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Transformation on the Street – Rejuvenating old cities

As a city, Kuala Lumpur (KL) is ever-changing, with new multi-story buildings being built to support the growth of new businesses and new shops opening on every corner. During the day, people flock to the city for work, shopping or just to take in the sights.

Unfortunately, the older buildings themselves aren’t keeping up with the pace of progress. Many of the older buildings are stained with grime, paint peeling off the walls. People skirt around the alleyways which tend to look dark and uninviting. Rubbish bags pile up around lampposts like a bizarre decoration. As a tourist hub, KL’s Golden Triangle still draws the greatest number of visitors, locals and tourists alike, but the wear and tear is undoubtedly evident.

There is however some glimmer of rejuvenation taking place in the form of a new tourist attraction along a once a dirty, neglected alley, Kwan Chai Hong.  This newly christened street is now a vibrant, colourful, charming laneway surrounded by new cafes and small shops. A ‘passion project’ administered by Bai Chuan Management, Kwai Chai Hong evokes memories of the area’s past as the heart of KL’s Chinese community during the 1960s through the very modern medium of street art.  The lane was officially opened to the public in April this year and has quickly gained a name as an Insta-worthy spot amongst locals and travellers alike.

Bringing back the charm
Photo courtesy of Bai Chuan Management

When asked about why they chose this particular laneway to revive, Bai Chuan Management co-founder, Zeen Chang, recalled that it was the charm of the place and the nostalgic memory of Jalan Petaling and Lorong Panggung that inspired them to revamp the area. “As we began work to mend this once neglected laneway, we fell more and more in love with it,” Zeen notes. “It was more than a dream come true.”

The project was founded by Ho Yung Wee and Coco Lew who were offered a 12-year lease for 10 units of shophouses connected by a laneway between Jalan Petaling and Lorong Panggung. From the start, the intention was never to demolish or strip the area of its cultural heritage. Instead, the couple was inspired by Coco’s memories of her childhood years tagging along with her mother as she frequented Petaling Street. At the time, Petaling Street was her favourite childhood spot with good food to feast on and filled with peddlers selling all sorts of interesting things. Decades later, Coco would return to Petaling Street to open a shop of her own selling toys and stationery.

“We were more inspired by the potential [the area] brings. We wanted to bring people back to KL Chinatown – bring back the glory days of Chee Chong Kai (茨厂街) and make the place lively once again,” Zeen explains.

To help make their vision come true, they turned to five local artists – Khek Shin Nam (郭先楠), Chan Kok Sing (陳國勝), Chok Fook Yong (祝福荣), Chew Weng Yeow (周永友) and Wong Leck Min (黄烈明). Rather than commissioning more well-known or even international artists, Zeen explains that they wanted to open the opportunity to others. “Much like how this project has given us the chance to explore things outside our expertise, we wanted to give talented artists, who were waiting for a break, a chance to share their work.”

Photo courtesy of Bai Chuan Management

They used murals as a way to depict what life was back then and share the stories of the heritage buildings in the area and the people who once lived in them. And these murals aren’t just one-dimensional; next to each mural is a plaque with a unique QR code which adds an additional audio element to the experience. The addition of props – a stool placed before a calligrapher’s table or a handkerchief dangling from a courtesan’s fingertips – allows visitors to interact with the images and, in a way, become part of the artwork.

 

Creating memorable cities

Project Kwai Chai Hong is just one of the many rejuvenation projects in the Greater Klang valley. There has been a new movement by locals, many of them young entrepreneurs, working together to reclaim some of Malaysia’s abandoned areas.

Think City’s Lee Jia Ping speaks to Transformation Today

Think City’s Programme Director, Lee Jia Ping, calls this placemaking, a term first introduced by US-based non-profit Project for Public Spaces to describe the practice of communities reinventing public spaces to fit their needs and to truly make these spaces the heart of the community. By reclaiming public spaces, she believes that cities can be made welcoming and comfortable for all, not just for the locals or the people who have lived there for generations, but also for tourists, migrants and the younger generations who move in.

“For any city to be successful and vibrant, there needs to be diversity of content and a variety of offerings. At the moment, nobody is really celebrating this part of the city because either a) people feel that it is unsafe and don’t dare to come down, b) that there is nothing to come down to this part of the city for, or c) that it only caters to a certain segment of the population,” Jia Ping says, motioning to the windows that overlook the main Leboh Pasar Besar street. “That’s not enough to sustain an area like this.”

