Speech by Tan Sri William Cheng Heng Jem, President of ACCCIM

9th August 2010


Y Bhg. Dato’Abu Kassim bin Mohamed, MACC Chief Commissioner,

Senior Officials and representatives of MACC and ACCCIM,

Ladies and Gentlemen,

Good morning.

First of all, on behalf of ACCCIM, I wish to thank Y.Bhg. Dato’ Abu Kassim bin Mohamed and MACC for their initiative to have this Memorandum of Understanding signing with ACCCIM. This is a significant event which marks the joint action by MACC and business community to fight corruption.

As we are all fully aware, corruption is a major social problem which must be tackled through concerted efforts between the public and private sector, and it is vital to create a top-down anti-corruption culture within the country. A clear signal should be given to all that there is no room for anyone to corrupt or be corrupted.

The ACCCIM appreciate MACC’s initiative to rally cooperation and support of various chambers of commerce and major private sector organisations in jointly fighting corruption. We must overcome stern challenges to create a conducive and transparent environment to fight corruption effectively. Most important of all, the ongoing reform of judiciary and public administration, removal of the negative perception of corruption in society, enhancement of public education and awareness, intensifying measures of prevention, and elimination of repression must be the focal points for a feasible solution.


Ladies and Gentlemen,
Private sector and its corporate social responsibility have a very important role to play. ACCCIM has been promoting Universal Values and Good Work Ethics since 2004 by publishing handbooks, calendars and diaries with the easily understood quotes of Values and Ethics. We sincerely believe that conducting our business according to integrity principles will help us to be more successful, and ACCCIM is ready to cooperate with MACC to influence others by playing one of the leading voices in the battle against corruption and championing a set of Universal business ethics and compliance standards.

Despite corruption being something that sometimes seems inevitable, if we have the determination and commitment to continue with the fight, and if we choose effective methods of improving systems and reforming attitudes, we can substantially reduce corruption over time. We must learn from our own mistakes and learn from the successful practices of others. Let us face the challenge together and make the country a better place for next generation.

Thank you.

Media Conference on the Report of ACCCIM 2010 SMEs Survey

Speech by Tan Sri William Cheng, President of ACCCIM

10.00 a.m. 16th July 2010 ACCCIM Conference Room


A very Good Morning to all the friends from media. Thank you for attending this morning's Press Conference on ACCCIM 2010 SMEs Survey Report.

With the transformation of national economy, and efforts to enhance development of the country and encourage more foreign investment to Malaysia, the ACCCIM has actively participate in various meetings with Government departments and agencies, as well as established closer rapport with other trade organisations and agencies such as FMM, MyIPO, PIKOM etc. to organise series of activities to create business community’s awareness on related issues, and submit proposals to raise the needs and concerns of private sector.

In order to assist the business community effectively, the ACCCIM is establishing a Socio-Economic Research Centre (SERC) to plan various projects for business community and prepare proposals address to related government departments through more professional, comprehensive and in-depth study on issues and problems encountered by Malaysian SMEs.

Ladies and gentlemen,

Vary from the previous SMEs Survey conducted by ACCCIM, the survey this year do not focusing on SMEs financing issues but rather focus on taxation matters, particularly on the proposed Goods and Services Tax (GST). It is with the hope that we can gather information on the problems faced by the SMEs prior to the implementation of GST and gauge their degree of readiness. By collecting such statistics and information, ACCCIM will be able to raise to the Government on the concerns of business community and propose possible remedial action to reduce the impact of GST to the industry.

The Government had announced the postponement on the second reading of proposed GST Bill originally scheduled in March 2010 to collect public opinion, especially after the first reading in December 2009. The ACCCIM's survey, which is in line with the intention of the government, is to collect SMEs’ opinions. Although the Government has repeatedly stressed that the implementation of consumption tax is inevitable, yet according to the survey, obviously there is a big gap between public views and Government wish on the new consumption tax system. Publics do not understand the rational and the structure of this new consumption tax system. In view of this, Government need to strengthen its efforts in this regard, and educate the public through various medium for a positive view on the GST. The Government should also draw up a clear timetable and to provide more details so that public will have sufficient time to understand the details and to prepare accordingly. By having sufficient preparation, public, especially the businesses will not be caught by surprise and thus triggering series of negative impact, causing resistance and misunderstanding on GST. Secondly, the Government need to ensure the transparency and consistency on the GST and avoid unpredictable changes at all time so the businesses and public will not get confused. Meanwhile, business community, especially SMEs should take initiative, so as not to overlook the importance of computerising their companies’ accounts, because once the GST implemented, the SMEs without computerisation will be impacted directly and affecting its operations.

