The Perdana Leadership Foundation Business Roundtable took place at The Majestic Hotel on 28th August 2024. The exclusive Roundtable was attended by business leaders, corporate chairs and directors, and senior officials from organisations that included PETRONAS, Ambank, Kuala Lumpur Kepong, MSM Malaysia, Northport (Malaysia), CIMB, DRB-HICOM, Gopeng Berhad, InvestKL, Malaysian Rubber Glove Manufacturers Association (MARGMA), as well as various Ministries. The objective of the Roundtable was to facilitate dialogue on issues of business and economic concern and gather feedback on economic policies, especially in view of Budget 2025.
“Today is the opportunity for us to share our perspectives on the factors that are of concern to us, that we hope will be of concern as well to the people who are directing our economic policies and drafting our regulations. A nation’s economic growth is very much like a tandem bike, with both public and private sectors pulling in the same direction, and we continue to be fortunate in having a business-friendly government,” said Tan Sri Azman Hashim, Chairman of the Board of Trustees, Perdana Leadership Foundation, in his welcome remarks.
The keynote address on The General Direction of the Malaysian Economy and the ASEAN Region was delivered by Tan Sri Andrew Sheng, Distinguished Fellow at the Institute for Capital Market Research Malaysia (ICMR). Drawing on his experience as a central banker and advisor to various financial institutions as well as on economic trends, Tan Sri Andrew stressed, among others, the need for Malaysia to fully utilise the power of AI and robotics, reduce reliance on foreign labour, and focus on strategic strengths to become highly competitive, regionally and globally. One of his calls to action was for business, academia, and the public sector to collaborate more closely together on policies as well as projects that can benefit the Malaysian economy.
Among his points were the need for key sectors to reskill and develop talent. “To stay competitive, we must invest in talent development and reskilling, particularly in AI. While Malaysia attracts foreign direct investment, we face critical skill shortages in engineering and labour for sectors such as retail, agriculture, construction, and plantations. Youth unemployment is also rising. Relying on cheap foreign labour is hindering wage growth and value-added progress.”
Tan Sri’s engaging keynote was followed by an active discussion, moderated by PLF Independent Trustee, Dato’ Sri Dr Vaseehar Hassan, where issues such as investment incentives, supply of talent, and research and innovation were brought up by the delegates. Tan Sri Datuk Yong Poh Kon, Board of Trustee of the Malaysian Institute of Economic Research (MIER), closed the Roundtable, his main point being “Malaysia stands at a critical juncture, with the potential for significant growth in the coming years—provided we seize the opportunities before us.”
This business roundtable was organised by the Perdana Leadership Foundation, an independent non-profit archive and leadership institution, with the Malaysian Institute of Economic Research (MIER), a respected national think-tank for economic policies in Malaysia, as the Strategic Partner. The event was held at The Majestic Hotel Kuala Lumpur, with venue sponsorship by YTL Corporation Berhad. Other sponsors for this roundtable include CIMB Group, Kuala Lumpur Kepong Berhad, AmBank Group, MSM Malaysia Holdings Berhad, and DRB-HICOM Berhad.
The event photo can be viewed [here].
We thank the programme sponsors, speakers, and delegates for supporting the Roundtable
For enquiries, please do not hesitate to contact the coordinators of the event:
Ms Maizatul at 03-8885 8965 (maizatul@perdana.org.my),
Puan Humaira at 03-8885 8960 (humaira@perdana.org.my),
Puan Isnani at 03-2142-0091 (isnani@mier.org.my).