Set up by Khazanah Nasional Berhad in 2009, Think City is an urban regeneration and social purpose organisation whose true north is to create cities that are resilient, inclusive and able to be celebrated by everyone. They specialise in rejuvenating areas that have fallen into disuse, using methods like space activation, public realm improvement, content and culture curation, capacity-building and research and advocacy.

Georgetown, Penang, was their first project. Now, they’re working with KL City Hall to turn five blocks in downtown KL into a creative and cultural district.

For Think City, the hardest part is figuring out how to make areas relevant again. Despite being the capital city of Malaysia, KL is virtually empty after hours as most of its footfall comes from people travelling to the city for work and leaving immediately after. Rare is the person who ventures outside of KL’s Golden Triangle.

“You don’t go to a city for the scenery of blocks and office towers. You go to a city to see its natural beauty, to see its built heritage and engage with it. Every time I take people around [downtown] KL, they’re surprised that there’s so many things to do when in fact, there’s a lot of stories here that are interesting not just to tourists but also to locals. I get a lot of people telling me, ‘Wow, I feel like a tourist in my own country, in my own city!’,” Jia Ping laughs. “So, [our work] is about unearthing forgotten narratives or building new ones and making these areas relevant again.”

And the best way to do it is through organising events, to give people a reason to come back and rediscover these forgotten areas. For Jia Ping, it’s all about content. An improved façade can only do so much; the key to increasing footfall is the character of the building and what’s inside. A good example is the refurbished Zhongshan Building which has recently made a name for itself as a creative hub that is hip, alternative and yet still very respectful and welcoming.

The Kuala Lumpur Creative and Cultural District (KLCCD) builds on Zhongshan’s model, covering a 100 hectares area from Little India to the north to the old KL Railway Station in the south. With so many important heritage sites under threat, a framework is needed to ensure that future growth is holistic. The hope here is to attract new investment in the creative industries as well as a higher value of tourism that is anchored on Malaysia’s built heritage, vibrant public spaces and policies that promote diversity and inclusivity.

Ensuring sustainability 

tarting an urban rejuvenation project, no matter the scale, is a big task in itself but as with any project, the launch is only half of the work. The other half is ensuring that the project is sustainable – like ensuring that the project site remains well-maintained, and that there is a constant flow of visitors – and this takes both discipline of action and flexible problem solving.

Picture courtesy of Bai Chuan Management

It’s been only a few months since Kwai Chai Hong was first opened but judging from the thousand-over posts tagged with the hashtag #kwaichaihong on Instagram, the project has gotten off to a flying start. It has brought a lot of people back to Petaling Street, both locals and international visitors alike, and this spike in traffic has given more business to vendors along Jalan Petaling. Many shopfronts have started their own renovation projects soon after the Kwai Chai Hong was launched in April which Zeen posits is either because new tenants are moving in or that existing tenants have decided to embrace the change that the revitalised laneway has brought.

Zeen and the rest of the team at Bai Chuan Management are well aware that they’re in this for the long run. Understanding that constant monitoring and engagement are critical to ensure project sustainability, the team have planned a full schedule of events designed to attract people to the laneway.  “There’s so much more we can and will do to bring people back to KL Chinatown. We will continue to curate the space and its content moving forward, in the hope of creating a space where people will gather and learn about the history, arts and culture unique to the Chinese community in Malaysia.”

To Jia Ping and the team at Think City, success is “when we’re not needed anymore, and the city thrives by itself.” An old hand at overseeing long-term projects, the team at Think City tends to use a ‘pop-up’ methodology to help get projects off the ground. Jia Ping calls it ‘lighter, faster, cheaper’.

“First, we do the baseline research to find out the community’s needs and wants, then we ideate on what’s there and then we experiment. We basically display some of your plans and see how the community reacts.” If there is a positive reaction from the community – if more people show up to use the space – the team keeps the idea. If not, they toss it and go back to the drawing board. This use of recursive problem solving has helped Think City keep their projects relevant, sustainable and, ultimately, successful.

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Transformation on the Street: From running errands to transforming businesses

With more people running businesses online or from the comfort of their homes, there is a growing demand for short-term help. GoGet Malaysia is a home-grown company that is helping businesses and individuals hire part-timers, re-born as ‘GoGetters’, to help run errands or help with tasks ranging from distributing flyers to data entry.

