miti weekly bulletin vol 328
DESCRIPTION
MWB Volume 328 3 March 2015TRANSCRIPT
1. TheASEANEconomicMinisters (AEM)expressed confidence that the region’seconomieswillmaintain their momentum in 2015 despite the global economic and geopolitical challenges. TheyemphasisedthatthedeepeningeconomicintegrationintheregionwouldserveasabufferinhelpingASEANprogressandprosper.
2. Theymadetheseremarksatthe21stASEANEconomicMinisters’Retreatheldon28Februaryto1March2015 inKotaBharu,Malaysia.TheRetreatwaschairedbyDato’SriMustapaMohamed,Malaysia’sMinisterofInternationalTradeandIndustry.MalaysiaistheChairofASEANfor2015.
Economic Outlook for ASEAN
3. “WeexpectASEAN’seconomicperformancetoimprovein2015to5.1%,abovethe3.5%globalgrowthprojection.Webasedthisonthestrongerdemandinadvancedeconomies,energisedbytherobustUSrecoveryandseveralpolicystimulusmeasuresintheEurozoneandJapan.Also,theregion’sdomesticdemandcouldgeta furtherboost from fallingoilpriceswithhigherpurchasingpower forconsumers,lowerinputcostsforproducersandgreaterfiscalspace,”theMinisterssaid.
4. They cautioned,however, that fallingoil prices could affectexport earnings andgovernmentrevenuefornetoil-exportingeconomiesinASEAN.TheMinistersalsohighlightedtheconcernposedbycurrencyvolatility,includingpossiblecapitalflowreversals.
5. “ThisiswheretheimplementationofASEAN’sregionaleconomicintegrationcanhelpMemberStatesovercomethechallengesposedbyglobaleconomicvolatility.In2013,intra-ASEANtradeamountedtoUSD608.6billion,accountingfor24.2%oftotaltradeoftheregion,comparedwithUSD458.1billionin2008whentheAECBlueprintwasfirstimplemented.Similarly,totalforeigndirectinvestment(FDI)inflows toASEANamounted toUSD122.4billion in 2013, representing thehighest FDI flows into aregion,globally.Intra-regionalFDIaccountedforasignificantshareof17.4%oftotalFDIflowsintotheregionin2013,”theMinistersfurtherelaborated.
21ST ASEAN ECONOMIC MINISTERS’ RETREATKOTA BHARU, KELANTAN, MALAYSIA
28 February -1 March 2015Joint Media Statement
MITI Weekly Bulletin / www.miti.gov.my 01
Establishing the ASEAN Economic Community
6. TheMinisterswelcomedthesteadyprogressmadeinimplementingtheAECBlueprint,inparticularthe keymeasures prioritisedbyMember States. “Benefits are alreadyflowing toASEANbusinessesand consumers, from significant tariff liberalisation, progress in trade facilitationmeasures such asself-certification,simplificationofcustomsprocedures,andtheMutualRecognitionArrangementsonthemovementofskilledprofessionals intheregion.ASEANhasalsoput inplace legalstructuresoncompetition,consumerprotectionandintellectualproperty,contributingtoanimprovedenvironmentforbusiness.”
7. “TheformalestablishmentoftheAECbyend-2015marksamajormilestoneinASEAN’sefforttofulfilthegoalofanintegratedregion,encapsulatedundertherubricofOneVision,OneIdentity,OneCommunity.TheimplementationoftheAECmeasuresdoesnotmeanthatASEANwillbecomeasingleeconomicentityby1January2016,ratheritsendsastrongsignalthatpositivemeasureshavebeenputinplacetowardsamoreliberalisedandintegratedeconomicregion,”theMinistersadded.
8. TheMinisters highlighted that the focus for this year would be on further simplification ofCustoms procedures, harmonisation of standards, further liberalisation of services, enhanced tradefacilitation,andconclusionoftheservicesandinvestmentsportionoftheASEAN-JapanComprehensiveEconomicPartnership.TheMinistersalsodiscussedtheprogressindevelopingtheSMEStrategicActionPlan,with a specific focus onmicro and small enterprises, and the promotion of globally acceptedregulatorypractices.
