From The COO South East Asia
Malaysia has emerged as one of Renoir’s busiest markets the last 20 years with tremendous growth potential. That growth has strained supply chains, demanded investment against economic uncertainty, and created critical skill gaps in the workforce. Adding to the challenges, the regional and global competitions are at greater levels than ever.
However, 2015 ended as a gloomy year for Malaysia and its currency, Ringgit. A slump in the oil prices and political uncertainties, coupled with the weakening of the Asian market, the pressure of the downside remains going into 2016.Consumer sentiments are dampened, corporations are cutting back and GLCs are cautious. The question is, Will Malaysia continue to drop? Strengthen? Or stay flat? Globally, it is going to be a challenging environment.
There is, however, good news. While oil-related exports decline significantly, non-oil exports are expected to held up and should continue to see decent earnings growth at the back of weak Ringgit. The government remains committed in transport infrastructure spending as well as supporting the affordable housing developments projects. Medical tourism may emerge as a direct beneficiary as the weakening Ringgit provides a cheaper option for medical tourists to obtain high-quality medical treatments in here. Within this environment we consistently delight our Malaysian clients, usually by delivering more benefits than we committed. We plan the achievable, but if necessary, we will provide the required resource to ensure success.