We speak with Francesca Chia, co-founder and CEO of GoGet Malaysia to get her thoughts on the upcoming digital transformation and how GoGet is redefining the way the gig economy works in Malaysia.

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Transformation on the Street: Delivering transformation to Malaysia’s public transport system

When the idea to build a Mass Rapid Transit (MRT) in Malaysia was first put on the table in 2010, it was met with varying degrees of both resistance and cynicism – resistance from pockets of community where the rail system would pass through, and cynicism that it would take the government of Malaysia a lifetime to get its act together.

They were wrong. It took Malaysia only six years to build and develop an entirely new rail line and integrate it into the existing system. The MRT is one of the country’s largest single investments and was intended to radically improve and transform Kuala Lumpur’s inadequate public transportation coverage. It was meant to propel the Greater Kuala Lumpur metropolitan area to be on par with that of developed cities around the world. Today, the MRT has managed to deliver both and has quickly become a popular mode of transport to get in and out of the city centre for residents and tourists alike.

Historically, public transport systems in Malaysia functioned largely as part of the social safety net for those with no other means of getting around. These included people from low-income households (B40) as well as those with lesser means to get around. This is slowly beginning to change with the growing demand amongst city dwellers wanting to go carless. The transit system of the future will be for people across the board. And today, the MRT moves an estimate of 196,000 people daily.

Malaysians already have access to a range of public transportation in the Klang Valley, from several bus operators, three light rapid transit (LRT) lines, two commuter rail lies, one monorail line, to an airport rail link. But as the city grows, so does the number of commuters travelling between the city and surrounding suburbs. Delivering a reliable and modern mass rail transit that elevates the current public transport system could not have come soon enough.

Meeting a need

It was estimated in 2017 that about 1.1 million people travel by public transport every day, most of them travelling in, out and around the Greater Klang Valley area. The Klang Valley itself is home to about 725 million people; it’s a rising urban hub and the site of one of the worst traffic jams in the country. A study by Boston Consulting Group showed that Malaysians spend an average of 53 minutes in traffic and 25 minutes to look for parking each day.[1] That’s a significant portion of time of the day spent stuck in a traffic jam and this adds up depending on how far Malaysians have to travel for work or to school.

In an attempt to ease traffic congestion and offer more transport options to commuters, the government made urban public transport a priority area. Prior to this, the last major upgrade to Malaysia’s public transport infrastructure was the introduction of the LRT in the late 1990s and the monorail in 2003. The LRT is still one of the more popular railways in the country but limited stations and overcrowding during peak hours makes the line inaccessible for many Malaysians.

The MRT was launched to address these concerns. The first line, stretching from Sungai Buloh to Kajang, connected 44 shopping centres, 11 education centres and several hospitals and was completed in 2016. In terms of integration, the MRT has been seamlessly connected to the existing public transport system, with paid-to-paid walkways and connections linking the MRT Line 1 to LRT, KTM and monorail lines. As the other MRT lines are built, more stations will be integrated into the overall Klang Valley rail network.

Providing an alternative choice of commute

Introducing the MRT extends the public transport coverage to more neighbourhoods and suburbs who, prior to the MRT, did not have easy access to a train station. It has given more people more choices on how to get in and out of the city centre and made public transport equally accessible for all.

A study by the Centre of Governance and Political Studies (CENT-GPS) pointed out that many of the MRT stations were built adjacent to higher-income neighbourhoods, arguing that this was why the MRT was not as popular as anticipated.[2] However, the study assumed that only middle- and lower-income households take public transport; this isn’t necessarily the case. More Malaysians from all backgrounds are choosing not to drive to work[3], whether to avoid the city centre’s infamous traffic jams, because they’re becoming more environmentally conscious or simply because there are more options now.

It’s also pretty cheap to ride the MRT. The price of MRT fares is comparable to the LRT and is actually lower than the Sunway BRT, with concession rates for senior citizens, students and people with disabilities. There’s also a second option, introduced early this year. Understanding that the concession cards cater to only a fraction of the population who take public transport, the government introduced two monthly travel passes, one at RM100 and another, just for buses, at RM50. The cards were extremely well received by the public; ridership on all rail lines surged by 40% surge in ridership after the travel cards were introduced.

Is the MRT for everyone?

One of the key characteristics of good public transport is accessibility – stations must be accessible for everyone, especially for people with disabilities or senior citizens with mobility needs. In 2017, over 450,000 people registered as Persons with Disabilities (PWD) with the Department of Social Welfare. 35.2% were PWDs with physical disabilities. Earlier stations were not built to cater their needs, causing disabled commuters to feel marginalised.