Malaysian SMEs, particularly SMEs operate in traditional ways, in general, are relatively passive to variety of new technologies and lack of access to information, and often lagging behind others. As Malaysian Government is now revising various acts and regulations, SMEs must take a proactive approach, to follow up and take a positive stand to those acts and its impact to the business sector, in order to be able to plan ahead and make appropriate adjustment to their operation and management style to ensure sustainable development. At the mean time, Government should give adequate time frame for private sector before the implementation of any new policy or new laws and provide sufficient and complete information and training, to ensure the effective implementation of policies or laws.

The detailed survey report will be briefed by Mr. Koong Lin Loong later. Finally, on behalf of the ACCCIM, I would like to thank all companies and individuals who involved and provided their assistance during the survey. The report will be submitted to the relevant government departments later, as well as upload to ACCCIM website for public access.

Thank you.


Read the ACCCIM 2010 SMEs Survey Report

ACCCIM PRESS CONFERENCE
Survey Report on Economic Situation of Malaysia
for the Second Half of Year 2009
25-8-2010 (Thursday), 11 am, ACCCIM Conference Room

Speech by Tan Sri William Cheng, ACCCIM President

1. First of all, I would like to express my appreciation to all the media representatives for your presence at this press conference on the Survey Report on Economic Situation of Malaysia for the 2nd half of Year 2009.

2. The ACCCIM Economic Survey on Economic Situation of Malaysia for the 2nd half of 2009 can be viewed as a mean to gauge the economic situation facing the Malaysian Chinese business community in the 2nd half of 2009. The survey also covered some current issues in relation to the Chinese business community, namely impact of the recession in United States, Japan and Europe, effects of the Government’s two economic stimulus packages, current low level of borrowing costs, impact of zero tariff for the ASEAN-China Free Trade Area on 1 January 2010 and Goods and Services Tax as well as concern over the public security situation in the country.

3. With the gradual improvement in the macroeconomic environment, the Malaysia’s economy grew by 4.5% in the fourth quarter from the same period in the previous year. The Government’s two economic stimulus packages played a significant role to bring about this encouraging result.

Nonetheless, it is early stage of recovery and the business community remains cautiously optimistic about the economic outlook of Malaysia. The private sector has been identified as engine of economy growth. In the soon-to-be announced New Economic Model, ACCCIM hope that the Government will continue to implement a more pragmatic and bold policy as well as play an effective supporting role to build a very competitive and pro-business environment. This will lead to higher consumption and investment activities, continue to promote the growth momentum in various economic sectors towards a developed country with a high-income economy.

4. The ACCCIM would like to record our appreciation to Faculty of Accountancy and Management, University of Tunku Abdul Rahman (UTAR) for their assistance and support to make this survey a success.

Finally, I take this opportunity to thank the media for your support and cooperation in giving continued coverage of this survey report.

Thank you.

Click here to read the summary of the report

Yang Amat Berhormat Dato’ Sri Mohd Najib bin Tun Abdul Razak, Prime Minister of Malaysia,

Yang Amat Berbahagia Datin Seri Rosmah Mansor, wife of the Prime Minister of Malaysia,

Tun-Tun, Tan Sri-Tan Sri, Datuk-Datuk,

Dif-dif yang dihormati,

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

Ladies and Gentlemen,

Good evening to all of you!

First of all, on behalf of ACCCIM, I would like to extend my heartfelt gratitude to our Honourable Prime Minister, YAB Dato’ Sri Mohd Najib bin Tun Abdul Razak for kindly accepting our invitation to be the Guest of Honour for tonight’s function.I also wish to thank Yang Amat Berbahagia Datin Seri Rosmah Mansor for your gracious presence tonight.

