Chinese Malaysians optimistic about economic outlook

16:29, August 18, 2010      

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Malaysians, particularly the Chinese business community, are cautiously optimistic about the economic outlook of the country for three consecutive years ending 2012.

The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) made this remark in its survey report on economic situation of Malaysia for the first half of 2010 released here on Wednesday.

According to the report, 64 percent of the respondents said that they were optimistic, or somewhat optimistic about the country's economic outlook in 2010, compared to 60 percent in the first half of 2009.

The percentage of respondents expressing such optimism increased to 70 percent and 74 percent respectively when asked about the outlook in 2011 and 2012.

The ACCCIM represents more than 28,000 Chinese businessmen and trade associations in Malaysia.

As most of the prominent Chinese businessmen are the committee members of the ACCCIM, they can be taken to represent the Chinese business community in the country.

The total questionnaires sent were 670, while 44.2 percent or 296 questionnaires were returned.

On factors affecting business performance in the country, the ACCCIM report said that 49 percent of the respondents had cited government policies as the most important one.

"This is not surprising as private sector initiatives remained lackluster, especially in 2009 and hence, there has been greater reliance on the government's fiscal stimulus to push the Malaysian economy," said the report.

While 36 percent of the respondents perceived manpower shortage as a problem, 33 percent noted that the increase in operating costs and prices of raw materials had also affected business performance.

Other factors included domestic competition (30 percent), management style (26 percent) and lack of capital (26 percent).



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