Mahathir: Malaysia has potential in aircraft manufacturing

Updated: Thursday November 14, 2013 MYT 7:33:06 AM

Mahathir: Malaysia has potential in aircraft manufacturing


KUALA LUMPUR: Malaysia has the potential to expand into the aircraft manufacturing industry by producing the parts and components at a low cost, said former prime minister Tun Dr Mahathir Mohamad. “Now that we have a national automotive industry, we can expand into aircraft; not by making our own but by producing parts, which we can do at a cheaper rate than Europe,” he said at the 4th Kuala Lumpur International Automotive Conference here yesterday.He was responding to a question from the floor on the next step for Malaysia towards being a developed nation.

He said information technology and electronics were important sectors that required engineering capability, one of the key factors for an industrialised nation.

Dr Mahathir also said the trade deficit in the automotive sector could be reduced through increasing export of national cars and limiting import of foreign cars.

“We are not generating enough wealth, even with income from our raw material exports, to pay for the items we import,” he said.

Later, Dr Mahathir told reporters that Malaysia needs more time to consider an Asean motor corporation, which involves spreading out heavy industries across the region to come up with an “Asean car”.

“The idea is good, but at the moment I don’t think we are ready. We have tried to distribute heavy industries across Asean, with each country having one heavy industry, but somehow it did not work out.

“We are talking about making an Asean car, where Malaysia hopes to play a big role.

“It will take time but I think it can be achieved in future,” he said.

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (, the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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