THE OPENING CEREMONY OF THE MARKET PLACE @ PENANG FAIR 2019

SPEECH BY CHIEF MINISTER OF PENANG
AT THE OPENING CEREMONY OF THE MARKET PLACE @ PENANG FAIR 2019

5 JANUARY 2019
Setia SPICE Convention Centre

 

Yang Berbahagia Datuk Seri Tajuddin Atan
Chief Executive Officer, Bursa Malaysia Berhad

Yang Berusaha Puan Selvarany Rasiah
Chief Commercial Officer, Bursa Malaysia Berhad

Distinguished guests.

Members of the media.

Ladies and gentlemen.

Good Evening and Salam Harapan.

First and foremost, I would like to thank and congratulate Bursa Malaysia for successfully organising today’s ‘MarketPlace @ Penang Fair’ event. I am also proud and grateful that the Penang state was chosen as the first state to hold the various events planned under the Retail Invest Year with the theme “Invest in Bursa, Invest in You”.

Penang is a multicultural destination and UNESCO World Heritage Site, rich of arts and culture from our stunning architecture, art showcases, street performances, unique street art on heritage buildings and old-world charm. As such, the theme of today’s event “Where Investing Meets Art & Culture” is the perfect fit that both Malaysians and Penangites are very proud of.

Ladies and gentlemen,

Against a rich and vibrant backdrop of arts and culture, Penang is actually a city full of economic potential;

a) In 2017, the Penang state was among the top 6 states that contributed a total of 71.2% to overall Malaysia GDP.

b) In the same year, we also surpassed the 2020 Target set for GDP per capita in Penang state of RM44,451. We also ranked third among all other states in terms of GDP per capita, only behind KL and Labuan. This achievement was supported by the strong average annual economic growth recorded by the Penang state of 5.6% which was higher than Malaysia’s 5.2%.

c) Government data also indicate that in the manufacturing sector, Penang state holds the second highest contribution share to overall GDP at 12.9%, only behind Selangor state. The Bayan Lepas Free Industrial Zone continues to be the main electronics manufacturing hub in Malaysia attracting various international companies to set up their operations here.

d) Although the manufacturing sector has always been the backbone of Penang state’s economy, the service sector which covers tourism and F&B has also been a strong contributor for the Penang state. We continue to be the destination for local cuisines, and vacations for both Malaysians and Foreigners in the country.

Penang is also home to many SME companies that have been performing very well over the past few years. As such, I would like to take this opportunity to urge all the SME companies in Penang to attend the upcoming event by the Ministry of Entrepreneur Development in collaboration with Bursa on the 18th of January that will educate SMEs on how to go public on the stock market.

As we continue to grow as a nation under the ‘Malaysia Baharu’ spirit, I urge more businesses to consider the Penang state as the location of your business.

Ladies and Gentlemen,

The MarketPlace @ Penang Fair today is aimed at raising public awareness and retail investment in our local stock market. The various educational talks and activities held are hoped to instill the interest and knowledge of Penangites here today, to start investing in the stock market.

I would like to reiterate what was earlier mentioned by the Minister of Finance that Retail Investor participation in the market is very important. Investing in the stock market provides opportunities for all Malaysians to grow their wealth. There are plenty of internationally recognised and global leading companies listed on Bursa, and currently 80 of those listed on Bursa Malaysia are from Penang.

So, I urge everyone here today to start considering stock investing as part of your asset allocation.

Start exploring the various platforms provided and innovated by Bursa Malaysia such as the Bursa MarketPlace that provides various learning tools and applications for a investors of all levels of sophistication.

Today’s technology such as online trading has also revolutionised the industry, making investing much easier and at a lower cost. As such, I urge all Penangites here today to reach out to the various brokers present at the fair today and or their branches in Penang for any of your queries on how to invest in the stock market.

Ladies and Gentlemen,

Before I end my speech today, I would like to again thank and congratulate Bursa for organising the MarketPlace @ Penang fair today.

I would also like to thank all the brokers, and industry stakeholders in their efforts to increase market awareness and financial knowledge by participating in events such as this. I hope that more events such as these will be held in Penang and I hope to see all of you again.

Thank you.