6pc Growth Rate Not Unrealistic Target

Malaysia’s plan to achieve a 6 per cent economic growth rate yearly from 2006 to 2010 is ambitious but not unrealistic, says Professor Danny Quah of the London School of Economics and Political Science (LSE).  The 9^th Malaysia Plan (9MP) had projected that kind of growth for the five-year period compared with 4.5 per cent in the previous five years.  “I think 6 per cent is not unrealistic,” he told reporters yesterday after his luncheon talk, which was organised by the Kuala Lumpur Business Club.  The Penang-born professor is set to become the LSE’s head of the economics department in August.  Asked to comment on the 9MP, he said he was struck by how ambitious it was, adding however that it was “ambitious in all the right ways”. 

The key to the 9MP’s success would be getting it implemented properly, as the RM220 million allocation is not that massive a budget, he said.  “I think that however a critic might want to fault the possibilities for implementation failure, I quite applaud how the 9MP seems to touch on the right bases,” he said.  It would be quite a coup for Malaysia if it managed to bring down its fiscal deficit from 3.9 per cent of the gross domestic product to 3.4 per cent in 2010 as targeted.  He sees no problem with Malaysia continuing its fiscal deficit at that level henceforth, as it is still well within the “comfort zone”.  Most other countries are running fiscal deficits much larger than that, he pointed out.  “It is good to have a little bit of government debt out there.  It deepens financial markets and people earn an appropriate rate of returns.  It does not draw down national welfare to have government debt outstanding.  It improves the borrowing and lending possibilities,” he added.

(Source:  Business Times, 6 April 2006)

Malaysia Likely To Sustain Growth Momentum, Says Bank

The Malaysian economy is likely to sustain its growth momentum, expanding 5.5 per cent this year and 5.8 per cent in 2007, the Asian Development Bank said in its outlook 2006 report.  Forward-looking indicators such as the leading composite index and the US new orders index, which generally lead Malaysia’s business activity by six months, suggest stronger growth, it said yesterday.  Robust growth in China and the US, plus a strengthening in global electronics demand, is also assisting Malaysia’s manufacturing sector.  “Domestically, robust consumer spending, an expected pickup in private investment, and higher government expenditure related to the start of the Ninth Malaysia Plan (9MP) will all provide further support,” it said. 

The forecast, which assumes that fiscal policy will continue to consolidate and that the monetary policy is accommodative, is also supported by an 8 per cent rise in planned manufacturing investment.  ADB said the increase in the prices of petroleum, diesel, and liquefied petroleum gas by about 20 per cent in February, plus an expected lift in electricity charges, will maintain upward pressure on inflation.  ADB listed manufacturing and services as the engines of growth.  Manufacturing output is projected to scale up by 5.5 per cent in 2006, while the services sector, which accounts for about half of the economy, is forecast to grow by 6.6 per cent.  While agricultural growth is likely to decelerate because of expected lower production of palm oil after a bumper harvest in 2005, mining will be bolstered by new oil and gas fields coming on stream, it said.

ADP expects construction to post mild recovery in 2006, with new infrastructure projects under the 9MP outweighing a moderate slowdown in residential construction.  The ringgit exchange rate, which strengthened by 2.6 per cent in the eight months after the managed float was adopted in July last year, is expected to appreciate further, supported by rising interest rates.  In its medium-term outlook, ADB estimates that annual economic growth for Malaysia between 2006 and 2010 will average 5.5 per cent, given the low investment rate.  “The target of reducing the fiscal deficit to 3.5 per cent of GDP in 2006 and to 3 per cent in 2007 looks achievable.  The challenge for fiscal policy is to gradually shrink the deficit without derailing economic growth,” ADB said.  It said Bank Negara has room to raise interest rates still further to combat inflation and to maintain positive rates.