Pushing Ahead with Regional Trade Talks
9. The Ministers noted that seven rounds of negotiations have been completed since thecommencement of the Regional Comprehensive Economic Partnership (RCEP) talks in 2013.Whenconcluded,RCEPwilllinktogethertheeconomiesofASEAN,Australia,China,India,Japan,KoreaandNewZealand.Theenvisionedgroupingwillaccountforhalftheworld’spopulationandalmost30%oftheglobaleconomy.
10. Amongtheoutstandingissuesyettobefinalisedarethoseontradeingoods,tradeinservicesandinvestment.TheMinistersurgedallPartiestoworkoutsolutionsthatarepragmatic,credible,andacceptabletoall,aswellasconsistentwiththeGuidingPrinciplesandObjectivesofNegotiatingtheRCEP.Notingthecomplexitiesofthissignificantundertaking,theMinistersreiteratedthecommitmenttoaimtocompletenegotiationsbyend-2015.
TheDecadeAhead
11. TheMinistersalsodiscussedtheprogressindevelopingacomprehensivevisionforAECbeyond2015.TheynotedthattheAECwillrequirefurtherenhancementstomeetthedemandsandchallengesover thenext tenyears. “This isparticularly relevantgiven thedynamicglobalenvironmentwearein.ASEANwillneedtoconstantly innovateandstrengthen itselftoensurethattheregioncontinuestobegloballycompetitive,” theMinisterselaborated. In this regard, theMinistersarecommittedtoimplementingtheNayPyiTawDeclarationonASEANCommunity’sPost-2015VisionadoptedbyLeadersat the 25th ASEAN Summit in November 2014. The Declaration endorsed the deepening of ASEANintegration, promotion of sustained and equitable economic growth, and promotion of ASEAN as arules-basedcommunityamongthekeyelementsofthisVision.”
12. TheMinisterswelcomedthestrongcontributionoftheprivatesectorandotherstakeholderstotheworkof theAEC.Theyreaffirmedthevalueofregularstakeholderconsultationsanddirectedofficials to review the recommendations of theASEANBusiness Advisory Council and other privatesectororganisations,withaviewtofurtherfosteringandfacilitatingtradeandinvestmentopportunitiesintheregionandbeyond.
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DomesticRM 171.3 b
ForeignRM 64.6 b
7.132.3
131.9
7.3
39.6
17.7
0
20
40
60
80
100
120
140
160
Primary Sector Manufacturing Sector Services Sector
RM billion
Foreign
Domestic
Source : MIDA
Source : MIDA
Investment by Sectors, 2014
Approved Private Investments , 2014
Total Investment : RM 235.9 billion
MALAYSIA
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Investment in Primary Sector (RM million), 2014
Investment in Selected Services Sub-Sector, 2014
Domestic, 169.9
Foreign, 80.7
Agriculture
Domestic, 6,238.8Foreign,
7,211.9
Mining
Domestic, 724.2
Plantation & Commodities
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
90,000
Real Estate Utility DistributiveTrade
FinancialServices
Hotel &Tourism Transport Support Services
84,314.7
9,046.13,742.7 5,252.2 6,348.8 5,899.7 4,700.8
4,244.2
4,923.1 1,618.7 341.1 228.9 557.9