However, focus was aimed at increasing public convenience for all – including the disabled community. The government ensured that all MRT stations were constructed to be disabled-friendly and upgraded LRT stations along the Ampang and Kelana Jaya lines in July 2011. Today, most if not all stations are equipped with features like elevators and tactile paving. The gap between the train doors and MRT platforms has been designed to ensure that a wheelchair can roll in easily.

The Challenges – Today & Tomorrow

Urbanisation is on the rise as a truly global phenomenon as more people around the world are living and working in cities. This growing trend makes it even more important that cities transform to support the greater mobility requirements of urban dwellers. But creating the perfect public transportation network isn’t easy. Designing urban transportation for today’s cities has become highly complex; planners must balance the different modes of transport and a multitude of stops, while ensuring that the network can handle the amount and variety of traffic a good-sized city sees every day. While the focus of urban transportation traditionally is on residents, cities today are becoming hives of commerce and economic activity with residents, non-residents and travellers alike converging into one place. This makes having that public transportation network even more important for convenient mobility.

Malaysia’s public transport system is still a work in progress. One of the more valid criticisms in recent times given by Malaysian users on the urban transport system has been the poor first and last mile connectivity, with stations lacking safety measures such as dedicated pedestrian walkways on the streets closest to the station. This doesn’t just affect the MRT but also can be said of the other rail stations in Malaysia – a common complaint describes crossing the last 100 metres to get to a train station as “a nightmare”.[4] The government has addressed this by introducing a feeder bus system to provide that last mile connectivity between MRT stations and neighbourhoods. The fares for all MRT Feeder Buses have been set to RM1, making them a very affordable option for commuters. However, more could be done to improve the efficiency of this feeder bus system and increase safety standards for pedestrians.

Another common perception is that few people take the MRT. As evident, MRT ridership is still growing. As of March 2019, the MRT operator reported that January’s passenger traffic for the MRT surged by 40%.[5] Even if the increase rate drops back to the 28% yearly increase, it’s very likely that the MRT would reach the 250,000 ridership target before 2021. Moreover, the MRT is doing better than the LRT and Monorail lines who are both experiencing a decrease in ridership.[6]

Integrated public transit systems are a big investment to build, operate and maintain to remain relevant to urban mobility. Introducing travel passes, electronic tickets and cashless systems have made Malaysia’s public transportation more convenient, but there are still more ways to encourage regular uses. For example, the rising demand for loyalty rewards programme and incentives, like the use of a point system based on trip miles, for commuters could be a way to promote the use of public transit and to influence consumer behaviour. Another thing to think about is using technology like phone apps to give commuters live traffic updates of the train and bus schedules for each line.

And this doesn’t have to come at the cost of taxpayers’ money; a study noted that for every USD$1 invested in public transportation, approximately USD$4 in economic returns are generated, and for every USD$1 billion in investments in the sector, 50,000 jobs are created and supported. [7] The reasoning is that as more people cluster in a city centre, more jobs are created which would ultimately boost both wages and economic productivity over time.

Looking ahead

The MRT system is only two years old; it would take a few more years and the addition of the other two planned lines for it to reach its full potential. Cent-GPS concluded its report by stating that “the project was in the right place, it was in keeping with a greener future, it had the right idea for a sharing community.”[8]

We agree. The MRT project was designed to provide a cheaper, greener, more convenient alternative to driving and it has delivered on its promise. Effective transportation makes cities more liveable by easing residents’ commute and transportation needs and increasing accessibility. For those who can’t or don’t drive, public transportation allows them to go to work, to school, to buy groceries or seek medical help, or just visit friends without having to ask for a ride or spend more to take Grab.

Moving forward, perhaps the time has come for the Ministry of Transport to conduct a country-wide stock -take of user needs, compatibility, trends and incentives to drive the next wave of urban public transport initiatives. It is after all almost 10 years ago, since this agenda was put under the microscope of the BFR Lab Methodology.[9]

