 4 Developing Malaysia into an advanced nation respected in the eyes of the world needs commitment from the people of various races. What are the forms of commitment needed and what are the actions needed to fulfill the commitment until the development are attained? Development is highly complex both in terms of concept as well as in implementation. Scholars have provided various interpretations according to their own perspective. Some view it from the political angle, other, social or economic and many more, until the concept of development takes many forms. The citizens of Malaysia being different race, religion and descent, must be clear about this issue. This matter is all the more important because the people themselves took over the rule from the colonialists. Focus is given to the country’s main developmental policies before 13 May 1969, the New Economic Policy (NEP)that became the first long term plan known as Outline Perspective Plan 1 (OPP1), followed by the second long term plan (OPP2) and the third long term plan (OPP3). These philosophies and principles underlying development will hopefully enable all Malaysians to appreciate the direction or objective of the country’s development that has as its aim, national unity and racial integration. Besides that, the objective is also to raise the status of the citizens of Malaysia as a nation that is developed, progressive and harmonious as envisaged in Vision 2020. National Development Objective The general...
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...Executive Summary 1 1.0 Introduction 2 2.0 Major Developments of Malaysian Stock Market for the past 10 years (2002 – 2011) 4 2.1 Merger of Two Stock Exchanges (KLSE and MESDAQ) 5 2.2 Standard Board Lot of 100 units 5 2.3 FTSE Bursa Malaysia Index (FBM) 6 2.4 Bursa Trade Securities (BTS) 6 2.5 Introduction of Special Purpose Acquisition Companies (SPACs) 6 2.6 Amendments on Listing Requirements 7 2.7 Introduction of E-dividend and E-share Payment System 7 2.8 ASEAN Exchanges Trading Link 7 3.0 Capital Market Master Plan (CMP) 9 3.1 Capital Market Master Plan 1 9 3.2 Capital Market Master Plan 2 (CMP 2) 9 3.2.1 CMP2 and the development of stock market 12 4.0 Outlook of Islamic Stock Market 13 4.1 Introduction of Islamic Stock Market 13 4.2 Current Condition 13 4.3 Efforts in Strengthening Malaysia’s Position in Global Islamic Stock Market 13 4.4 Prospects of Malaysia Islamic Stock market over next decade 14 5.0 Conclusion 15 Reference List 16 Appendices 20 List of Figures Figure 1: Main indicators for Malaysia Stock Market from year 1989 to 2010 4 Figure 2: Malaysian Stock Market Capitalisation in the past ten years (2002 - 2011) 5 Figure 1: Number of stockbroking member companies before and after merger 21 Figure 2: Number of dealer representatives before and after merger 21 List of table Table 1: Market capitalisation of Shariah-compliant corporations in Malaysia………………………14 Executive Summary This study was conducted...
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...An Overview of the Malaysian Banking Sector FINA0501 ASIAN FINANCIAL INSTITUTIONS TERM PAPER LEE JUNHONG, JEREMY 2010540826 I. Introduction Malaysia has been an important player in the Asian economy since the early days of independence, and even before that, as a British protectorate. It is currently the third largest economy in Southeast Asia, and is the 28th largest economy in the world in terms of purchasing power parity according to the World Bank. Malaysia has also successfully diversified its role by focusing her economy on both the traditional sphere of primary agricultural produce as well as being a hub for light manufacturing in consumer durables and electronics. Strong economic planning and farsighted vision by both the government and central bank has been instrumental in maintaining a strong growth rate of her economy; her combined year on year growth since independence in 1957 has averaged 6.6%, which is no doubt a stellar record and one of the highest in Asia. The financial institutions and their functions have been instrumental in this success, and this paper will strive to highlight the strengths and weaknesses, as well as a general overview of the Malaysian banking sector. I. Historical background The earliest beginnings of the banking sector in Malaysia dates back to the early 19th Century under British influence and the expatriate (mainly British) merchant communities. The Straits Settlements comprising of Singapore, Malacca and Penang were administered...
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...MARINE ENVIRONMENT LAWS IN MALAYSIA DEVELOPMENT AND COMPLIANCE Outline of Presentation • Introduction • Objectives of Study • Methodology • Development of Marine Environment Laws in Malaysia • Compliance with Marine Environment Laws in Malaysia • Conclusions Introduction – Environmental Law • Body of international convention, domestic statutes • • • or laws, state or provincial ordinances and local government bylaws that govern human activities which impact the environment. Established to: - avoid tragedy of the commons - eliminate free riders in environmental protection and control of pollution And in response to: - the growing development of environmental ethics - the changing requirement of international law Tool for implementing policies Objectives of Study • Examine marine environment laws in Malaysia in terms of its development and its coverage; • Assess the level of compliance with marine environment laws in Malaysia and what it means in terms of environmental management; and • Identify means to promote compliance with environmental laws. Research Questions • How has marine environmental law in Malaysia changed over the years? • Are our laws adequate in dealing with marine environment issues? • What is the level of compliance with our marine environment laws? • Can the compliance level be improved? • What are the factors which drive environmental law development in Malaysia? Methodology • Identification...
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...I. History of Islamic Banking in Malaysia Malaysia started Islamic banking in early 1980’s. Islamic Banking is especially true for Muslim world where currently Islamic banking strides at two separate fronts. At one side, efforts are also underway to convert the entire financial systems in accordance to Islamic laws (Shariah). At the other side, separate Islamic banks are allowed to operate in parallel to conventional interest based banks. Malaysia opted for the alternative gradual way of developing and implementing Islamic banking system. 1.1 Origin of Islamic Banking in Malaysia The roots of Islamic Banking in Malaysia should go back to 1963 when the government established Tabung Haji or Pilgrims Management and Fund Board. The organisatio was established to invest the savings of the local Muslims in interest free places, who want to carry out pilgrim (Haji). Tabung Haji utilizes Mudarabah (profit and loss sharing), Musharikah (joint venture) and Ijara (leasing) modes of financing for investment under the guidance of National Fatawah Committee of Malaysia. The first call for separate Islamic bank was made in 1980, in a seminar held in the National University of Malaysia. The members who attend had passed a decision requesting the government to create a special law to setup an Islamic bank in the country. Thereafter, the government had set up a National Steering Committee in 1981 to study legal, religious and operational aspects of organized an Islamic bank. The committee...
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