RM m
illio
n
Foreign Domestic
RM 14.4 billion
RM 149.6 billion
Source : MIDA
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Source : MIDA
6,330
11,305
48,468
12,240
2014
Investment and Potential Employment in Manufacturing , 2004 - 2014
Domestic
32.3
Foreign
39.6
0
10
20
30
40
50
60
70
80
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
RM billion
88,634
78,343
40,000
50,000
60,000
70,000
80,000
90,000
100,000
110,000
120,000
2004 2006 2008 2010 2012 2014
Potential Employment
5,666
13,470
28,6807,813
33,005
2004
Managerial
Supervisory &TechnicalSkilled Workers
Sales, Clerical &OthersUnskilled Workers
Source : MIDA
Category of Employment
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Approved Manufacturing Projects by Industry, 2014
Projects Approved with Foreign Participation by Country, 2014
10.9
7.8
4.8 4.4
1.5 1.4 1.1 1.1 0.8 0.8
0.0
2.0
4.0
6.0
8.0
10.0
12.0
Japan Singapore PRC Germany South Korea USA Ireland Italy Netherlands India
RM billion
Investment by State (RM million), 2014
13,310
1,2383,049
3,837
768
7,866
8,4025,114
3,205
4,517
0%10%20%30%40%50%60%70%80%90%
100%
Johor Sarawak Pulau Pinang Selangor Kedah
Foreign Investment Domestic Investment
11,255
7253,047 1,975
3,748
4,727
10,4237,704
7,9691,868
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
Petroleum Products Electronics & ElectricalProducts
Chemical & ChemicalProducts
Basic Metal Products Transport Equipment
RM million
Foreign InvestmentDomestic Investment
Source : MIDA
Source : MIDA
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Source : MIDA
Source : Ministry of Plantation Industries and Commodities (MPIC) F.O.B : Free On Board
26,156
-
5,000
10,000
15,000
20,000
25,000
30,000
Jan
Feb
Mar
Apr
May Jun Jul
Aug
Sep
Oct
Nov Dec Jan
Feb
Mar
Apr
May Jun Jul
Aug
Sep
Oct
Nov Dec Jan
Feb
Mar
Apr
May Jun Jul
Aug
Sep
Oct
Nov Dec Jan
Feb
Mar
Apr
May Jun Jul
Aug
Sep
Oct
Nov Dec Jan
Feb
Mar
Apr
May Jun Jul
Aug
Sep
Oct
Nov Dec Jan
Feb
2010 2011 2012 2013 2014 2015
RM / Tonne
0
200
400
600
800
1,000
1,200
2009 2010 2011 2012 2013 2014
USD / Cubic Metre
Sawlogs(Meranti)
Sawntimber(Meranti MerahTua)
Plywood Plain(2.7 mm)
Source : Ministry of Plantation Industries and Commodities (MPIC)
07 MITI Weekly Bulletin / www.miti.gov.my
Pepper Average Price, 2010-2015
F.O.B Unit Value of Selected Forest Products, 2009-2014
Did You Know?
Exports2,634.0
Imports546.7
0
500
1,000
1,500
2,000
2,500
3,000
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
RM million
Source : http://www.tradingeconomics.com
‘ASEAN and You’
MITI’s ASEAN Portal can be accessed via http://www.miti.gov.my/
K e y E c o n o m i c I n d i c a t o r sM y a n m a r
Source:Department of Statistics, Malaysia
NationalAccount
GDP Growth Rate6.4% ( 2014)
External Trade (2014)
Exports: US$ 10.23 bil.Imports: US$ 13.69 bil.
Total Trade:US$ 23.92 bil.
