Speech by Tan Sri William Cheng Heng Jem, President of The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM)

7.00 p.m., 16th April 2009 at Imperial Ballroom, Centro Klang

Yang Amat Berhormat Tan Sri Dato’ Abdul Khalid bin Ibrahim, Menteri Besar Selangor,

Yang Berbahagia En. Ter Leong Yap, Presiden Dewan Perniagaan dan Perindustrian Cina Klang,

Tan Sri-Tan Sri, Datuk-Datuk,

Tuan-Tuan dan Puan-Puan yang saya hormati sekalian,

Salam sejahtera,

Bagi pihak ACCCIM, saya mengucapkan selamat menyambut ulangtahun ke-63 kepada Dewan Perniagaan dan Perindustrian Cina Klang. Kehadiran Yang Amat Berhormat Tan Sri Dato’ Abdul Khalid bin Ibrahim, Menteri Besar Selangor pasti akan dapat memeriahkan majlis yang bermakna malam ini. Dengan izin Yang Amat Berhormat saya seterusnya akan berucap dalam Bahasa Inggeris.

Ladies and Gentlemen,

In conjunction with the celebration of 63rd anniversary of Klang Chinese Chamber of Commerce and Industry, the Annual General Meeting of ACCCIM for year 2009 will be held tomorrow in Klang. Delegates from all states of Malaysia are gathering tonight to celebrate Klang CCCI’s anniversary as well as to interact among themselves and expand networking for business opportunities.

Ladies and Gentlemen,

The global economy is experiencing unprecedented recession subsequent to the impact of US subprime financial turmoil and the hiking of the primary products, mineral products and fuel prices since last year. To cope with the stern challenges of the global financial crisis, various countries have launched stimulus packages with huge fund injection, and implemented monetary liberalisation policy by reducing OPR. The Malaysian economy, though not directly damaged, also suffer severe impact. The Federal Government has launched the 1st and 2nd Stimulus Package in Nov 2008 and March this year, with a huge sum of 7 billion and 60 billion ringgit respectively, aiming to stimulate the domestic economy. Bank Negara Malaysia has also announced the reduction of Overnight Policy Rate (OPR) three times from last November to February this year, in order to induce the banking sector to continue lending and vitalise the domestic business and consumer activities.

With the challenges of substantial shrinking of global market, Malaysian entrepreneurs need to adjust their ways of doing business and review their business plans. Meanwhile, they also need to enhance and strengthen their ability to monitor the future direction of global economy in order to plan their strategy to transform crisis into business opportunities. The Malaysian SMEs have to change their mindset of only focusing on domestic market by traditional ways of operation. They must realise that globalisation is a reality. If they refuse to change, they may be wiped out by the market forces.

Ladies and Gentlemen,

The ACCCIM has always been concerned on the development of domestic business community, particularly the development of SMEs. To further examine the difficulties faced by SMEs on cash flow, marketing and financing, as well as to study the impact of government stimulus packages, ACCCIM is currently conducting a nationwide survey to collect feedbacks from SMEs and everyone is welcome to respond to this survey.

The ACCCIM harbour the great hope that with his appointment as Malaysia’s 6th Prime Minister, YAB Dato’ Sri Najib will lead Malaysia out of an uncertain situation since March 2008 General Election. It is also hoped that the government will accelerate the implementation of various projects under the Stimulus Packages and end the economic downturn. The ACCCIM also wish the Selangor State Government will closely cooperate with the Federal Government to stimulate the economy in the interest of the people and the nation.

For the past year since the last General Election, we have noted the efforts of Selangor State Government in various aspects particularly in encouraging more investments in the state. The proposal of establishment of a China Village at Pulau Indah and Selangor 2nd Technology Park to attract Colleges and investments from China to develop Condominium and other development facilities, is a very creative idea and provides business opportunities for companies from China to invest in Malaysia. I hope the Selangor State Government will continue its good efforts to attract more investments and promote the economic growth in the state. We also wish to express our appreciation to the State Government for their cooperation with the Associated Chinese Chambers of Commerce and Industry of Coastal Selangor to organise tourist and food festival in promoting tourism industry.

Last but not least, on behalf of ACCCIM, I would like to wish the Klang CCCI happy 63rd anniversary celebration. I firmly believe that the Klang CCCI under the leadership of Mr Ter Leong Yap with the close cooperation of all the office bearers, will achieve greater success in advancing the interests of the Klang business community and in contributing to the national economic development.

Thank you.