(Source:  Business Times, 7 April 2006)

Manufacturing To Grow 6.7 Per Cent

The manufacturing sector is expected to grow at an average rate of 6.7 per cent per annum during the Ninth Malaysia Plan (9MP) period, said International Trade and Industry Minister Datuk Seri Rafidah Aziz.  She said the share of manufactured to total gross exports would expand to 83.4 per cent in 2010 from 80.5 per cent in 2005, while exports of manufactured goods would register an average annual growth of 9.3 per cent.  “The Third Industrial Master Plan (IMP3) to be launched in June will dovetail the 9MP, and ensure that the mission set out reaches fruition,” Rafidah said in addressing the public and private sectors at the annual dialogue yesterday. 

The IMP3 is a 15-year rolling plan for the integrated development and services sectors.  She said 12 sub-sectors had been targeted for further development and promotion, including electrical and electronics, petrochemicals, pharmaceuticals, medical devices, textiles and apparel, transportation, machinery and equipment, metals, wood-based products, rubber and rubber products, oil palm-based and food processing.  Rafidah said besides manufacturing, the Government would also be focusing on the development and promotion of the services sector.  Among the targeted growth areas are business and professional services, distributive trade, construction, education and training, tourism, health services, logistics, as well as information and communications technology. 

In 2005, manufacturing continued to be a major contributor to economic growth, accounting for 31.4 per cent of the gross domestic product, against 31.6 per cent in 2004.  Manufacturing was also one of the fastest growing sectors after services, with 4.9 per cent growth versus 9.8 per cent in 2004.  exports of manufactured goods grew by 9.6 per cent to RM413.1bil last year, accounting for 77.4 per cent of total exports, and approval investments in the same sector totalled RM31.1bil.  Rafidah said Malaysia had commenced bilateral negotiations on Free Trade Areas (FTAs) with Australia, New Zealand, Pakistan and the United States.  On the regional front through Asean, it was negotiating FTAs with South Korea, Australia, New Zealand and India, she added.

(Source:  The Star, 18 April 2006)

High Copper, Aluminium Prices Hurt Cable Makers’ Earnings

The escalating prices of copper and aluminium have seriously hurt earnings of cable manufacturers in the country.  More than 20 local cable manufacturers who are members of the Malaysia Cable Manufacturers Association are expected to see a fall in their earnings this year as a result of rising prices of the two raw materials.  Manufacturers who have inked long-term contracts with buyers are likely to report losses for their current financial years.  About 65 per cent of a cable manufacturer’s cost of production comes from the purchase of copper or aluminium. 

Copper prices have surged by more than 100 per cent to US$8,000 per tonne last Thursday from US$3,328 per tonne in the first half of last year.  Local cable manufacturers have to compete to get contracts to supply their cables to the market, which is dominated by two major buyers, namely Tenaga Nasional Bhd and Telekom Malaysia Bhd.  The two buyers, which consume about 70 to 75 per cent of the cables, buy from a consortium of manufacturers.  Other cable manufacturers will have to compete for the remaining business in the local market. 

Malaysian Cable Manufacturers Association president Datuk Dr Abdul Razak Abdul said the impact of the soaring copper price can be reduced if cable manufacturers work in a group to create economies of scale.  “Manufacturers should look at new ways and approaches in doing business rather than rely on the Government for any form of subsidies.  If the bulk of cables are heavily consumed by Tenaga and Telekom, the manufacturers will have to change their ways of doing business and look for new markets.  We should not be competing, but should work as an entity and create economies of scale to survive,” he told Business Times. 

One of the ways to ease the problem is to sell the products for payment in cash.  “Most manufacturers now go for cash purchase.  If there’s no cash, they will not produce because nobody knows how much more the prices of aluminium and copper will increase.  Definitely, there’re no more long-term contracts,” he said.  The price of aluminium, which has similarly increased, further drags down the earnings of local cable manufacturers.  It surged by about 70 per cent to more than US$3,000 per tonne from US$1,844 per tonne in the first half of last year.    

