An Overview of Malaysia
Malaysia is in fact truly Asia. A country of contrasts, Malaysia is the world’s leading example of genuine multiculturalism. Here, Christians, Buddhists, Sikhs and Muslims live side by side in the cities and villages and on the beautiful islands of this rich country. Malaysia covers two major land masses - there is what’s known as West Malaysia, which borders Thailand to the North and Singapore to the South, and then there is Malaysian Borneo which is the huge land mass to the east, which is broken down into two main provinces, Sabah and Sarawak. All together, Malaysia is blessed with some 4675kms of tropical, palm fringed coastline!!
Malaysia was colonized by the British until 1947, and so English is widely spoken and the constitution is based on English law. This has helped Malaysia become such a dynamic, agile country, which is now one of Asia’s top performers.
Malaysia is rich in natural resources, with a young population of highly educated academics and workers and the country is both politically and economically stable. It is very easy to do business in Malaysia. The vibrant capital city of Kuala Lumpur can easily compete on the world stage with its high tech infrastructure and designer shopping malls, and Malaysia’s beaches and islands are some of the region’s most unspoiled and naturally breathtaking – this fabulous country really does have it all.
Malaysia is a newly industrialised market economy and is relatively open-state oriented. The Malaysian economy is one of the strongest in Asia and this has not just been the case in recent years. The stability of the Malaysian economy goes back to 1957, it therefore has a history of long-term success, unlike many of its neighbouring countries. Malaysia was placed as the 3rd largest economy is SE Asia and the 29th largest economy in the world in 2012, showing its strong presence as a highly valued economy. Malaysia was quick to recover from the recent economic crisis as well as the Asian economic crisis in the 90’s, this proves the resilience of the Malaysian economy and its ability to bounce back after more difficult times. Moreover, the Malaysian economy is still described as a growing economy, with more potential to be seen in the future.
Tourism in Malaysia is strong and heavily supported by the Malaysian Tourism Board Act (1992) and is Malaysia’s third greatest source of income from foreign exchange. Malaysia is an incredibly popular tourist destination, ranking as high as the 9th most visited country in the whole world and for good reason! What attracts tourists to Malaysia is the diverse offerings that Malaysia boasts….
Kuala Lumpur is a global, fast pace city, with sophisticated restaurants, shopping and nightlife and a vast array of internationally branded hotels mingled with a heady mix of historical buildings and is tipped to be one of the most beautiful cities in the world. Home to some fabulous skyscrapers, the most famous of which being the Petronas Twin Towers, KL skyline is at once captivating and easily recognizable.
Langkawai Island is a postcard perfect tropical island and a UNESCO Geopark lying about 30km off the coast of mainland Malaysia in the Andaman Sea – the island is world renowned and oozes pure paradise.
Borneo is a truly amazing bio-diverse area with so much to offer all on its own – stretches of untouched white sandy coastline, dense tropical rainforests with unique flora and fauna and arguably the best diving that Malaysia has to offer. Kota Kinabulu, Borneo’s the main city is growing at a phenomenal pace as a thriving waterfront city under the imposing Mount Kinabalu which is the second highest mountain in south east Asia - the panoramic view from the top of this mountain is breathtaking.Malaysia welcomed 25m tourists in 2012 earning a whopping RM60.6 billion from this sector!
As an investment location, a place to take a holiday or a place to retire, Malaysia is hard to beat.
Capital: Kuala Lumpur
Land size: 329,750 km2
Population: 29,628,392 (July 2013 est.)
Climate: tropical, average temperature year round 31.5 degrees C
Economics: GDP rate for 2012: 5.6%
Tenure for foreign property purchasers: Leasehold, 99 years renewable, direct from the Government
Availability of finance for foreign property purchasers: Up to 70% mortgages, maximum lending term is 15 years