Bet You Didn't Know These 10 Things about Malaysia
Think you know home pretty well? Be prepared to be shocked. Let’s see how many out of 10 you did know (I doubt it).
1. Malaysia has the 26th largest GDP in PPP (Purchasing power parity) terms worldwide!! This means that accounting exchange rates and for differences in living costs from one country to another makes Malaysia the 10th largest economy in all of Asia!! (As if we need any more reminder that £1 = RM5.70…)
2. The central bank of Malaysia, Bank Negara, has a very strong reputation globally. Its outgoing governor of 16 years, Tan Sri Zeti has consistently been ranked as one of the best central bankers in the world, earning an A-rating for many years consecutively from analysts. So to all of you aspiring economists and market regulators, don’t worry about applying to the Bank of England, just go back to Malaysia-lah!!!
3. Malaysia based IHH Healthcare Berhad is the world’s second largest healthcare operator by market capitalisation! With the presence of more than 30 large multinationals specialising in the manufacturing of medical devices in Malaysia, and government policy now focused on developing this sector, there is no shortage of opportunities for those of you passionate about improving the health of others!! Opportunities for start-ups?? YOU BET!
4. Given the awesome food and breath-taking natural beauty of Malaysia, it is not surprising that we are the 12th most visited country in the world and the leading tourist destination in ASEAN!! A staggering 27.4 million tourists visited Malaysia in 2014!! All this means that there is much potential for innovation in hospitality & tourism in Malaysia and you could be the one to do it!!
5. Surprise surprise!! Malaysia is now ranked 9th in the world for financial market development according to data from the World Economic Forum! So to all of you Investment Banking hopefuls, stop worrying about job prospects in competitive London, as opportunities at home are abundant and still growing! The potential for financial services in niche segments of the market are enormous! Seize them!!!!!!! NOW.
6. Always trying to outdo ourselves, it is not surprising, yet still truly remarkable, that Malaysia has been ranked 18th in the Global Competitiveness Index! Malaysia has steadily climbed up the rankings showing to the world that it has the potential to excel across a broad swathe of measures. It is now the 6th highest ranked Asian country, even outperforming the likes of Australia and France!! MALAYSIA BOLEH!!
7. Malaysia is home to some of the largest shopping malls (Gross Leasable Area) in the world with the likes of 1 Utama (6th largest!!), Berjaya Times Square (18th largest), Sunway Pyramid and many others.It is therefore not surprising that the Global Retail Development Index ranks Malaysia as the 9th most attractive location for retailers globally!! Growth opportunities in this sector are infinite, given the love for shopping in Malaysia for both locals and tourists, and hence this presents yet another exciting industry you can apply your skills to!!
8. Khazanah Nasional, the national sovereign wealth fund is the 26th largest entity (assets under management) of this nature in the world whilst the Employee Provident Fund (EPF) is the 13th largest pension fund in the world!! With the presence of a whole alphabet soup of mutual funds, Real Estate Investment Funds, Money market funds and other investment entities aspiring investment professionals and asset managers shall always be in demand!!
9. Petronas, the national oil company is the highest ranking ASEAN company on the Global 500 list compiled by Fortune magazine annually. Its 68th place means that it is one of the largest companies globally in terms of revenue!! Its business interests lie in a wide spectrum of petroleum activities meaning there is ample opportunity for individuals with varying skill sets to apply themselves. The petroleum industry is well represented in Malaysia hence the variety of jobs in this industry!
10. Bonia, British India, Lewre, Jimmy Choo, Flipper and others are in fact Malaysian based companies with Malaysian founders! Success truly does come in many ways in Malaysia! So make that leap if you have that idea and you may just be rewarded tenfold! Malaysians always have and will continue to reward good ideas!
Now that you’re enlightened by these facts, we hope you put them to good use! Come to Corporate Luncheon 2016 on the 2nd April for more to add to the list. ;)
TASHVIN SINGH GILL
is an executive in the International Initiatives office.
Tashvin is crazy about fitness and describes himself as a life long learner. He's currently studying at UCL and aims to be a consultant in the future