Malaysian Chinese still upbeat on economy?

KUALA LUMPUR - The local Chinese business community remains optimistic - albeit cautious - about the economy in the next two years despite a global slowdown in the first six months of the year.

In a survey by the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), 59% of the businessmen expressed confidence in their business outlook for next year while 62% were confident for 2013.

The survey also suggested that more businessmen perceived the economic slowdown, including in Malaysia, as temporary and that the situation would improve in the coming years.

Close to half of the respondents also cited government policies (46%) and domestic competition (40%) as the major factors affecting their business performance in the first half of the year.

The other two factors were an increase in operational and raw materials costs (38%) and manpower shortage (31%).

"Given the increasingly uncertain global economy, Malaysian businesses continue to look to the Government to accelerate implementation of public development projects that can spur greater economic growth to ensure our domestic demands remain strong," said ACCCIM president Tan Sri William Cheng.

The report was presented by commerce committee chairman Dr Leong Kai Hin at the Wisma Chinese Chambers here yesterday.

The association, comprising over 100,000 businesses, also found 66.8% of its respondents to be against the National Wages Consultative Council Bill 2011, which was passed by Parliament in June.

Most of those who expressed concern over the Bill were from the international trade, tourism, manufacturing, wholesale and retail trade, and agriculture, forestry and fishery sectors, and they were worried about the minimum wage being "on the high side".

The survey also found that the recent fuel subsidy reductions and the Kedai 1Malaysia initiative were unpopular, as over 30,000 sundry shop owners nationwide had been affected.

However, the Government's newly-launched housing initiatives - the My First Home financing scheme and 1Malaysia Housing Programme - had been well-received.

"It is important for the Government and the private sector to understand each other. We (businessmen) should preferably not be involved in politics but we will show support to the Government (of the day)," Cheng said in response to a question on confidence in the Barisan Nasional government.

Shepherd brings up the question of whether trade could have previously gone undetected.

Both Traffic and Perhilitan suspect the owls, along with the other wildlife confiscated, were due for export, probably to China which, despite local and international laws, has a thriving trade in endangered wildlife.

Malaysia is both an attractive supply and transit country, and many of the species found including pangolins and bear parts for example, are popular in the meat and traditional medicine markets of China, especially in Guangzhou.

There, an increasingly affluent population is fuelling demand for endangered wildlife traditionally regarded as culinary delicacies.

- Asia One