ID :
213123
Fri, 10/28/2011 - 05:47
Auther :
Shortlink :
https://oananews.org//node/213123
The shortlink copeid
ASEAN BUSINESSES URGED TO COLLABORATE
KUALA LUMPUR (Bernama) - The Asean business community should collaborate to create a regional identity and further explore uncovered opportunities, CIMB group chief executive officer Nazir Razak said.
"We can grow much more and one has to anticipate what the future looks like in terms of the nation's competitive landscape. We have a decent chance if we collaborate," he said in a press conference at the inaugural CIMB Asean conference here on Thursday.
He said most investors no longer ask about a single country but spot an Asean-region investment opportunity as a whole.
"We could see investors' perspective has shifted away from individual Asean markets to Asean as a whole," Nazir said, adding that many global banks in the country have already established an Asean sales desk and no longer have a Malaysia sales desk.
"Let's make the changes to avoid marginalisation," he said.
Meanwhile, Nazir said Asean countries should join hands to develop greater connectivity such as a fast train from Kuala Lumpur to Singapore, a bridge from Melaka to Medan, Indonesia and an eletriciticy grid.
He also pointed out Islamic finance's vital role in Asean economic
integration and its big potential, like saving on petrodollars currently deposited in Western countries.
"We (CIMB) would like to explore greater opportunities or intermediate those funds directly into the region," he said.
On whether Malaysia is ready for another financial crisis, Nazir said: "Malaysia is fundamentally strong just like many Asean countries, and thanks to the previous financial crisis, our reserve and banking system are extremely strong to weather another crisis."
In the meantime, he said, Malaysia is in a unique position as the government has reflected for a number of years on the need to support growth and foster private investment.
"If ETP (the government's Economic Transformation Programme) is successful we are very fortunate, it could significantly help to mitigate external effects," he said.
Earlier, Nazir said the group will launch its Asean Business Club on Friday and recruit members later.
"This will determine our capacity and what we can do, our tag line is "Asean is open for business," he said.
"We can grow much more and one has to anticipate what the future looks like in terms of the nation's competitive landscape. We have a decent chance if we collaborate," he said in a press conference at the inaugural CIMB Asean conference here on Thursday.
He said most investors no longer ask about a single country but spot an Asean-region investment opportunity as a whole.
"We could see investors' perspective has shifted away from individual Asean markets to Asean as a whole," Nazir said, adding that many global banks in the country have already established an Asean sales desk and no longer have a Malaysia sales desk.
"Let's make the changes to avoid marginalisation," he said.
Meanwhile, Nazir said Asean countries should join hands to develop greater connectivity such as a fast train from Kuala Lumpur to Singapore, a bridge from Melaka to Medan, Indonesia and an eletriciticy grid.
He also pointed out Islamic finance's vital role in Asean economic
integration and its big potential, like saving on petrodollars currently deposited in Western countries.
"We (CIMB) would like to explore greater opportunities or intermediate those funds directly into the region," he said.
On whether Malaysia is ready for another financial crisis, Nazir said: "Malaysia is fundamentally strong just like many Asean countries, and thanks to the previous financial crisis, our reserve and banking system are extremely strong to weather another crisis."
In the meantime, he said, Malaysia is in a unique position as the government has reflected for a number of years on the need to support growth and foster private investment.
"If ETP (the government's Economic Transformation Programme) is successful we are very fortunate, it could significantly help to mitigate external effects," he said.
Earlier, Nazir said the group will launch its Asean Business Club on Friday and recruit members later.
"This will determine our capacity and what we can do, our tag line is "Asean is open for business," he said.