(Source:  Business Times, 15 May 2006)

MEMBERS NEWS

Royal Selangor Goes Into Interior Design

Royal Selangor Marketing Sdn Bhd, in its aim to further expand its business portfolio and product offerings, has ventured into interior architecture.  “We have undertaken small home and corporate projects through direct dealings with architects,” said sales and marketing manager Yong Yoon Li.  He was speaking to the media after the company unveiled its Spring 2006 Collection yesterday.  Yong said the move was a natural progression for Royal Selangor after it developed metalesce – a technique that fuses a coat of metal onto substrate material such as tiles, wood and plaster.  The technique could also be applied on large surfaces and objects.  “This technique allows us to work not only with pewter, but also other metals and alloys to produce large feature walls, furniture and fittings, signages and sculptures using a variety of metals,” he said. 

The metalesce technique was jointly developed by Royal Selangor and an Australian company over two years.  Meanwhile, Royal Selangor has introduced five new ranges under its Spring 2006 Collection.  The included two ranges of photo frames, Palladio and Plasma, a children’s collection themed The Ark, new designs to the existing Plus range and a new line of wearable accessories called Mojo.  Yong said the company’s wearable accessories, introduced six months ago, had been well received by young consumers.  He was confident that Mojo would build on the success of the Plus collection of wearable accessories introduced last fall.  Yong added that wearable accessories sold twice as fast compared with Royal Selangor’s established products.  He attributed this to the company’s ability in creating innovative lifestyle consumer products.

(Source:  The Star, 5 April 2006)

Royal Gift

Say thank you to your mum this Mother’s Day with Royal Selangor’s Mother’s Day bundles – Flame, Inspired, Admiral, Classic, Celtic and Vanity.  Each bundle features delicate items, which your mother will cherish and a RM50 Energy Day Spa voucher.  To make this coming Mother’s Day even more memorable, 13 Royal Selangor outlets in the Klang Valley will be holding a special promotion from April 28 till May 21 for a chance to win that deserving pampering spa programme for your mother.  With each purchase of a Royal Selangor Mother’s Day bundle at these outlets, customers are eligible to participate in lucky draws and stand a chance of winning a pampering Rosemary Package from Energy Spa worth RM565 for their mothers.  The lucky draws will be held at the Royal Selangor flagship store in Suria KLCC on May 8, 15 and 22.  The Royal Selangor outlets participating in this Mother’s Day promotion are located in Subang Parade, SS2, Sunway Pyramid, 1-Utama Shopping Centre, KLCC, MidValley, Starhill Gallery, Lot 10, The Curve, BSC, M&M’s in Shah Alam and the Royal Selangor Visitor Centre.

(Source:  The Star, 28 April 2006)

Medals Great Collectibles

With the Petaling Jaya municipality turning into a city on June 20, the medals of the upcoming PJ Half Marathon 2006 will surely be a great commemorative collectible to have.  Made of pure Royal Selangor pewter, the medals will be engraved with words indicating the attainment of city status by PJ.  It is also the last time that the design of the medals will be used in the run, which has become one of Klang Valley’s most popular marathons since its inception in 1984.  “This will be the last year you have the regular design.  Next year, we intend to work with Royal Selangor on making new designs for the medals,” said Star Publications Bhd marketing services senior manager Iris Tan.  She said it was rare to see 13 champion trophies and 566 medals – all made of pewter – to be presented to winners in a single marathon event. 

In this event, about 5,000 runners are expected to turn up to take part in a total of 13 categories.  Organised by the Petaling Jaya Municipal Council, Selangor Amateur Athletic Association and The Star, the event is aimed at cultivating a healthy lifestyle and the love for sporting activities among Malaysians.  Royal Selangor corporate sales manager Chen Tien Yue, who will be participating in PJ Half Marathon this year for the first time, said:  “Marathon is a healthy activity and PJ Half is one of the biggest events which had been regularly featured in the calendar of sporting events.  It is good (for Royal Selangor) to be involved in the big ones.”  Royal Selangor communications manager Anne Leong said the chance of collecting medals is one of the main reasons for runners to participate in marathons.  “If you get a plastic medal, then it will be quite disappointing.  But this year, all the medals give out are made of pewter,” she said. 