Malaysia’s Trade with Myanmar : 2004-2014
PricesInflation Rate
3.3% (2014)
LabourUnemployment Rate
4.0% (Jan - 2014)
Area676,578 sq km
261, 227 sq miles
Population53.7 million
2014
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International Repor t
The “Oily” Truth, Jan - Nov 2014“D
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U.S Economic Indicators (Second Estimate)
GDP2014*2.6%
Unemployment Rate2014* 5.6%Inflation Rate
2014*0.76%
Producer Price IndexDec 2014- 0.2
Consumer Price Index2014*234.8
23,723
68,812
3,705
31,463
56,090 57,953
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Crude Petroleum Petroleum Products LNG
RM million
Imports Exports
Source : Department of Statistics, Malaysia
Source : US Bureau of Economics
Source : http://econ.worldbank.org
9.409.609.8010.0010.2010.4010.6010.8011.0011.2011.40
0.014
0.015
0.016
0.017
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2014 2015
100 VND = RM 100 THB = RM
100 THB = RM 10.94
100 VND = RM 0.017
Source : http://www.gold.org/investments/statistics/gold_price_chart/ Source : http://www.hardassetsalliance.com/charts/silver-price/usd/oz
Malaysian Ringgit Exchange Rate with Vietnamese Dong and Thai Baht
Gold and Silver Prices, 12 December 2014 - 27 February 2015
Aluminium, Nickel and Copper Prices, January 2014 - January 2015
Source : Bank Negara, Malaysia
1,815
5,831
14,849
-
2,500
5,000
7,500
10,000
12,500
15,000
17,500
20,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2014 2015
US$/mt
Aluminium Copper Nickel
39.1 39.0
36.0
37.0
38.0
39.0
40.0
41.0
42.0
43.0
12
Dec
19
Dec
26 D
ec
2 Ja
n
9 Ja
n
16 Ja
n
23 Ja
n
30 Ja
n
6 Fe
b
13 Fe
b
20 Fe
b
27 Fe
b
US$/Gram Gold
17.0
16.6
14.5
15.0
15.5
16.0
16.5
17.0
17.5
18.0
18.5 1
2 De
c
19
Dec
26 D
ec
2 Ja
n
9 Ja
n
16 Ja
n
23 Ja
n
30 Ja
n
6 Fe
b
13 Fe
b
20 Fe
b
27 Fe
b
US$/Oz Silver
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Source: Ministry of International Trade and Industry, Malaysia
Notes: The preference giving countries under the GSP scheme are Japan, Switzerland, the Russian Federation, Norway, and Cambodia.
AJCEP: ASEAN-Japan Comprehensive Economic Partnership (Implemented since 1 February 2009) ACFTA: ASEAN-China Free Trade Agreement (Implemented since 1 July 2003) AKFTA: ASEAN-Korea Free Trade Agreement (Implemented since 1 July 2006)
AANZFTA: ASEAN-Australia-New Zealand Free Trade Agreement(Implemented since 1 January 2010)
AIFTA: ASEAN-India Free Trade Agreement (Implemented since 1 January 2010)
ATIGA: ASEAN Trade in Goods Agreement (Implemented since 1 May 2010)
MICECA: Malaysia-India Comprehensive Economic Cooperation Agreement (Implemented since 1 July 2011)
MNZFTA: Malaysia-New Zealand Free Trade Agreement (Implemented since 1 August 2010)MCFTA: Malaysia-Chile Free Trade Agreement (Implemented since 25 February 2012)MAFTA: Malaysia-Australia Free Trade Agreement (Implemented since 1 January 2013)
MPCEPA: Malaysia-Pakistan Closer Economic Partnership Agreement (Implemented since 1 January 2008)