The ACCCIM Chinese New Year Grand Dinner is aimed at bringing together all Malaysians to celebrate the Lunar Year of the Tiger and to unite with the “1Malaysia spirit”. By organising the Grand Dinner, ACCCIM hopes to provide a networking platform for all participants to enhance their working relationship. We also wish to further strengthen our relationship with the Government and work together to put into practice the concept of “1Malaysia”.

Invited guests to this Grand Dinner include Government Ministers and top government officials, Ambassadors and High Commissioners, corporate leaders, representatives from more than 100 National level organisations, office bearers of ACCCIM and Constituent Chambers from all over Malaysia, and more than 150 trade and guild associations covering various economics sectors in Kuala Lumpur, Selangor, Perak, and Negeri Sembilan. More than 3000 guests are here with us tonight.


Ladies and Gentlemen,
According to the Chinese calendar, 2010 is the Year of the Metal Tiger. The Tiger is known for its strength and bravery, and is admired for its beautiful stripes that symbolize the balanced forces of “yin” and “yang”. The Year of the Tiger is traditionally associated with massive changes. This, I think, fits well with our Honourable Prime Minister’s call for changes in our country: change in our mindset, change of economic model and change of strategies. For Malaysia to thrive and to improve the well-being of all Malaysians, we have to change, and change courageously and forcefully like the Metal Tiger for a better future.

Ladies and Gentlemen,
In the 1980s, Malaysia achieved 8% to 9% growth per annum. This shows that we can perform very well if we apply the right strategies at the right time. Since then, the external environment has changed radically. As such, we have to review and revise our strategies to cope with the new environment in order to sustain our economic growth.

It is timely for the Government to unveil the New Economic Model at this juncture. We hope the new model will be pragmatic and viable, with full drive and power to propel Malaysia into a high-income economy. However, we must not overlook the importance of the implementation of this new plan. Proper and efficient methodology must be applied in order to achieve the goals.

For this year, ACCCIM has set a target to attract US$ 2 billion worth of direct investment from China. We hope to help our country achieve its goal of becoming a high-income economy and developed nation.

Ladies and Gentlemen,
The recent announcement by the Honourable Prime Minister that the Gross Domestic Product (GDP) for the fourth quarter of 2009 grew by 4.5% is very good news indeed. I think this can be attributed not only to the multiplier effect of the two stimulus packages, but also to the positive response to a series of liberal and positive policies announced by the Prime Minister. If we continue to work hard, I believe we will be able to achieve 6% growth next year.

Ladies and Gentlemen,
While we sometimes make request to the Government, the ACCCIM has also set up a special committee to help other races to upgrade their living standards and assist SMEs. For example, we are planning to provide courses for businessmen of other races to learn how to start direct sales and bird nest businesses. Through the training programs, we hope to churn out more entrepreneurs of other races in these sectors. We also promote various kinds of Malaysian products through Parkson retails in China and Vietnam.

The Malaysian Courts have improved significantly in handling and speeding up court cases. We are very impressed by the Federal Court’s landmark ruling recently on Adorna vs Boonsom case, in which the Federal Court reversed its decision to plug a loophole in the law to allow landowners who lost their land through fraudulent means to redeem their right to the property. This decision will help restore the confidence of local and foreign investors.

Ladies and Gentlemen,
Social security is still an issue of concern to the Rakyat as well as to the foreign investors. Although recent police actions in some urban centres have seen some improvement in curbing robberies and snatch thefts. However, the problem of crime is still far from being resolved as illegal activities are rampant in the major urban areas and growth centers such as Klang Valley, Johore, Penang and Ipoh. We hope the Government can take effective measures, including the installation of more CCTVs to prevent crimes.

Ladies and Gentlemen,
I wish to take this opportunity to make the following suggestions:

Firstly, Malaysia is rich in mineral resources. We have iron ore, coal, gold, copper, zinc and tin mines. However, our revenue from the mining industry drops by 3% to 4% annually. This is because the owners of the mining lands do not want to develop the lands. I hope the Government can assist in opening up the mining lands, and inviting big enterprises to invest and develop them. The refining of these mineral resources can be done in Malaysia, and we can reverse the present revenue from the mining industry to be a positive.

Secondly, we urge the Federal and the State Governments to open up more land for agriculture and enable farmers to have their own land for cultivation. This will contribute to self-sustainability in food production and reduce the food import bills. The Government can attach a condition for the land users to develop the land in two years, failing which the land will be returned to the Government.