The run will be held on June 18 at Petaling Jaya Stadium in Kelana Jaya, in conjunction with the proclamation of PJ as a city.  The categories for the marathon are the men’s open (18 years and above), men’s veteran (40 and above) and women’s open (18 and above).  The 10km run has five categories – men’s, men’s veteran, boys (13 to 17), girls (13 to 17) and women’s.  The 5km run comprises the men’s veteran (40 to 49), men’s senior veteran (50 and above), women’s veteran (35 and above), men’s special (wheelchair-bound participants only), women’s special (wheelchair-bound participants only) and team (18 years and above) categories.  Adults and children can take part in the 3km fun run. 

(Source:  The Star, 28 April 2006)

Pewter Hits The Wall

“For a company that is 120 years old, we have been unusually focused where material is concerned,” says Chen Tien Yue, corporate sales manager of Royal Selangor.  He is also the great-grandson of founder Yong Koon Seong, one the six working for the family firm.  His mother and her three siblings sit as directors in the company.  Although Royal Selangor’s core business is the manufacture of pewter products, it has also been pliable enough.  The brand, represented in 20 countries worldwide, is definitely not trapped in a time warp.  Its designers are continuously pushing the envelope.  Its business model is constantly branching out in ways unexpected.  This has kept it afloat at times when many family-run businesses have had to close.  “We’re still making things that people use at home.  What has changed is how we go about doing these things,” says Chen, 28.

It’s also about creating new applications with the material which it is so familiar with.  Its latest foray into interior architecture, for instance, is a classic example of how Royal Selangor reinvents itself every now and then.  The company has been producing solid pewter wall tiles for about five years now but the project did not take off as a 15x15cm piece costs between RM75 and RM100.  “It was priced high because of the cost of the material.  But about a year ago we arrived at a solution with our principal in Australia.  Metalesce is a technology as aluminium, brass, bronze, copper, nickel and zinc with pewter for different effects, colours and applications,” he says.  A 15x15cm size tile now costs RM25 while a 30x30cm piece is RM60.

The various metals can also be layered or “aged” for different effects and a skin of metal, originally in liquid or powder form, can be fused onto a substrate or underlying material such as wood, resin, glass or concrete.  A surface impossible to adorn with a sheet of metal – unless if you cast it solid – such as a wavy wall, a sculpture or even a ball, for that matter – can now be “metalesced”.  “If there were many limitations earlier, now we can do a lot more with this technology.”  So besides that Camelot chess set, Gandalf Goblet and the koi plaque you cherish so dearly, pewter fans can now install Royal Selangor tiles, decorative panels, feature walls, doors, door handles, sculptures etc.  But don’t expect to see these items at Royal Selangor stores.  “These things don’t fit into our stores.  We deal directly with architects and interior designers.”  According to Chen, the idea to branch out and to do doors and walls with pewter was long coming.  “We’ve always felt that we have the potential to do interior architecture as we have strong design and sculpting expertise going way back in history.”

In the past, the Yong family often had to think outside the box – sometimes creating merely functional objects and at other times items with purely aesthetic value.  When Koon Seong arrived in Malaya in 1885, he joined his two brothers who came here earlier as tinsmiths.  They lived and worked at No. 23, Cross Street (Jalan Silang now), making household items such as pails, gutters and weighing scales.  But on the side, they created pewterware that proved popular with Chinese migrants, such as incense burners, joss-stick holders and candle stands.  At that time, rubber was also becoming a big export commodity.  The brothers saw an opportunity for making thousands of small zinc spouts for attaching to the tree trunks to funnel the latex into a waiting cup.  When pewter sales were sluggish they produced utilitarian items such ashtrays, vases and teapots that were picked up by the British.  During the Japanese Occupation, Koon Seong’s three sons made sake sets as gifts for Japanese military officials.  This ensured a small supply of tin, a controlled commodity then.