MJEPA: Malaysia-Japan Economic Partnership Agreement (Implemented since 13 July 2006)
4 Jan 11 Jan 18 Jan 25 Jan 1 Feb 8 Feb 15 Feb 22 FebAANZFTA 80 115 76 86 90 87 92 74AIFTA 178 110 132 139 143 120 240 122AJCEP 34 136 75 75 75 104 116 72
0
50
100
150
200
250
300
RM
mill
ion
4 Jan 11 Jan 18 Jan 25 Jan 1 Feb 8 Feb 15 Feb 22 FebATIGA 790 561 4,904 546 773 631 11,127 9,861ACFTA 451 306 303 464 562 505 533 165AKFTA 126 656 166 184 327 1,064 487 592
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
RM
mill
ion
4 Jan 11 Jan 18 Jan 25 Jan 1 Feb 8 Feb 15 Feb 22 FebMICECA 53.02 44.94 39.93 65.37 43.02 58.35 47.23 40.80MNZFTA 0.07 0.31 0.09 0.08 0.52 0.25 0.08 0.02MCFTA 14.10 12.17 24.98 9.42 14.72 7.43 8.30 5.61MAFTA 47.84 28.88 96.36 42.20 40.95 27.65 51.15 25.27
0
20
40
60
80
100
120
RM
mill
ion
4 Jan 2015 11 Jan 2015 18 Jan 2015 25 Jan 2015 1 Feb 2015 8 Feb 2015 15 Feb 2015 22 Feb 2015
AANZFTA 766 819 809 963 883 663 1,001 467AIFTA 441 498 584 531 558 559 521 485AJCEP 134 325 185 170 243 241 254 116ATIGA 4,021 3,967 4,297 3,775 4,693 4,081 4,287 2,648ACFTA 1,167 1,231 1,429 1,150 1,232 793 920 790AKFTA 597 585 629 767 760 665 823 610MICECA 314 267 266 302 311 307 344 236MNZFTA 9 10 3 6 13 7 6 2MCFTA 48 61 74 39 62 56 53 27MAFTA 341 375 376 417 450 341 481 206MJEPA 741 948 835 874 972 817 847 608MPCEPA 124 157 160 160 158 153 130 139GSP 94 144 112 163 196 104 152 73
4 Jan 11 Jan 18 Jan 25 Jan 1 Feb 8 Feb 15 Feb 22 FebMJEPA 179 145 152 355 157 123 133 116MPCEPA 11 34 75 20 18 41 17 72GSP 14 20 17 28 24 414 43 14
50
0
50
100
150
200
250
300
350
400
450
RM
mill
ion
Value of Preferential Certificates of Origin
Number and Value of Preferential Certificates of Origin (PCOs)Number of Certificates
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CommodityCrude
Petroleum (per bbl)
Crude Palm Oil (per MT)
Raw Sugar
(per MT)
Rubber SMR 20(per MT)
Cocoa SMC 2
(per MT)
Coal(per MT)
Scrap Iron HMS
(per MT)27 Feb 2015
(US$) 49.8 689.0 310.8 1,438.0 2,124.6 56.8 260 (high)240 (low)
% change* 2.1 0.1 4.9 1.3 0.5 0.2 7.14.0
2014i 54.6 - 107.6 823.3 352.3 1,718.3 2,615.8 59.8 370.0
2013i 88.1 - 108.6 805.5 361.6 2,390.8 1,933.1 .. 485.6
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Commodity Prices
Notes: All figures have been rounded to the nearest decimal point * Refer to % change from the previous week’s price i Average price in the year except otherwise indicated n.a Not availble
Source : Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Iron and Steel Industry Federation, Bloomberg and Czarnikow Group.
Highest and Lowest Prices, 2014/2015
Lowest (US$ per bbl)
Highest(US$ per bbl)
Crude Petroleum (27 February 2015)
US$49.8 per bbl
201413 June 2014: 107.6
201426 Dec 2014: 54.6
20152 Jan 2015: 53.8
201523 Jan 2015: 45.6
Lowest (US$ per MT)
Highest(US$ per MT)
Crude Palm Oil (27 February 2015)US$689.0 per MT
201414 Mar 2014: 982.5
201426 Dec 2014: 664.0
201516 Jan 2015: 701.0
20156 Feb 2015: 621.0
Steel Bars(per MT)