  1. Straits Times, 2017 [1]
  2. Cent-GPS, 2018, p.56 [2]
  3. The Malaysian Reserve, 2018 [3]
  4. Malaysiakini, 2018 [4]
  5. Malay Mail, 2019 [5]
  6. Cent-GPS report, 2018, p.52 [6]
  7. National Express Transit, 2017 [7]
  8. Cent-GPS report, 2018, p. 57. [8]
  9. The BFR Lab Methodology is a trademark of PEMANDU Associates, which was tasked with helping the government of Malaysia conduct its National Transformation Programme (NTP). The lab is designed to bring all stakeholders into one room to discuss issues and brainstorm solutions. To find out more, visit: https://demo.pemandu.org/8-steps-of-transformation/[9]
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Transformation on the Street: Business with a Purpose

NUDE is a small shop in Petaling Jaya with a mission to reduce waste and change the way Malaysians think about going zero-waste. Selling a range of items from soap, skincare and snacks, NUDE encourages customers to buy only what they need and bring their own containers to shop. It’s their way of getting more people to think about their impact they’re leaving on the environment.

We sit down with Cheryl Anne Low and Wilson Chin, co-founders and owners of NUDE, to understand their take on running a business sustainably.

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Transformation on the Street: Improving education, one Fellow at a time

Teach for Malaysia (TFM) is a not-for-profit, independent organisation bent on ending education inequality in Malaysia. They recruit fresh graduates and young professionals (fondly known as Fellows) to teach full-time in schools in high-need communities across Malaysia for two years. Their mission? To end education inequality and empower the nation through education.

We speak to TFM co-founder and managing director, Dzameer Dzulkifli, and former-Fellow and current Head of Talent Acquisition, Loh Ken Ming, to understand what quality education means to them.

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Transformation on the Street: Soft hearts. Hard feet. Kechara Soup Kitchen’s relentless fight against homelessness.

Mahatma Ghandi once said, “A nation’s greatness is measured by how it treats its weakest members.”

How are we treating the weakest, the stranger, the children, the ill, the weak and the struggling?

The witness of volunteers serving the hungry throughout the week in the Klang Valley illustrates a call to see and not forget our homeless neighbors. Knowing and holding their stories, their sorrows is one part of our humanitarian audit.

The Transformation on the Street team sought out Kechara Soup Kitchen (KSK), one of a number of Klang Valley NGOs sharing the vision of feeding and supporting the homeless.

 

The global issue at a glance

Technology is evolving at breakneck speeds. Governments are introducing more inclusive economic policies. And yet, homelessness continues to be a prevalent issue.

In fact, the last global survey conducted by the United Nations in 2005 revealed a staggering 100 million homeless people worldwide, amounting to 2 percent of the world’s population.

Back home in Malaysia, the Kuala Lumpur City Council (DBKL) has recorded an estimated 1,500 – 2,000 homeless people in the city of Kuala Lumpur as of 2016, showing a threefold increase from the year 2014 which recorded only 600.

 

Why is homelessness an issue in big cities?

Two main culprits are at play here:

Firstly, rising inflation which has led to arguably the most difficult time for Malaysians to own a home.

Secondly, (and perhaps more tragically) circumstances, which are outside of one’s control. For some, these include treatments for illnesses that have cost them their life savings.

In the end, these all point to one word – “unaffordability.”

In light of this, it is not surprising to see the slew of Non-Governmental Organisations (NGOs) forming worldwide to bring renewed hope for the world’s urban poor. And Kechara Soup Kitchen (KSK) is one such example.

Armed with an iron resolve of its founder His Eminence The 25th Tsem Rinpoche who believes that no one deserves to go hungry, KSK has been relentless in their pursuit of fighting homelessness. And 10 years down the road, the fruits of their labour continue to testify to this.

But what has been the key to their success?

 

Big on data

KSK has managed to amass one of the largest databases of “clients” or urban poor individuals. Each of their clients has a pictured profile complete with their background and medical information.

This wealth of data helps KSK to better understand each clients’ needs which then translates into smoother running of overall operations. And in the name of transparency, all this data is accessible through a mobile app.

 

Prioritisation over mere people-pleasing

KSK has demonstrated a willingness to evolve with the needs around them. Wee Jit Yeong KSK’s current Operations Executive, describes an ongoing issue with the more “seasoned” homeless – an over familiarity with living on the streets and thus, an unwillingness to live life any differently.

Given KSK’s emphasis on resolving the root cause of homelessness, Wee shares that KSK has since gone through a prioritisation exercise, shifting their focus on some of their more time-consuming and costly programmes such as job matching and job preparation to the “newly homeless.”

 

An endgame of economic empowerment

Beyond the homeless, KSK also supports the plight of certain financially struggling households – most notably, those of single mothers.

