Malaysia continues to forge ahead despite strong economic headwinds

Malaysia continues to forge ahead despite strong economic headwinds as reflected in the RM22.4 billion foreign direct investment recorded in the first half of this year.

Prime Minister Datuk Seri Najib Tun Razak said despite experiencing a decline in oil revenue, the country could still achieve a high-income nation status by encouraging entrepreneurship.

"Malaysia is a nation forging ahead and I'm confident that with the policies in place and entrepreneurial spirit that many of us have, Malaysia will achieve our aspiration of becoming a fully developed and high-income nation by 2020," he said at the launching of Naza Tower in Platinum Park here, Monday.

The new building will house Bumiputera conglomerate, Naza Group of Companies' official corporate office, in conjunction with the group's 40th anniversary.

Also present was Naza Group Joint Group Executive Chairman SM Nasarudin SM Nasimuddin.

Najib said in promoting entrepreneurship, the country needed to encourage people to look for opportunities behind every problem.

He added that by looking at opportunities behind problems, the entrepreneurs would not only create opportunities for themselves, but also wealth for the nation.

Najib who is also Finance Minister urged Bumiputera companies to use the approved permits (AP) they received as a catalyst to expand their business into other industries.

He said these companies should not asked for APs year after year, instead they needed to venture into other industries to diversify their income stream.

"We always emphasise that when we give APs to the Bumiputera companies, we want them to use the APs to expand business into other sectors.

"Not many Bumiputera companies that get APs are successful in various other sectors," he said.

Citing Naza Group as an example, the Prime Minister said the 40-year old company emerged among the most successful Bumiputera companies in the country after venturing into various industries.

He said from its humble beginning as a bakery in Kuala Pilah, the company now has a presence in Platinum Park, a strategic commercial centre in Kuala Lumpur.

Strategically located in Persiaran KLCC, Naza Tower, a 50-storey Grade A office building, is part of Platinum Park which also houses Menara Felda and Menara TH.

The overall Platinum Park integrated development, developed by Naza TTDI, has an estimated gross development value of RM4 billion and includes high-grade offices, upscale retail components, six-star hotel with full serviced apartments and luxury residences.

In 2012, the tower was awarded the Best Office Architecture by the International Property Awards, Asia Pacific.