RM1,900 - RM2,000
Average Domestic Prices, 27 Feb 2015
Billets(per MT)
RM1,500 - RM1,600
1,436.5
1,481.0
1,470.5
1,520.5
1,453.0
1,396.5
1,406.0
1,384.5
1,418.51,426.5
1,419.5
1,438.0
1,350
1,370
1,390
1,410
1,430
1,450
1,470
1,490
1,510
1,530
12 Dec 19 Dec 26 Dec 2 Jan 9 Jan 16 Jan 23 Jan 30 Jan 6 Feb 13 Feb 20 Feb 27 Feb
US$
/mt
Rubber SMR 20
319.8314.8 314.0
309.3
301.8
335.3
345.5
331.3
324.3
330.0326.8
310.8
280
290
300
310
320
330
340
350
360
12 Dec 19 Dec 26 Dec 2 Jan 9 Jan 16 Jan 23 Jan 30 Jan 6 Feb 13 Feb 20 Feb 27 Feb
US$
/mt
Raw Sugar
52.8
51.7 51.8 51.8
53.5
51.6
51.1
49.9
51.1
56.1
56.9
56.8
46.0
48.0
50.0
52.0
54.0
56.0
58.0
12 Dec 19 Dec 26 Dec 2 Jan 9 Jan 16 Jan 23 Jan 30 Jan 6 Feb 13 Feb 20 Feb 27 Feb
US$
/mt
Coal
128.1
121.4
111.8
114.6
100.6
92.796.1
92.6
82.4
81.0
74.0 68.0
68.0
50.0
60.0
70.0
80.0
90.0
100.0
110.0
120.0
130.0
140.0
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
2014 2015
US$
/dm
tu
Iron Ore
681.5
669.0664.0
699.2
696.1
701.0
682.0
645.0
621.0
685.0690.0 689.0
600
620
640
660
680
700
720
12 Dec 19 Dec 26 Dec 2 Jan 9 Jan 16 Jan 23 Jan 30 Jan 6 Feb 13 Feb 20 Feb 27 Feb
US$
/mt
Crude Palm Oil
2,218.8
2,288.1
2,280.4
2,280.4
2,117.5
2,187.8
2,065.2
1,958.9
2,003.9
2,060.0
2,113.72,124.6
1,900
1,950
2,000
2,050
2,100
2,150
2,200
2,250
2,300
2,350
12 Dec 19 Dec 26 Dec 2 Jan 9 Jan 16 Jan 23 Jan 30 Jan 6 Feb 13 Feb 20 Feb 27 Feb
US$
/mt
Cocoa
58.1
56.4
54.653.8
48.4
48.7
45.6
48.2
51.752.8
50.849.8
40
42
44
46
48
50
52
54
56
58
60
12 Dec 19 Dec 26 Dec 2 Jan 9 Jan 16 Jan 23 Jan 30 Jan 6 Feb 13 Feb 20 Feb 27 Feb
US$
/bbl
Crude Petroleum
320.0 320.0 320.0 320.0 320.0 320.0 320.0
330.0320.0
280.0 280.0
260.0
300.0 300.0 300.0 300.0 300.0 300.0 300.0
320.0
300.0
250.0 250.0
240.0
220
240
260
280
300
320
340
360
14 Nov 21 Nov 28 Nov 5 Dec 12 Dec 19 Dec 26 Dec 2 Jan 9 Jan 6 Feb 13 Feb 27 Feb
US$
/mt
Scrap Iron
Scrap Iron/MT (High) Scrap Iron/MT(Low)
* data not available from 16 - 30 Jan, and 20 Feb 2015
Source : Ministry of International Trade and Industry Malaysia, Malaysian Palm Oil Board, Malaysian Rubber Board, Malaysian Cocoa Board, Malaysian Iron and Steel Industry Federation, Bloomberg and Czarnikow Group.
Commodity Price Trends“D
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LKL Advance Metaltech Sdn Bhd (278577-X)SUCCESS STORY
Oportunities are found in the most unlikely places; and this was the same for LKL Advance Metaltech Sdn Bhd, Malaysia’s leading medical furniture manufacturer that provides comprehensive and smart solutions for today’s healthcare sector. The company specialises in a broad spectrum of products, namely hospital beds, patient transport trolleys, birthcare tables, medical treatment carts, peripheral support equipment and the fabrication of steel and wooden products.LKL products are widely recognised for their outstanding quality. Complemented by excellent after sales service, the company has successfully earned the trust and confidence of healthcare providers worldwide.