Today, one of their more popular products, especially in the West, is drinkware, particularly wine accessories and gifts for children, popular giveaways during christenings.  “We also had to think about related businesses compatible with the Royal Selangor brand.  In the 70s, we started the jewellery company Selberan,” Chen says.  Along the way it acquired other pewter businesses such as Englefields, a 300-year-old London pewterer and maker of Crown & Rose pewter, and Seagull Pewter of Canada as well as London silver company Comyns. 

Chen is an engineering, economics and management graduate from Oxford University.  Before Royal Selangor he was a business analyst at McKinsey & Co, Malaysia, and at Shell International, London, as a risk management trainee.  He was never forced to work for the family business, he says.  “We were all encouraged to do our own things and everybody did well in their own fields be it design or IT.  And at some point we decided, ‘OK, we’ll give the family business a try’.  And it’s great because everyone is contributing in their own way.”  Yet, he admits, it’s an added responsibility working for the family business, especially one with such a long history.  “We have to preserve it, to continue what has been carefully created and take it to new levels.  There are a lot of pros and cons too.  You really take work home.  It’s your life.  You can’t switch off.  Even on holidays all the relatives are talking about work,” he says.  “But I suppose we believe in what we’re doing.  It’s a passion we all share.”

(Source:  New Sunday Times, 11 June 2006)

Henkel – A Driving Force In The Racing World

Around the world, Henkel has an extensive commitment to motorsports.  In 2004, the Henkel logo appeared for the first time on the rear-wing of the Team McLaren Mercedes race cars, thereby continuing the technical association with the team, which began in 1995 through the Loctite brand.  As Official Supplier, Henkel provides a wide variety of innovative solutions to the team.  Nearly 200 different applications of Henkel products have been incorporated into the Team McLaren Mercedes MP4-21 for its challenge in the 2006 FIA Formula One World Championship in North America, Henkel’s NASCAR sponsorships include several brands with Roush Racing and driver Carl Edwards.  For the three-week, 10,000-kilometer 2006 Dakar Raid through grueling desert terrain, Henkel provided each racing team with an essential mechanical emergency kit containing a wide range of adhesives, sealants, maintenance products, cleaners and bonding tapes.

Henkel, a Fortune Global 500 company, operates in three strategic business areas: Home Care; Personal Care; and Adhesives, Sealants and Surface Treatments, which serves the transportation, electronics aerospace, metal, durable goods, consumer goods, maintenance and repair and packaging industries, and offers a broad range of products for the craftsman and consumer.  With brands and technologies, Henkel makes people’s lives easier, better, and more beautiful.  More than 50,000 employees work for Henkel worldwide.  People in 125 countries around the world trust in brands and technologies from Henkel – ‘A Brand like a Friend’.

Team McLaren Mercedes

As an Official Supplier to Team McLaren Mercedes, Henkel works closely with the team in a continual transfer of innovation and insight toward achieving the best possible performance and process efficiency in nearly 200 applications of Henkel products and technologies.  Many of these applications are securing bolted connections with a broad range of Loctite brand adhesives, each with different chemistries and properties to cover a diversity of constraints.  Typically, the higher the strength of the threadlocker, the greater is its resistance to withstand extreme forces, such as the heavy shocks, constant vibration and high temperatures to which Formula One car components are subjected.  Among various grades of high, medium and low-strength adhesives, the specific Loctite product to be used for each application is cited in the assembly specifications of the car.

Innovation Drives Quick Change

Such meticulous information may seem minor, but it pays off not only in reliability but also efficiency in assembling a car that undergoes continual component modifications and replacements.  For the 2006 season, Team McLaren Mercedes completely redesigned 90 percent of its car’s components.  And the change does not stop there:  during the course of any given race season, engineers may redesign and change out as much as 75% of the car’s components.

