Survey At A Glance
Consumers Maintain Coutiously Positive Outlook
o Consumer sentiment continues to cautiously improve
o Present finances unchanged for most
o Improvement in jobs, income expectation
o Inflation worries continue to soften
o Declining spending plans
For the full report, please contact us at
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Raja Solan is an accomplished professional with a strong academic foundation, including a PhD in Economics from the National University of Malaysia (2023), a Master’s in Economics from National University of Malaysia (2016), and Bachelor’s in Economics (Natural Resource) from University Malaysia Terengganu (2015). His research interest is Behavioral Economics, Sentiment Analysis, Big Data Analysis and Financial Economics. Able to operate some data analysis software such as EViews, Stata, RStudio and Pyhton.
He also managed to land a position as an Economics lecturer in President College Kuala Lumpur (2016-2017) and Economy and Business lecturer in Mahsa University (2023-2024).
Dass started his career as an Economist and then as Senior Economist at Bank Negara Malaysia between 1988 to 1997. He worked in various equity investment organisations. Most recently, he was the Chief Economist/Head of Research at AmBank from 2013 to 2023.
He also served as a Special Officer, Economic Action Council, Economic Planning Unit, Malaysia (May 2020 – 31 January 2023). He focused on strategic issues and policies during the Covid-19 pandemic in relation to various economic and social policies, industries and businesses. He worked extensively with various Ministries, Agencies and Associations on the reforms and structural issues.
He assisted the Ministry of International Trade and Industry, Malaysia between 2011 – 2013. Dass was seconded to Securities Industry Development Corporation (SIDC), Securities Commission.
2008 Dass was selected under the United Nation Development Program (UNDP), United Nation to carry out a feasible study for the government of United Arab Emirates to set up the “Data Dissemination System” in 2002.
He has a PhD in Economics from University Utara Malaysia (2018), Masters Economics & Finance University of Bristol, UK (1996) and the first batch to graduate from International Islamic University Malaysia with Bachelor Economics (1997)
The Board of Trustees is pleased to have Dass to lead MIER now where important and new strategies are vital for our economy to forge ahead to become a high income high growth nation.
Norfaizah has been in MIER for 25 years. She is the Personal Assistant/Secretary in the Executive Director’s Office. Throughout her career journey, she had contributed immensely to MIER’s trajectory.
A Finance graduate from Universiti Teknologi MARA (UiTM) in 1994, Datu Dr. Muhammad Abdullah Bin Haji Zaidel attained a PhD in Finance at University Malaysia Sarawak (UNIMAS) in 2014. He is also a Harvard Business School (HBS) Alumni. He is now the Deputy State Secretary Sarawak (Economic Planning and Development). Prior to the appointment, he was a senior Finance lecturer at Faculty of Economic and Business, Universiti Malaysia Sarawak (UNIMAS) and subsequently appointed as Special Administrative Officer to the Right Honourable Premier of Sarawak in charge of Project Strategy and Coordination. The role is specifically responsible for initiating, implementing and coordination of high impact economic development project for Sarawak. He was then promoted to the position of Director, Economic Planning Unit Sarawak from 2019 to 2022.
Mageswari is our receptionist at MIER. She has served here for 29 years.
Mohamad Azlizal has been with MIER since 2019 and has been contributing diligently in the field of maintenance and IT.
Isnani is currently the Information Officer for Malaysian Institute of Economic Research. She has been in MIER for 21 years and has contributed in the administration area significantly.
Sarimah is currently the Administration and Finance Division Officer for Malaysian Institute of Economic Research. She has been in MIER since 1996 and have greatly contributed in managing MIER’s welfare.
Siti Syamila is currently a research officer at the Malaysian Institute of Economic Research. She holds a degree in Bachelor of Statistics from Universiti Institut Teknologi MARA (UiTM) and is skilled in data mining and logging for Input-Output analysis. She has conducted many strategic development studies for MIER’s many clients over the years.
Nur Azmila is currently a Research Officer at the Malaysian Institute of Economic Research. She holds a Bachelor’s degree in Statistics from Universiti Institut Teknologi MARA (UiTM) and is experienced in data mining and logging for Input-Output analysis and other economic evaluation methods. Over the years, she has conducted many policy studies for MIER clients from the public and private sectors.
Dr. Shankaran Nambiar is Head of Research and Senior Research Fellow at the Malaysian Institute of Economic Research (MIER). He is a member of the academic advisory council of the Economic Research Institute for ASEAN and East Asia (ERIA) and a visiting fellow at the Crawford School of Public Policy, Australian National University. Dr Nambiar has been a visiting scholar at the International Monetary Fund, a visting fellow at the ASEAN Studies Center, Universitas Gadjah Mada and at the ISEAS-Yusof Ishak Institute, Singapore. His op-eds have appeared in the Nikkei Asian Review, the Interpreter, Jakarta Post, East West Center Bulletin, East Asia Forum, New Mandala, the Edge, NST and the Sun. He is author of Sen’s Capability Approach and Institutions and four books on the Malaysian economy.
