Sustained Growth Forecast by ANZ’s Bank Economist A capacity audience of 110 luncheon guests heard economist Mr Saul Eslake forecast an annual Malaysian growth rate of between five and 5.5. per cent over the next two to three years. The noted Australian economist was addressing the ninth Commonwealth Business Councils’ speaker luncheon on the subject of The Impact of China and India on the Global Economy held on March 6, at the Bankers Club in Kuala Lumpur. The ANZ Bank chief economist’s forecast was after taking into account the impact of rising oil prices on consumer spending, a further rise in interest rates and appreciation of the ringgit. Eslake said he expected the ringgit to appreciate further to RM3.50 against the US dollar by end of 2007. He advised Malaysian companies to shift their more labour-intensive operations to countries like China and Vietnam, as well as to move up the value chain to stay competitive. Addressing his theme, Eslake gave insights on the factors responsible for the emergence of China’s and India’s economies which have grown extremely rapidly over the past 25 and 15 years respectively. He described how the two Asian giants, accounting for two-fifths, of the world’s population, had enjoyed virtually simultaneous, sustained economic takeoffs that were having significant influence on the world economy. He said China had been growing at an astounding GDP rate of 8.4 per cent a year and India by 6.5 per cent. Their growth would have continuing impact on global markets for tradable goods and services, commodities and financial assets. What made the two giants especially powerful was their complementary strengths. An accelerating trend towards technical and managerial skills in both China and India were becoming more important than cheap assembly labour. Eslake forecast that China would stay dominant in mass manufacturing and be one of the few nations to continue building multi-billion-dollar electronics and heavy industrial plants. India would remain a rising power in software, design, services, and precision industry. The MABC organised the talk by Eslake as part of the Commonwealth Business Councils’ Luncheon series which are organised in turn by the participating Malaysian-Australian, Canadian, New Zealand and South African business councils. In February, the Malaysian British Business Council also joined the Commowealth luncheon speaker fraternity. Internationalisation of Australian Education Matthew Evans, counsellor (education, science and training) at Australian Education International gave a presentation on Internationalisation of Australian Education: Its Place and Future in Malaysia” to MABC members on March 30. At the presentation in the Australian High Commission theatrette, Evans said Australia’s education and training ties with Malaysia went back to the early 1950s, when many Malaysians pursued higher education at Australian institutions under the Colombo Plan. Since then, Australian education had been a powerful force on the international scene and was now an Australian industry that far outstripped wool in terms of export receipts. Evans’ informative presentation was followed by the March networking evening.

Chevrolet prizes lures players to MABC-Ashworth Golf Friendly Zairul Hashim pipped first and second runners-up, Jalil Shaaib and Surinder Singh, to take the honours at the MABC-Ashworth Golf Friendly played at the Kuala Lumpur Golf and Country Club in April 8. The lure of a Chevrolet for the player who aced a hole lured a record turnout of 122 members and guests to contest the tournament played under a Modified System 36 format in an atmosphere of bonhomie and under clear blue skies None of the hopefuls won the coveted Chevvy Aveo -- put up for grabs by sponsor Marsh Insurance Brokers (M) Sdn Bhd for any player scoring a hole in one on the three-par third hole. However, the generous donation by title sponsor, Ashworth, of giveaways -- including golf bags, trolley bags, T-shirts, caps and cash vouchers -- made the MABC’s 2006 annual golf day the most rewarding to date. MABC acknowledges the splendid efforts of exco members, organizing chairman, Datuk Wira Syed Abdul Jabbar, Datuk Peter Tan and Michael Halpin for organising one of the best Golf Friendlies on record and for securing such strong sponsorship backing for the event. MABC also gratefully acknowledges the following companies’ generous donations for prizes and lucky draws: Air Asia Bhd Antara Holiday Villas Sdn Bhd Asian Tigers Transpo Movers Austrian Airline Berri Ltd Bluescope Steel (M) Sdn Bhd Boulevard Hotel Chemical Company of Malaysia Berhad F & N Coco Cola (M) Sdn Bhd F & N Diaries (M) Sdn Bhd Federal Hotels International G.S. Gill Sdn Bhd Hilton Kuala Lumpur Ivy Beauty Corporation Sdn Bhd Leighton Contractors Malaysia Malaysia Airlines Systems Berhad Malaysia Australia Alumni Council Marsh Insurance Brokers (M) Sdn Bhd Maybank Berhad MMC Corporation Bhd Paradise Sandy Beach Resort, Penang Renaissance Kuala Lumpur Rotol Food Chain Shangri-La Hotel, Kuala Lumpur The City Bayview Hotel, Penang Vitaton (M) Sdn Bhd Yangtzekiang Industries Sdn Bhd SA Delegation Draws Big Crowd MABC hosted a 21-member delegation from South Australia to the networking evening at the Australian High Commission on May 28. Professor Dr Tan Hock Lim, president of AMBC South Australia, led the delegation which included representatives of defence, health care, migration agency, food supply and wine distribution industries. Almost 100 participants gathered at the foyer of Australian High Commission to hear presentations and interact with the delegates. Members and guests alike were well fed with local delicacies by D’Tandoor, washed down with free-flow Australian wine and beer.