I am not sure if it is just me but I think Malaysia has more things in common with Singapore, Indonesia and Thailand and we do not often speak about Malaysia and The Philippines together. Recent ones? High Speed Rail, Iskandar is often related to Singapore. Indonesian maids and Malaysia or even the Haze meant Malaysia has lots to do with Indonesia. The recent MOU with the Thailand Central Bank to ensure both countries benefit from each others currency. Read here: Small but sure sites for ASEAN closer integration
Nothing about Malaysia and Philippines yet, at least good things until I read about the second largest developer in the Philippines buying up to 30% of a medium-sized listed developer in Malaysia. Yes, Ayala Land Inc is buying shares in MCT Bhd. According to Ayala, this purchase allows Ayala to build a stronger foothold in the real-estate sector in Malaysia. However, Ayala Land President said that it will remain a domestic company which meant that its principal activities would definitely remain within the Philippines. As a company, MCT specialises in mixed-use projects that include retail, office, hotel and mid- to affordable residential. It’s current projects include One City Subang Jaya and Cyberjaya and has landbanks in Dengkil.
I would really hope more would happen between all these ASEAN countries. Integration is key and there is really little need to have one currency. Truth is, when all the countries are much more ‘connected,’ then the voice as one can be stronger. ASEAN is after all a grouping of over 600 million people. Nearly 9% of the world’s population! The only issue is that as a grouping, ASEAN is still not closely connected economically enough, at least to my preference. The faster we treat one another as partners instead of competitors would be better for the future. Happy travelling within ASEAN first, before the world.
written on 24 Oct 2015
Next suggested article: China’s economy, the main anchor to all