Professor Dr Geoffrey Williams is currently Malaysian Institute of Economic Research’s Non-resident Senior Fellow. He holds a PhD from Cambridge University and currently the Provost for Research and Innovation at the Malaysia University of Science and Technology (MUST).
Dr Shaufique F. Sidique is a Professor of Agricultural Economics at Universiti Putra Malaysia (UPM) and Director of its Institute of Plantation Studies. His research interests are mainly in agriculture policy, food security and resource economics. His previous research is on smallholder livelihoods in palm farming, the valuation of artificial reefs and marine protected areas in Malaysia, and the welfare of rural artisanal fishing households. He has served as a consultant and trainer to private companies and government agencies, including the Economic Planning Unit for Selangor, the Department of Fisheries, the Malaysian Palm Oil Council, the Economic Planning Unit, the Prime Minister’s Department and the Ministry of Science, Technology and Innovation. Professor Shaufique holds a PhD in agricultural economics from Michigan State University. He received his bachelor’s degree in accounting from Cardiff University.
Dato’ Sri Subromaniam Tholasy, with a distinguished 35-year career, retired as Director General of The Royal Malaysian Customs in 2019. He later chaired the Customs Oversight Committee until April 2020 at the Ministry of Finance. He held various key roles, including ASEAN Customs Enforcement and Compliance Committee Chair, and led the successful GST implementation in Malaysia. With expertise in Customs Enforcement, Valuation, and more, he now advises entities like Sunway Group and Institute for Development of Economics and Finance (INDEF), Indonesia. Dato’ Sri Subromaniam holds a Bachelor’s degree in Nuclear Science, an MBA from University of New Hampshire, and an Executive Leadership certificate from University of Oxford’s Said Business School.
Dato’ Aminudin Hashim is a highly accomplished professional with an extensive background spanning over 27 years. He has earned recognition for his academic achievements, including completing the Leaders in Development Program at Harvard Kennedy School in 2015 and receiving the prestigious Sir Ian Morrow Award for the World Best Strategy & Marketing final examination from the Chartered Institute of Management Accountants (CIMA) in 1996. With diverse experience across industries such as mining, food security, renewable energy, and more, he has held key roles in Strategy and Management Consulting, worked with Rating Agencies, Development Agencies, Multinational Corporations, and Government Link Companies. His notable contributions include serving as the founding CEO of Menteri Besar Incorporated (MB Inc.) in Perak, where he revitalized the mineral sector and oversaw substantial asset growth. Presently, Dato’ Aminudin Hashim holds significant positions, serving as an Independent Non-Executive Director on the boards of LBS Bina Berhad Group and Olympia Industries Berhad. He is also the Group Executive Chairman of the Amazing Group of Companies, which has interests in Hospitality, Sustainable Mineral Development, and Food Security. Additionally, he acts as the Executive Director of Shoraka Global Advisors, specializing in investment advisory practices in ASEAN and the Gulf. His diverse expertise and achievements reflect his invaluable contributions to various sectors and organizations.
With over 40 years of extensive experience, Dr. Veerinderjeet Singh is a renowned Malaysian expert in accountancy and taxation. His journey spans key roles at Price Waterhouse Tax Services, University of Malaya, Arthur Andersen, and Ernst & Young. Dr. Singh’s influential publications have contributed to the field’s understanding. He has held leadership positions in prestigious bodies like the Malaysian Institute of Accountants (MIA), the Malaysian Institute of Certified Public Accountants (MICPA), and the Chartered Tax Institute of Malaysia (CTIM). His international engagements include the International Fiscal Association (IFA) and Taxand Global. Dr. Singh is an influential presence on boards such as Malaysian Rating Corporation Berhad, AmBank (M) Berhad, and UMW Holdings Berhad, where he chairs audit committees. His impact extends to Tricor Malaysia, Monash University, Malaysia, and the Monash Business School Industry Advisory Board, showcasing his diverse contributions across sectors.
Muhammad Afiq Abdullah is an accomplished professional with a strong academic foundation, including a PGDip in Strategy and Innovation for Business from the University of Oxford, a Master’s in Economics and Business Strategy from Imperial College London, and a Bachelor’s in Financial Engineering & Investment. His extensive work experience encompasses leadership roles in corporate strategy, business development, and project management, including positions at Bursa Malaysia Berhad, PLUS Malaysia Berhad Group, and Great Eastern Malaysia Berhad. Afiq has a track record of spearheading strategic initiatives, fostering synergistic partnerships, and driving revenue growth. He has also undertaken key consulting roles, contributing to national transformation efforts and economic development. His achievements include speaking at conferences, ranking in investment challenges, and holding various professional certifications from renowned institutions. Overall, Afiq’s diverse skill set and proven leadership make him a valuable asset in the fields of strategy, innovation, and business development.
Maas has been in MIER for 26 years. He served as a dispatcher before being assigned as the chaffeur. A veteran football player and used to play for Satria Jaya FC.
