Allinial Global’s Asia Pacific Regional Conference 2022
WELCOME ADDRESS BY YAB CHOW KON YEOW
THE CHIEF MINISTER OF PENANG
Allinial Global’s Asia Pacific Regional Conference 2022
22 August 2022
Shangri-La Rasa Sayang, Penang
Mr. Mark Koziel,
President & CEO at Allinial Global from USA and his senior management team
Mr. Tony Sacre,
Chair of Asia Pacific Regional Board and his fellow board members
Distinguished Allinial Global Member Firm Representatives from 20 countries
(USA, UK, UAE, Brazil, Turkey and across Asia Pacific – Australia, New Zealand, India, South Korea, Taiwan, Philippines, Hong Kong, Vietnam, Nepal, China, Bangladesh, Thailand, Singapore, Indonesia and Malaysia)
Members of the press
Ladies & gentlemen
Selamat pagi, good morning to all.
I’m honoured to be here today at Allinial Global’s Asia Pacific Regional Conference 2022, to meet and greet more than 100 participants from the various continents present both in-person and virtually. We are privileged to be chosen by Allinial Global, the world’s second largest association of independent accounting and consulting firms for your regional conference location.
Allow me to take this opportunity to welcome everyone to Penang, the Silicon Valley of the East, the Pearl of the Orient and of course, a food haven with a true melting pot of cultures with its blend of the very best Eastern and Western influences.
Ladies & gentlemen,
The year 2022 is one of celebration for Penang as we step into our 50th anniversary of Industrialization.
Holding on the tagline ‘50 Years of Excellence and Beyond’, the state strives to uphold our conducive ecosystem capable of stimulating the advancement of strategic industries for the next 50 years and beyond.
Despite being the second smallest state in Malaysia, Penang commanded over 5% of the global semiconductor sales and made up close to 60% of the country’s E&E exports. Penang is also known as a key regional hub for front-to-back-end equipment manufacturing, serving the needs of the E&E industry along the value chain.
The state’s well-developed E&E ecosystem not only enables us to move up the value chain, but also opens up countless opportunities in other areas. In this regard, Penang has become a hub for the medical device industry in this region, having the highest concentration of medical technology companies in Malaysia and Southeast Asia.
Penang’s world-class industrial parks equipped with excellent amenities have also strengthened our position as a strategic site for companies with a stake in advanced manufacturing, R&D and knowledge intensive Industry 4.0 operations. This, coupled with the state’s strong emphasis on sustainability, has rendered us the capacities and capabilities to support the needs of industrial players’ next generation technologies and growth strategies.
Penang is proud to be home to over 350 multinational companies and 4,000 SMEs. The strong linkages of the MNCs with our domestic economy has created numerous supply chain localisation opportunities for our homegrown players. The state’s commendable performance that continues to punch above our weight has greatly demonstrated Penang’s sustained excellence as the Silicon Valley of the East.
Ladies and gentlemen,
With that brief overview of what Penang has to offer, I am confident that Allinial Global, which I’ve been made to understand is ranked fourth largest in Asia Pacific by World Survey 2022 (International Accounting Bulletin 2022), plays a strategic role in delivering independent accounting and consultancy services.
I would like to take this opportunity to congratulate Allinial Global on your expanding network of members, and it is indeed commendable that Asia Pacific is the fastest-growing segment of the Allinial Global membership.
I am also pleased to note that Allinial Global in Malaysia had also contributed its growth of more than two times here with the mergers and collaboration of several firms across the whole of Malaysia to be the fourth largest association in the country here. I look forward to Allinial Global in Malaysia making more inroads in the future. As a Chinese proverb says, “Be not afraid of growing slowly, be afraid only of standing still.”
With a list of comprehensive programmes mapped out over these three days, I am most certain that you will have fruitful and rewarding exchanges from the conference. And while you are here, do remember that this beautiful state is yours to explore and enjoy. There is much to see and of course, a gastronomic adventure awaits even for the most discerning palates.
Thank you for choosing Penang as your conference destination and I certainly hope to meet Allinial Global members again in the future.