An Overview of Activities for the year 2023

I am delighted to present to you the Annual Report for the year ending 31st December 2023 of our esteemed association. As we reflect on the past year's endeavours, we acknowledge the prevailing challenges and emerging issues that have shaped our journey. Despite the dynamic landscape, our association remains steadfast in its commitment to advancing our mission and fostering greater awareness and understanding of crucial economic issues among the Malaysian public.

Within these pages, you will find a comprehensive overview of the various activities, accomplishments, and financial performance of MEA. Thanks to the collective efforts of our Executive Committee members, secretariat staff, volunteers, and valued members, we have made significant strides in achieving our goals.

On February 27, 2023, we initiated our year with the highly anticipated 2023 Post Budget Debate, which had been postponed for some time. This debate followed on the announcement of the revised and re-tabled national Budget 2023 by the Ministry of Finance on 24th February 2023. The event hosted at Dewan Perdana, Bukit Kiara Equestrian & Country Resort, Kuala Lumpur, was a remarkable success. It attracted a diverse audience of 150 participants from commercial, industrial, and governmental sectors. Our esteemed keynote speaker was YBhg Datuk Johan Mahmood Merican, who was then serving as the Deputy Secretary General (Policy) at the Ministry of Finance (MOF). He was joined by distinguished panellists: Puan Farah Rosley of Ernst & Young Tax Consultants Sdn Bhd, Dr. Apurva Sanghi of the World Bank and Ms. Arinah Najwa of Bower Group Asia. The discussion was moderated by our Deputy President, Professor Dr.Yeah Kim Leng.

Moving then to April 3, 2023, we organized the 2023 Bank Negara Malaysia Governor’s Address on the Malaysian Economy & Panel Discussion. This coincided with the release of the BNM Annual Report 2023. The event took place at Khazanah Auditorium, Asia School of Business, with the collaboration of Professor Ozer Karagedikli, Director of the Central Banking Research Centre, who also participated as one of our panellists. BNM’s Assistant Governor Fraziali Ismail delivered the notable keynote address. The chairmanship of the 2023 BNM annual report was held by MEA’s Deputy Vice President, Professor Evelyn S. Devadason. Other distinguished panellists included Bank Muamalat Malaysia Berhad’s Chief Economist and Social Finance, Dr. Mohd Afzanizam, and Retirement Funds Incorporation (KWAP) Vice President & Economist, Ms. Sendi Anak Tan.

Continuing our efforts, we co-hosted a roundtable discussion with the ASEAN+3 Macroeconomic Research Office (AMRO) for the second time on May 23, 2023, at Sasana Kijang, Bank Negara Malaysia. This closed-door event, entitled “Moving Toward Malaysia’s Sustainable Growth,” aimed to facilitate dialogue between AMRO and country experts, to enhance understanding of the Malaysian economy. Discussions encompassed various topics including tax reforms for fiscal sustainability, pension reform amid an aging population, and Malaysia’s low-carbon transition: challenges and opportunities.

On June 27, 2023, Yayasan MEA and the Malaysian Economic Association (MEA) successfully convened their 32nd and 60th Annual General Meetings respectively at the Econo-Cube, Faculty of Business and Economics, Universiti Malaya. The AGM adopted a hybrid format, with some Trustees, Exco members, and members present in person while others joined in via Zoom.

This was followed by a webinar on September 21, 2023, entitled the Underground Economy in Malaysia: How Bad Is It? This webinar, organised exclusively for MEA members, was moderated by Dr. Subramaniam Pillay, an MEA Exco member. Four experts, Dr. Marliza Mohamed, a retired LHDN researcher on the underground economy, Dato’ Sri Subromaniam Tholasy, former Director General of Malaysia’s Royal Malaysian Customs Department, Mr.Pankajkumar Bipichandra, and Mr. Poobalan Tana Shingam provided detailed insights on the topic. The webinar garnered significant interest, with over 100 participants joining through Zoom platform and Facebook Live.

In October 2023, we hosted two pivotal events: the National Financial Literacy Symposium (NFLS) 2023 and the 2024 Post Budget Debate. From 10 to 11 October 2023, MEA collaborated with the Financial Education Network (FEN) to organize NFLS 2023 at Sasana Kijang, Kuala Lumpur, under the theme "Enhancing Financial Literacy and Resilience in the Context of National and Global Uncertainties." NFLS 2023 was co-hosted by Bank Negara Malaysia, the Employees Provident Fund and Agensi Kaunseling dan Pengurusan Kredit, in conjunction with FEN's Financial Literacy Month 2023. The two-day Symposium featured a blend of panel discussions and research paper presentations by domestic, regional and international experts. Forty-two research papers were submitted, covering various aspects of financial literacy such as financial consumer behaviour, retirement planning, dynamics of the gig economy, and the advancement of digital financial products and services. Ten submissions were shortlisted and presented at the Symposium, with awards presented to the three best papers.

MEA successfully organized its annual flagship event, the 2024 Post Budget Debate, at the Sime Darby Convention Centre on October 16th, 2023. We had the honour of having the Secretary General of the Treasury, Ministry of Finance, Datuk Johan Mahmood Merican, to deliver the keynote address following the tabling of Budget 2024 at the Dewan Rakyat on October 13, 2023, by Prime Minister Datuk Seri Anwar Ibrahim. This event was sponsored by CGS-CIMB Securities Sdn. Bhd. and supported by The Malaysian Institute of Certified Public Accountants (MICPA), Financial Planning Association of Malaysia (FPAM), Federation of Public Listed Companies Bhd (FPLC), and Malaysian Finance Association (MFA). Professor Dr. Ong Kian Ming from Taylor’s University, moderated the session while the panellists included Ms. Nadia Jalil from CIMB, Dr. Ray Choy from Malaysian Rating Corporation Berhad, and Mr. Dave Williams from the U.S. Embassy in Kuala Lumpur.

The 46th Federation of ASEAN Economic Associations (FAEA) Conference was held from November 17th to 18th, 2023, at The Alana Hotel and Convention Centre in Yogyakarta, Indonesia. Themed "Empowering Collaboration to Shape ASEAN Economic Sustainability," the conference advocated stronger collaboration within and throughout ASEAN for a prosperous and sustainable economic growth. The conference was attended by the MEA’s President, Professor Datuk Dr. Norma Mansor and Honorary Secretary Associate Professor Dr. Santha Chenayah. Two papers presented from Malaysia by Professor Dr. Hooy Chee Wooi and Associate Professor Dr. Lau Wee Yeap.

Lastly, on behalf of the Exco members, I extend our sincere gratitude to MEA members, business associates and friends for their steadfast support and contributions to MEA initiatives. Acknowledgements

The Association wishes to express its gratitude and appreciation to the following:

• The Dean, Faculty of Business and Economics, University Malaya, who co-organised the Association's activities.
• The Faculty of Business and Economics, Universiti Malaya, for their cooperation and support.
• All representatives of the press and media for providing publicity on the activities of the Association.
• MJES Editorial Board and sub-committee members.
• Bank Negara Malaysia.
• Ministry of Finance.
• Agensi Kaunseling & Pengurusan Kredit.
• Employees Provident Fund.
• Asia School of Business.
• Panelists and speakers who participated in the MEA events.
• Donors and Sponsors.
• Organisations and Individuals who supported MEA events.
• MEA Exco Members and Sescretariat.