'Malaysia will come out ahead in these uncertain economic times'

GEORGE TOWN: A former Penang Chief Minister is optimistic the country will come out ahead in these uncertain economic times.
Wawasan Open University (WOU) Pro-Chancellor Tan Sri Koh Tsu Koon (pix) cited the examples of businessmen Yeap Chor Ee and and Tan Sri Syed Mokhtar Albukhary who did well despite trying circumstances.
He said Yeap had no formal education while Syed Mokhtar only studied until Form Five but both succeeded against great odds.
He said there was no doubt the country was facing great challenges in an increasingly uncertain and unstable world economy.
Among the issues affecting Malaysia was the weakening of the Ringgit and being caught in the so-called "middle-income trap".
Koh, however, pointed out a weaker Ringgit actually augurs well for the export of manufactured goods and inbound tourism and urged for a comprehensive and balanced view.
"In fact, if Towkay Yeap and Syed Mokhtar and many of our forefathers managed to survive and thrive in much harsher conditions, during their times, there is no reason why we cannot do just as well, if not better, at present," he said in his speech during the 7th convocation ceremony of WOU yesterday.
A total of 622 graduates will receive their scrolls for their academic efforts in the convocation this year.
WOU also conferred the Honorary Doctor of Letters degree on Professor Dr Asha Kanwar and Tan Sri Dr Jemilah Mahmood.
Also recognised for their achievements were Irene Cheng who won the Tun Dr Lim Chong Eu Memorial Prize, Kalaiyalagan Karuppiah who won the Chancellor's Gold Medal and Shirley Leong who received the Tun Dr Lim Keng Yaik Memorial Gold Prize.
Koh said Malaysia was poised to harnessed many new and emerging opportunities due to a multi-cultural and multi-lingual society.
He said the larger picture showed Asia to be on an upswing with the robust emergence of China and India with each having a market of more than a billion people.
He said the traditional trading partners of the USA, Europe and Japan were not a spent force despite their problems.
"Our diversity is indeed our greatest asset and strength," he said.