Malaysia Clippings: Council Roundtable with Malaysia DPM

Top Story: Council Roundtable with Tan Sri Muhyiddin | June 29, 2011
In this update:
  • Council Programs
  • US-Malaysia Trade
  • Infrastructure Capacity Building
  • Iskandar Malaysia

Looking Ahead...

  • July 19-21: 2011 Senior Executives Business Mission to Malaysia. The Council is currently registering participants for its Business Missions to Malaysia. The Missions will focus on the TPP, ASEAN Connectivity, and building US-Malaysia business-to-business relations. 
For information about the Council's engagement in Malaysia, please contact Daniel Wu dwu@usasean.org

Rountable with Malaysia Deputy Prime Minister, Tan Sri Dato' Muhyiddin Yassin | June 29, BERNAMA

The US-ASEAN Business Council hosted a business dialogue on June 28, sponsored by Intel and Qualcomm, with Malaysia’s Deputy Prime Minister Tan Sri Dato’ Haji Muhyiddin Yassin. Tan Sri Muhyiddin was in Washington to lead Malaysia’s delegation with BiotechCorp to the 2011 BIO International Convention. Executives from the following companies attended the dialogue:  ConocoPhillips, Intel, Qualcomm, Citigroup, and ACE Group. The discussion covered a variety of topics including:

  1. An exchange of views on the TPP negotiations.
  2. An update on GTP and ETP initiatives.
  3. Opportunities for US companies to participate in both ETP and regional corridor related projects.

Council Vice President Marc Mealy noted the continued deepening of existing and, perhaps more importantly, broadening of US-Malaysia bilateral economic relations into new areas including oil & gas services, aerospace, and R&D in manufacturing.

Malaysia's Trade Surplus with US Declining Due To Rising Imports – Matrade | June 22, The Star

Malaysia's trade surplus with the United States is declining following rising imports from the world's biggest economy, says the New York office of the Malaysia External Trade Development Corporation (Matrade).

It said US-Malaysia bilateral trade totaled USD40 billion last year, with Malaysia's exports amounting to USD26 billion, while imports worth USD14 billion, resulting USD12 billion in trade surplus.

Malaysia's exports rose by 11.3 per cent but imports posted a strong growth of 34 per cent, says Matrade Commissioner in New York Wan Latiff Wan Musa.

PM proposes closer GLC-private sector collaboration | June 24, The Edge

Prime Minister Datuk Seri Najib Tun Razak wants closer government-linked companies (GLCs)-private sector collaboration, particularly in expanding their joint footprints overseas.

"There can also be collaborations in catalyzing new growth sectors domestically. Yet, at the same time, GLCs will continue divesting non-core and non-competitive assets," he said when launching GLCs “Open Day 2011” on Friday, June 24.

Najib said GLCs have not only performed well but have also expanded their footprints beyond Malaysia's shores.

Mustapa: Investors urged to help promote Malaysia | June 29, The Business Times

Minister of International Trade Mustapa Mohamed has called on foreign investors in the country to help promote the nation as an investment destination since their personal endorsement makes for 'a most powerful marketing tool'.

The guest speaker at the annual Malaysian International Chamber of Commerce and Industry (Micci) luncheon, Mr Mustapa acknowledged the cynicism most investors have towards the implementation of government policies and projects, the latest being the New Economic Model and Economic Transformation Programme (ETP).

US-Malaysia Biotech tie-up sought | June 29, The Star

Malaysia wants further collaboration with the University of Maryland to tap its human and animal healthcare expertise and research capabilities.

Deputy Prime Minister Tan Sri Muhyiddin Yassin, who was briefed by senior university officials during his visit to the campus here yesterday, said he was impressed with the scope of programmes and the medical, agricultural and biotech research work being undertaken.

The focal point of the discussion involved research for a vaccine Bifor Newcastle Disease and Avian Influenza that are two of the most dangerous poultry diseases.

Broadband target achieved ahead of schedule | June 28, The Star

The national broadband penetration target of 60% by the year end has been achieved ahead of schedule, said Information, Communications and Culture Minister Datuk Seri Dr Rais Yatim.

Buoyed by the achievement, he said the ministry had set a new target of 70% national broadband penetration by the year end.

Dr Rais attributed the success to joints efforts by the Malaysian Communications and Multimedia Commission (MCMC) and telecommunications companies in improving internet quality and access.

Khazanah and Temasek team up to develop projects worth RM30bil | June 28, The Star

Khazanah Nasional Bhd and Temasek Holdings have teamed up to develop RM30bil worth of real estate projects in Singapore and Iskandar Malaysia in Johor.

Khazanah and Temasek are in discussions with potential partners and operators for the parcels of land in Iskandar Malaysia to maximise the commercial potential of the location.

Planning and design for those projects started in the first quarter of this year and will be completed in stages over the next five years.