In addition to providing a monthly food distribution service to almost 400 marginalised households, KSK also provides training to single mothers, teaching them to sew items such as backpacks and rugs which are then sold back to KSK – all to help them make a simple income.

 

 

KSK’s emphasis on data and its willingness to evolve with the needs revealed in the said data, presents itself as a very well-oiled machine – a far cry from images one might naturally conjure up of a soup kitchen. Indeed, it stands as one of many examples of the value of having a soft heart for a good cause, but the hard feet to get the work done. The future is bright for KSK and the communities they serve.

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Transformation on the Street: Setting the Economic Agenda for a New Malaysia

Malaysia’s Budget 2019 announced on 2 Nov 2018 has set the pace for the direction in which the country’s economy will be steered by its new government. The budget, which was also the first to be unveiled by the government, was generally well-received by the public for its focus on fiscal discipline as well as inclusiveness and societal well-being of the middle and lower-income groups.

However, with expectations of a slightly higher fiscal deficit of 3.7% in 2018 against an earlier projected 3.4%, as well as lower forecasted economic growth of 4.8% for the year versus between 5% and 5.5% targeted previously, the government has firmly established a New Malaysia that is more cautious than in the past. Given the prevailing global economic and industry trends, this approach may prove prudent as the country strives to remain relevant against a competitive and dynamic landscape. But, what are the essential considerations for the government to develop the economic agenda for the New Malaysia?

Nurhisham Hussein, the Employees Provident Fund Head of Economic & Capital Markets, observed at the Youth Economic Forum (YEF) 2018 recently that the economic environment has shifted considerably in recent times, with the emergence of multiple economic superpowers and greater inter-connectivity among economies. Coupled with a fast-paced landscape driven by tech disruptors, Nurhisham believes that the traditional practice of backing specific industries to achieve growth is no longer feasible. “We need to bet on making ourselves as structurally sound as possible by investing in human capital and ensuring the labour market is flexible and geographically mobile,” he said.

Aside from keeping an eye on trends, policymakers would also be wise to address vulnerabilities within the local economy. These vulnerabilities exist mainly in the form of lower government revenue from the removal of the Goods and Services Tax and the current level of fiscal debt. While Malaysia is recognised for having strong economic fundamentals, such as ease of access to capital and credit, Tan Sri Zeti Akhtar Aziz, chairman of government-linked investment firm Permodalan Nasional Bhd, observed that the government is currently utilising 12% of its operating budget on servicing debt, double that of Malaysia’s peers.

Zeti, who is the former governor of the Malaysian central bank and also spoke at YEF 2018, added that monetary policy around the world sees increasing interest rates towards the normalisation of rates, as global economies are no longer in crisis. To follow suit, Malaysia must first address its level of debt and avoid excesses in expenditure. It is by achieving this normalisation of monetary policy can the country realise fiscal sustainability.

Warning that there is a “tremendous” need to jump-start the economy, she also advised that rather than cancelling infrastructure projects, the projects should be reassessed in terms of their value-add and impact to the economy, society and the environment, as well as cost against global standards.

The country’s economic conditions have also been highlighted by ratings agency Fitch Solutions. In a recent note, it cautioned of a slowing economy resulting from the government’s fiscal prudence. With the external environment remaining uncertain, the government may have limited room to stimulate growth while it seeks to reduce debt. The ratings agency also observed a greater reliance on oil revenues instead of measures to increase other revenue, which will additionally constrain efforts to lessen fiscal debt.

Meanwhile, Dr Sukhdave Singh, a director at Khazanah Nasional Bhd and also a former central banker, highlighted Industry 4.0 as a further point to contend with in establishing Malaysia’s economic trajectory. “We do not have the luxury of time. Industry 4.0 is already here changing the economic landscape and is only expected to accelerate in its intensity and impact. But we’re not ready; we need a national effort,” he warned.

Echoing Nurhisham’s earlier point that the time is past for focusing on specific industries, the government must instead create a nurturing environment for companies to become champions. This will require an intensive knowledge-based economy, a high-quality labour force, modern infrastructure, sound institutions and robust governance. These, in turn, call for deep political will and emphasis on innovation. The country is also urged to collaborate with its neighbours to compete with large economies, leveraging on ASEAN’s resources and market size.

With the New Malaysia still in its early days, the country and its economy remain in a transitional period. However, the prevailing global economy and industry trends signal that time and a balancing act in fiscal prudence are of the essence for the new government to launch a resolute economic agenda.