Malaysia
Basic information
- Area: 329,847 km²
- Calling code: +60
- Population (EST): 27,496,000
- Official language: Malay
- Time zone: MST (UTC+8)
Overview
Malaysia is situated in the South China Sea, between the Equator and the Tropic of Cancer, and it borders Thailand, Indonesia, Singapore and encloses Brunei. The country is made up of two separate regions, Peninsular Malaysia (West) and Malaysian Borneo (East), separated by the South China Sea, and it consists of 13 federal states. Modern Malaysia was formed in 1963. Figures published by the Malaysian Statistics Agency show the population of the country at just over 26.5 million. The Malaysian capital, Kuala Lumpur, is located in Peninsular Malaysia, nearly halfway between the Thai and Singapore borders, on the western side of the Peninsular, and it is rapidly becoming one of the most technologically advanced cities in the Far East.
Economy
According to the IMD World Competitiveness Scoreboard 2005, the economic competitiveness of Malaysia is relatively good when compared to others in the region: out of 60 countries and regions around the world, Malaysia was placed 28th, scoring better than a number of European economies. Whilst manufacturing has become increasingly important to Malaysia`s economy, agriculture, forestry and mining are still key to the overall economy. Malaysia`s extensive forests produce materials that are exported all over the world; the nation is among the top ten wood exporting countries. According to the Malaysian Rubber Export Promotion Council, Malaysia is the third largest exporter of natural rubber. Agricultural crops produced include cocoa, fruits and rice, while mining produces copper, iron and tin. Since the 1970s, Malaysia`s economy has moved increasingly towards the manufacturing sector: the most notable Malaysian exports are electrical goods and electronics, chemicals and motor vehicles. The growth of the country`s economy has put Malaysia in the position of being able to buy or take control of foreign companies - the civil engineering company Costain and the car manufacturer Lotus are just two examples. Also another area gaining increasing importance to the economy is tourism. With the growing availability of affordable air travel, Malaysia has seen a boom in foreign travellers arriving. While many travel to Malaysia to see the country`s historical sites and beaches, a high number of arrivals are eco-tourists who wish to see the rainforests and their inhabitants, of which Malayan tigers and orang-utans are probably the best known. Malaysia attracts nearly 9 million foreign visitors a year.
Infrastructure
Malaysia`s infrastructure is among the most modern in South East Asia, and is indeed more modern than some European countries. The Expressway road system provides Peninsular Malaysia with high quality transport links. The first of the Expressways the North-South Expressway (NSE) was completed in 1994 and links Kuala Lumpur to Bukit Kayu Hitam, close the border with Thailand in the north, and Johor Bahru, close to the border with Singapore in the south. The NSE is the longest continuous road in Malaysia at 966 kilometres. The British Foreign and Commonwealth Office rate road conditions in Peninsular Malaysia as �generally good`. Railways also provide good transportation to most areas of the Peninsula; however, there are sometimes problems due to the use of two differing track gauges. Imports and exports are by and large handled by Malaysia`s seaports, of which there are around 13 located in both Peninsular and Eastern Malaysia. Kuala Lumpur, the largest of Malaysia`s cities, is also one of Asia`s most technologically advanced cities. The Multimedia Super Corridor (MSC Malaysia) is an area of Kuala Lumpur selected by the government, with the purpose of boosting the countries ICT sector to a level on par with the current best in the world. The corridor reaches between the world-famous Petronas Twin Towers to the Kuala Lumpur International Airport. A number of foreign companies have a presence in the MSC, such as the communications companies Ericsson and Motorola, the automotive company BMW and HSBC bank. Kuala Lumpur International Airport (KLIA) was officially opened in June 1998 and is situated approximately 45 kilometres south from the Petronas Twin Towers. The airport links the country with almost all major destinations globally. Originally KLIA was designed to deal with in the region of 35 million travellers per year, however as yet, that capacity has not been reached. Interestingly, part of the airport design includes a world-class Formula One motor racing track two kilometres east of the main runway, and facilities at the airport such as shops and accommodation would make it possible to live at the airport. The airport is easily reached from the city centre either by taxi or the KLIA Ekspres train, which takes under 30 minutes from KL Sentral. The city itself benefits from an extensive rapid transport system, which includes a monorail and a comprehensive bus network.
Standard of Living
According to the Ministry of Tourism of Malaysia, �the cost of living is one of the lowest in Asia and will remain so for a very long time`. Also the Ministry is actively encouraging foreign nationals to come to Malaysia with their �Malaysia My Second Home (MM2H)` initiative. The standard of living in Malaysia is one of many contrasts, from the high-tech modern cities such as Kuala Lumpur to the ancient jungles and rainforests, which cover nearly 70% of the country. In the cities all the creature comforts you would expect of a modern western city are available, but so are the crowds and traffic jams. Kuala Lumpur, although a bustling modern city, does have its cultural side, which embraces both east and west. It is possible to spend the afternoon at the Islamic Arts Museum, taking in its stunning architecture and exhibits and then spend the evening listening to Beethoven at the Dewan Filharmonik Petronas concert hall. To finish the day, a meal at one of Kuala Lumpur`s world-class restaurants is an adventure, as there are many to choose from. Many who visit Malaysia do so not just to see the cities; over the years this has led to an increase in the number of eco-tourists for which the forests and jungles are a magnet.
Business Costs
According to MSC Malaysia, office rents in the Kuala Lumpur City Centre area of the Multimedia Super Corridor are in the region of 8.00 �� 10.50 Malaysian Ringgets (MYR) per square foot per month.