A new development at Henkel is helping the team solve a long-standing assembly challenge: securing components with an adhesive that is strong enough to withstand extreme conditions yet still allows for easy disassembly and re-use of components.  Henkel’s U.S.-based R & D team created an optimal solution by enhancing the medium-strength threadlocker range with Loctite 246 – a product that exhibits superior resistance to high temperatures despite its medium-grade strength.  McLaren Racing engineers are testing the product in applications on removable parts such as the driveshaft, brake-pad abutment screws and suspension.  The advantage is that engineers can replace parts easily using standard hand tools during a race weekend or at test sessions – without having to scrap the parts after removal and with the assurance that the replacements will hold fast for the duration of the race.

Formula One Technology Transfer

To decide exactly which Loctite product to use for any particular application, McLaren Racing engineers have relied until now on data sheets listing each product’s strength and “cure” (hardening) speed, as referenced on standard materials such as mild steel.  Today, McLaren is working with Henkel to gather detailed data on Loctite adhesives in combination with the various materials such as titanium, high-grade stainless steel and carbon fibre used in constructing the Team McLaren Mercedes MP4-21.  McLaren Racing engineers are generating the test pieces for technicians at Henkel’s labs in England to carry out more than 5,000 specific tests to produce new data on a range of Loctite adhesives – information that will soon be available for McLaren Racing as well as for Henkel customers include using Loctite adhesives on the same types of exotic materials in fields as diverse as electronics, automotive, aerospace, machine building and medical devices.

Our engagement with Team McLaren Mercedes allows us to continually prove and refine Henkel products under the extreme conditions of Formula One racing.  It also underlines the way Henkel helps change the way people do things for the better.  In addition to supplying innovative and reliable products, Henkel serves as a development partner, offering solutions based on extensive know-how of our customers’ businesses, demands and processes.

About McLaren

McLaren Racing, the company behind the Team McLaren Mercedes team, was formed in September 1980 as a result of a merger between Team McLaren and Project Four, a British company owned by Ron Dennis, now Chairman and CEO of the McLaren Group.  McLaren has won eleven Formula One Drivers’ Championships and eight Formula One Constructors’ Championships including the 1998 and 1999 Drivers’ World Championship.  McLaren has competed in Formula One since 1966 and has proven to be one of the most successful Formula One teams of all time with 148 Grands Prix wins.  To date McLaren has raced in 607 Grands Prix.

Lightning never strikes twice

Henkel (Malaysia) Ipoh (HMI) is once again honoured and privileged to be recognised for its seriousness in its commitment to reliable and responsible environment policies and practices, thus marking it a forward-thinking organisation, by being awarded the Notable Achievement in Environmental Performance and also the Perak State Award.

There were a total of 52 participating companies out of which 8 were from the Perak State.   Only HMI emerged triumphant in one of the most challenging and scrutinising audits.  In total, only 25 participants, less than 50%, were being awarded the prestigious PMHA.

The Notable Award was received by the project champion, Ms. Wu Yoke Khuan while the Perak State Award, presented by the Deputy Prime Minister of Malaysia, was graciously accepted by HMI General Manager, Mr. Jason Lee.

“Winning the first time was very tough.  Winning it the second time round was even tougher since the qualifying prerequisites have been continuously upgraded with many new regulations to adopt”, says Mr. Lee.  “However, this two-time achievement debunks the saying, “lightning never strikes twice” and proves HMI’s dedication, not being only a world class manufacturing plant but also a responsible corporate citizen, in the same breadth as other multinationals like Shell, Intel, AMD, BASF and Motorola.”

ASSOCIATION NEWS

Association’s 16th AGM on 26th June 2006

The Association held its 16^th AGM on Monday, 26^th June 2006 at the Secretariat.  At the AGM, a new set of office-bearers was elected, comprising President, Mr. Mamoru Kawasaki of Selayang Solder Sdn Bhd, Vice-President, Mr. Teoh Lay Hock of Nihon Superior (M) Sdn Bhd, Honorary Secretary, Mr. C. S. Lim of Metal Reclamation (Industries) Sdn Bhd and Honorary Treasurer, Mr. Jason Lee of Henkel (M) Sdn Bhd.  The AGM was followed by the Association's Annual Luncheon.

