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22 Jul, 2014

Malaysian CEO Forum 2014 Flags Warning Signs of Looming Financial Crisis

KUALA LUMPUR, July 22 (Bernama) — Economists and financial experts are predicting an imminent global financial crash, of equal or greater severity than the 1997 crisis, from which Malaysia recovered thanks to incisive policy decisions. The macroeconomic discipline imposed during the 1997 crisis helped Malaysia to weather the 2008 financial turmoil and Malaysia was spared the worst effects of the crisis but that does not mean that we would be well protected from the effects of another meltdown.

The warning signs of another crash are present: speculative, bubble-inducing money inflows into emerging markets, including Malaysia, as a result of US quantitative easing policies; rising property prices due to low interest rates; record high household debt and public debt to GDP ratios; and a persistent budget deficit due to various government economic stimulus packages. These elements are also in play in other South East Asian countries as well as in China, India and Brazil, increasing the likelihood of a global financial contagion. Other possible triggers could be a global currency war as other currencies attempt to replace the US dollar as the dominant trade currency, a significant sovereign debt default and geo-political eruptions.

Is Malaysia strong enough to withstand another major economic collapse? What steps can we take now to strengthen our economy against the onslaught of a crash?

To address these concerns, Perdana Leadership Foundation is organising its sixth CEO Forum on the 24th of September 2014 in Berjaya Times Square Convention Centre, Kuala Lumpur. Once again, more than thirty Malaysian CEOs and industry experts will give their opinions on a wide range of issues such as the role of ASEAN in building Malaysia’s economic resilience, Malaysia’s national resilience scorecard, the nation’s education system, leadership in times of crises, Malaysian productivity and how to prepare for a financial catastrophe in an event that promises fresh interactions and new insights.

This key Forum aims to highlight the trends, predictions and outlook for Malaysia in 2013. Confirmed speakers include Tan Sri Nor Mohamed Yakcop (Khazanah), Dato’ Tengku Zafrul Abdul Aziz (CIMB), Encik Nor Zahidi Alias (MARC), Dato’ Abdul Rauf Rashid (Ernst & Young), and Encik Wan Saiful Wan Jan (IDEAS). Tun Dr. Mahathir Mohamad, the fourth Prime Minister of Malaysia, will deliver the Keynote Address.

The one-day event consists of one plenary and nine concurrent sessions, including a Special Session with Ernst & Young where they will elaborate on the Industries of High Resilience and Growth, 2015 and Beyond.

“It may seem like a pessimistic view of the global economy, but we believe that being prepared for the worst will put Malaysia in good stead, especially as the nation has had to weather two serious financial crises within the past two decades. Our intention with this year’s Forum is to explore our economy’s national resilience, particularly from the macro-economic perspective. Getting CEOs and analysts together to discuss the possibility of another global meltdown will, we hope, lead to better planning with the development of a “worst-case scenario” strategy for Malaysian companies. This Forum will also offer some insights for policy development,” said Tan Sri Nik Mohamed Nik Yaacob, Executive Director, Perdana Leadership Foundation.

Forum fees are only RM600 for a whole day of plenary and concurrent sessions with a 10% discount for group registrations of three or more. More information on the CEO Forum can be obtained by contacting Ms. Humaira (humaira@perdana.org.my / 03-8885 8960) or Ms Maizatul (maizatul@perdana.org.my / 03-8885 8965).

The Perdana Leadership Foundation is the organiser of the 2014 CEO Forum with Berjaya Corporation as the Official Venue Sponsor, Ernst & Young as the Main Sponsor, The Silverlake Group, Westports and Dynac as Gold Sponsors, Symphony Life as a Bronze Sponsor.