In addition, we urge the Government to provide more land for people of all races in the plantation industry. Oil palm is the largest contributor to the agricultural sector in Malaysia, amounting to RM50 billion last year. At present, the national average CPO yield is 4 tonnes per hectare. If the yield can achieve 6 tonnes of oil per hectare (as is being done by IOI Group), Malaysia will enjoy an additional RM30 billion in export earnings.

Thirdly, I suggest the Government give special rewards to those who invent new equipment to upgrade the production operation (such as speeding up the oil palm harvesting process and rubber tapping process). This will reduce the dependence on foreign labour. The service sector can also cut the number of foreign workers if more self-service systems are introduced.

Fourthly, although the Honourable Prime Minister has announced a series of pragmatic and liberal policies, certain government officials may not implement these policies as required. This may be due to their mindset and their limited comprehension of the policies. I wish to suggest that the Government provides a short-term training course for these officials (as conducted by the Chinese Government, known as `Party School’ in China) to broaden their minds. As such, the noble 1 Malaysia concept of the Prime Minister can be fully implemented.

Fifthly, to the businessmen and manufacturers, the statistics and information of import and export items are very important in their decision making. However, one can only obtain these statistics and information from the Statistics Department two or three months later. I suggest that the Customs Office, which keeps the latest available statistics and information, make these statistics and information accessible in its website. Even if the customers are required to pay for this service, I believe they are willing to pay.

Ladies and Gentlemen,
We are very glad and thankful to the Honourable Prime Minister for giving ACCCIM and the private sector many opportunities to meet him personally, and kindly considering our suggestions and recommendations. For example, during the working lunch we had with him recently, we were able to convey to him our suggestions on attracting FDI and encouraging domestic investment. On the other hand, I hope the private sector will continue to forward constructive suggestions to the Honourable Prime Minister.

ACCCIM fully supports the leadership of YAB Dato Sri Najib Tun Razak and his noble concept of 1 Malaysia. Let us, the private sector, the Government and the Rakyat, work together and have the dream come true of an equitable, vibrant, dynamic, happy and prosperous Malaysia!

Thank you. Terima kasih!


10th March 2010

Speech by Tan Sri William Cheng, ACCCIM President

17-8-2009 (Monday), 12 noon, ACCCIM Conference Room


1. First of all, I would like to express my appreciation to all the media representatives for your presence at this press conference on the Survey Report on Economic Situation of Malaysia for the 1st half of Year 2009.

2． Global economic and financial situation further deteriorated at the end of last year. External demand declined significantly and businesses have gone from bad to worse. In the current economic downturn, the Government announced decision to maintain the electricity tariffs for now. This has prevented further increase of operating costs and the decision is consistent with the Government's efforts to revive economy by implementing a series of economic stimulus measures. ACCCIM is grateful and support the Cabinet’s decision to reject the proposal for electricity tariff increase.
We express appreciation to the Federal Government for being thoughtful of the difficulties facing the businesses and in giving priority to the interest of the people.

3. Since assuming the position as Prime Minister, YAB Datuk Seri Najib Tun Razak has implemented a number of economic liberalisation policies and measures, including opening up of services and finance sector. The Prime Minister has also paid official visits to China, Indonesia, Thailand, Singapore, Brunei and other trading partners to promote and strengthen intra-region investments and trade.

At the meantime, ACCCIM hope the Key Performance Index mechanism of six National Key Results Areas announced by the Government can consolidate all the resources and strength to ensure smooth transition of Government management and ultimately benefit the people.

4. The ACCCIM Economic Survey on Economic Situation of Malaysia for the 1st half of 2009 can be viewed as a mean to gauge the economic situation facing the Malaysian Chinese business community in the 1st half of 2009. The survey also covered some current issues in relation to the Chinese business community, namely impact of the recession in United States, Japan and Europe, government’s RM10 billion guarantee programme and current low level of borrowing costs, effects of the Government’s two economic stimulus packages, efforts to reduce workforce and selling price of consumer goods as well as concern over the public security situation in the country. This survey result serves as important reference for both the government and the business community.

5. Finally, I take this opportunity to thank the media for your support and cooperation in giving continued coverage of this survey report. Thank you.


Click here to download the survey report.