Below is the Address delivered by the out-going President, Mr. Jason Lee at the 16^th AGM.

“Ladies and Gentlemen,

The Association’s Annual Report for 2005 has been circulated, and as you are aware, it provides an overview of the activities of the Association during the year.  This Presidential Address, however, will touch on the current development and future prospects of the tin based product-manufacturing industry, both locally and globally, including the directions and events that are expected to emerge for the economy, industry and the Association in the near future.

The Malaysian economy was robust during the year 2005.  Real GDP grew by 5.3 per cent due to a rebound in the manufacturing sector, stronger consumption and resilient investment.  The nation’s exports strengthened sharply towards year end largely due to a significant pick-up in the global semiconductor and electrical and electronics sectors in the second half of the year. 

Manufacturing continued to be a major contributor to Malaysia’s economic growth in 2005 accounting for 31.4 per cent of GDP, and the export of manufactured goods grew by 9.6 per cent to RM413.1 billion which accounted for 77.4 per cent of total exports.  The manufacturing sector is further expected to grow at an average rate of 6.7 per cent per annum during the period of the Ninth Malaysia Plan, and the share of manufacturing to gross exports is expected to reach 83.4 per cent by 2010 from 80.5 per cent in 2005.

The electronics sector saw a global upswing due to increased electronics demand towards the end of 2005.  The fastest growing major end markets continued to be personal computers, cellular telephone, digital cameras, digital televisions and MP3 players.  Prospects for this sector are favourable.  The Semiconductor Industry Association, which is the leading voice of the sector, has forecasted a global annual growth rate of 10 per cent between the period of 2005 to 2008.  Worldwide chip sales are estimated to reach US$309 billion by 2008, which is an increase of 45 per cent from the US$21.3 billion recorded in 2004. 

The prospects for the Malaysian economy in 2006 remain favourable.  Bank Negara Malaysia forecasts that the economy should strengthen further to an estimated 6.0 per cent this year, driven by stronger exports and sustained domestic demand.  The global semi-conductor up cycle, resilient global growth and high commodity prices are expected to provide positive effects to exports, private consumption and investment.

Ladies and Gentlemen,

On the home front, the Association has again been busy with its activity programmes during the year such as the publication of the Association’s Newsletter called “The Malaysian Tin Products” which has continued to improve in form and substance.  The Newsletter remains a key medium for communication, publicity and public relations, and serves not only to disseminate information but to also express views and opinions with regards to the industry.  It is a platform for the exchange of ideas, knowledge and expertise towards the further enhancement and development of our value-adding, resource-based products manufacturing industry. 

Herewith, I would like to reiterate my invitation as I did in previous years, for the full support from all Association members towards the Newsletter to enable it to continue to sustain its influence, value and relevance.  Your support is invaluable, be it in contributing articles regarding your company, business operations and other topics that are newsworthy to our readership, or in taking up advertising space to help defray publication costs.  The publication offers an excellent medium to advertise your company, its products and services at a low cost. 

Ladies and Gentlemen,

As is customary in this annual Presidential Address, let me on behalf of the Association offer our gratitude to those Ministries and Government Agencies that have continued to lend us support.  Our thanks to the Ministry of Natural Resources and Environment, the Ministry of Human Resources, the Ministry of International Trade and Industry, and the Ministry of Home Affairs for their co-operation and understanding.  Also, our grateful thanks to the Tin Industry (Research and Development) Board for providing invaluable secretariat assistance and administrative support ever since the Association's formation in 1990.

As I will be stepping down as President after today’s AGM, may I personally thank all members of the Association, especially the Management Committee and its various Sub-Committees, for their commitment and unrelenting support given to me during my three years in office.  I also wish to take this opportunity to offer my sincere thanks to the Secretariat staff for their unrelenting hard work and dedication.

Finally, I wish everyone prosperous and productive business dealings in the years ahead, and as always, please give your loyal support to the Association and its activities.

Thank you.”