DELIVERING BEYOND EXPECTATIONS IN THE HEALTHCARE INDUSTRY
LKL successfully penetrated the global market, starting with West Asia. Initially, there was some resistance and difficulties, due to cultural differences, perceptions and cost issues. However, LKL stayed true to its vision, by delivering only the best.Eventually, LKL managed to secure long-standing business opportunities in various countries, including Bangladesh, Pakistan, Singapore, the United Arab Emirates, Thailand and Kenya. The role of MATRADE came into play when LKL was seeking further business matching opportunities.“MATRADE really does make a difference, especially when you belong to such a niche market like the medical furniture industry,” says Founder and Managing Director, Lim Kon Lian.
LKL Advance Metaltech Sdn BhdNo 3, Jln BS 7/18,Kawasan Perindustrian Bukit Serdang,Seksyen 7, 43300 Seri Kembangan,Selangor Darul Ehsan, MalaysiaEmail (General) : [email protected]
INNOVATION LEADS ACHIEVEMENTS IN LKL
LKL has won many achievements and awards in the past years that speak for its quality, innovation and prod-uct assurance. Among the accolades added to LKL’s cap include The Brand Laureate Award, SME Award, SMB Award and 1Malaysia Enterprise Award.Recognition of LKL’s innovative work and products is simply another stepping stone for the company to achieve greater heights in the business, as they continue to expand into more countries this year forth.While LKL focuses on the need to raise the overall quality of patient care in health-care institutions, all products designed are done so with enhancing the aesthetics of these innovations to ensure they assist in reducing the workload on patients and carers alike.In recent times, LKL has incorporated the use of RFID tags to raise the bar in their bedside locker. Us-ingRFID technology has given an edge to LKL products, as it allows for clients to ensure that there will be a sense of security and personal touch to their institution’s furni-ture. “Technology advances so fast, we must keep up with it. But what’s more important is that we use it to improve and extend the existing lifespan of medical furniture as we know it. That’s the key in innovating a product,” says Lim
Save the Date...ASEAN-OECD Conference And Meetings On Good Regulatory Practice
The government of Malaysia, as the 2015 Chair of ASEAN together with the Organisation for Economic and Co- operation Development (OECD) as its knowledge partner will host three events on 9-12 March 2015 to assist embedding Good Regulatory Practice (GRP) across ASEAN in 2015:
Monday 9 March 2015: ASEAN- OECD Centres of Government Meeting (by invitation)
Hosted by the Chief Secretary to the Government of Malaysia, this high level meeting will focus on the role of GRP to drive more responsive public administration. The meeting will bring together the Heads of Public Administrations, Prime Minister’s Offices, Cabinet Secretaries, and Secretaries-General of the Government from across ASEAN and OECD countries.
Tuesday 10 – Wednesday 11 March 2015: ASEAN-OECD GRP ConferenceThe conference will provide a high-level platform to initiate a broader agenda on GRP within ASEAN that can support closer intra- and inter-regional connectivity and economic integration. The conference will bring together government officials and regulators from ASEAN Member States (AMS) and OECD countries, representatives of business and civil society, academia, regional and international organisations.
Thursday 12 March 2015: ASEAN-OECD Good Regulatory Practices Network Meeting (by invitation)Chaired by Malaysia and New Zealand, this meeting will provide a government-to-government discussion on advancing the GRP agenda nationally as well as regionally. The meeting will bring together senior officials responsible for GRP initiatives in individual AMS, with the support of OECD peers.
For further information please contact: [email protected]
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MITI ProgrammeEconomic Wrap Up 2014, Sasana Kijang BNM
26 FEBRUARY 2015
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MITI ProgrammeASEAN Economic Minister’s Retreat,
Kota Bharu Kelantan28 Feb - 1 Mac 2015
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MITI Weekly Bulletin | www.miti.gov.my
“DR
IVIN
G T
ransformation, P
OW
ERIN
G G
rowth”
MITI Weekly Bulletin | www.miti.gov.my