Economy

ECONOMY

Malaysia remains one of the world's largest producers of rubber, palm oil, timber and tin. In recent years, the manufacturing and service (notably the tourism sector) industries have become main contributors to the economy. Exports of electronic products are one of the main contributors of the nation's economic growth. In fact, Malaysia is one of the few Asian countries that has its own car manufacturing industry. The stability of the economy and its political scenario has managed to attract tremendous foreign investment into the country. The country's major trading partners are Japan, the United States, Singapore, the United Kingdom and Germany.


CURRENCY

The Malaysian unit of currency is the Ringgit Malaysia (RM), which is divided into 100 sen. Currency comes in notes of RM1, RM5, RM10, RM50 and RM100. Coins are issued in 1 sen, 5 sen, 10 sen, 20 sen, 50 sen and RM1 denominations. MYR3.7.All currencies brought into and out of the country must be declared by a Travelers Declaration Form, which can be obtained at Malaysia's entry and exit points. Due to government regulations, non-residents are not allowed to bring in and out of the country more than RM1000.00 at any given time, but foreign currencies are not regulated.All commercial banks are authorized foreign exchange dealers. Major hotels, however, are only licensed to buy or accept foreign currencies in the form of notes and travelers' checks. Currency Converter


TIME ZONE

Malaysia is eight hours ahead of GMT (Greenwich Meridian Time), 16 hours ahead of US Pacific Standard Time and 13 hours ahead of Eastern Standard Time. Daylight Saving Time is not applicable to the country.


ELECTRICITY AND VOLTAGE

Malaysia's electric supply is on a 240-volt 50-cycle system. Visitors from countries using different electricity voltage systems are advised to bring their converters and adapters.


WATER

Water is generally safe to be consumed from the tap, though boiling prior to consumption is advisable.

People

POPULATION AND DEMOGRAPHIC

Malaysia is a land of ready smiles and incredible variety. The rich diversity of experiences and contrasts beckons the worldly traveler, from city-lovers to adventure-seekers and much, much more. Here, in this land of friendly and fascinating people, you can get a taste of all of Asia in a single destination. Come mingle with the country's population of more than 25 million people, which consists of Malays (the nation's biggest ethnicity) and other indigenous groups including the Orang Asli, Dayaks, Kadazan Dusun, Melanau, Murut and more. Joining them are the large Chinese and Indian populations, and groups of mixed descent, such as the Baba-Nyonyas and Eurasians of Portuguese and other European ancestry, as well as other immigrant Asian ethnicities. The Malays and the native tribal groups make up approximately 60% of the total population. Chinese 30%, Indians 8% and the balance a melting pot of other races and cultures. Four-fifths of the population resides in West Malaysia .

LANGUAGE

Although Bahasa Malaysia is the official language, English is widely spoken. Other prominent languages spoken - Mandarin, other Chinese dialects, Tamil, Punjabi.

RELIGION

Although the official religion of Malaysia is Islam, each person is free to practice his or her own faith. The abundance of temples, mosques, churches and other places of worship bears testament to this. Islam in Malaysia is rather tolerant and does not comply with the fundamental belief of extremists.