Tan Sri Effendi is currently the Chairman of Enspire Ventures, an investment holding company involved in food production, higher education, property development, construction and media. Tan Sri Effendi was the Federal Minister of Agriculture Malaysia (1999-2004) during which time he initiated the modernization and commercialization of agriculture. His last post in Cabinet was the Minister in the Prime Minister’s Department in charge of Economic Planning Unit (EPU) (2006-2008). Effendi also served as a state assemblyman (ADUN) in Sarawak for nine years (between 1991 to 1999). He was a member of Federal Parliament from 1999 to 2004 and later a Senator in the Upper House of Parliament (2006 to 2011). He retired from politics in 2011.
Tan Sri Effendi was most recently the Executive Chairman of Encorp Berhad, a property development company he founded in 1995 and listed on the main board of the KLSE in February 2003, which he recently divested. In media Tan Sri Effendi had collaborated with Bloomberg L.P and was Chairman of Bloomberg TV Malaysia (2014 – 2016). He also founded ntv7 in 1998, the private free-to-air TV channel that he has since divested. Tan Sri Effendi was Executive Chairman of Sarawak Economic Development Corporation (SEDC), which he led for 15 years (1981-1995). He was the Chairman of Bank Utama (now part of RHB Banking Group) between 1990 and 1995 during which time he led its turnaround into one of the major banks in Malaysia then. Tan Sri Effendi attended the prestigious Malay College Kuala Kangsar from 1961 to 1967. Effendi holds a Bachelor of Arts (Hons) degree majoring in Development Administration from the University of Tasmania. He was also conferred an Honorary Degree of the Doctor of Law from the same university in October 2000. He was made Adjunct Professor under the Faculty of Business at the University of Tasmania in November 2008. In September 2013, Swinburne University appointed Effendi as Adjunct Professor within the Faculty of Business and Design in recognition of his well-established success in Business and Property Development. In October 2017, Universiti Kebangsaan Malaysia (Malaysian National University) awarded him Honorary Doctorate Degree (Public and Corporate Leadership) in appreciation for his services to the development of education in the region, particularly in the area of public and corporate leadership.
Tan Sri Dr. Sulaiman Mahbob was once a career civil servant in the Malaysian Government and his last designation was the Director‐General of Economic Planning Unit (EPU 2006 – 2009) of the Prime Minister’s Dept. During his service, he had also served in the Ministry of Finance (Economics and Budget Divisions) and the Ministry of Domestic Trade & Consumer Affairs. Currently, Sulaiman serves as a member of the Board of Directors Institute of Strategic and International Studies (ISIS) and Perbadanan Tabung Pendidikan Tinggi Nasional (PTPTN). He was also a Member of the Competition Appeal Tribunal between 2014 and 2017. Sulaiman had also been the Chairman of Malaysia Investment Development Authority (2010 – 2012) and was a board member of Perbadanan Insurance Deposit Malaysia (PIDM) and Malaysian Communications and Multimedia Commission (MCMC) for several years. He is also an Adjunct Professor at University of Malaya (INPUMA) and University Tun Razak (UNIRAZAK) where he teaches Economics and Public Policy. Dr. Sulaiman studied economics at University of Malaya and then at the University of London, and finished his PhD at Maxwell School, Syracuse University, USA. He was the President of Malaysian Economic Association throughout 2015 ‐ 2018. Dr. Sulaiman frequently contributes articles on Economic Policy, Public Finance and Development to the local press, in particular New Straits Times (NST). He has also given lectures abroad on Malaysian Economy and Public Policy, specifically in Australia, New Zealand, Japan, South Korea, Pakistan and Sudan.
He has served as a Board member of the Malaysian Productivity Corporation, Malaysian Industrial Development Authority and Bank Negara Malaysia. He was also a Member of the National Economic Consultative Council (MAPEN I and II), the Malaysian Communications and Multimedia Commission and a member of the Advisory Board of the Malaysian Anti-Corruption Commission. He was appointed as Co-Chair of PEMUDAH the “Special Task Force to Facilitate Business” together with the Chief Secretary of Malaysia from 2007 to 2013. In 2013, he was appointed as member of the Economic Council of the Prime Minister’s office. He is currently the Chairman of Royal Selangor International Sdn. Bhd. and GS1 Malaysia Berhad. He is a director of TAHPS Group Berhad, and RAM Holdings Berhad. He is also a Fellow of the Academy of Sciences and the Malaysian Institute of Management. Tan Sri was previously the President of the Federation of Malaysian Manufacturers (“FMM”).
Dato’ Dr M Shanmughalingam, MD/CEO, Trilogic Sdn Bhd. Helped list 6 companies, Main Board, Bursa Malaysia. Ex-Dir, Delloyd Ventures Bhd, Mamee Double Decker (M) Bhd, PBA Holdings Bhd, listed on Main Board, CIMB (L) Ltd, CIMB Discount House Bhd, CIMB Securities Sdn Bhd, Hextar Holdings Bhd, EON, MIDF Aberdeen Asset Management Sdn Bhd, Exec C’tee, MIMB, (subsid, MIDF, assoc. Barclays Bank Group, UK), PTD Alumni Assoc, Board, VIOBA Foundn, Selectors Board, Rhodes Scholarship to Oxford Univ.. MD Sri Inderajaya Sdn Bhd (1992 – 96), GM, PETRONAS (1979 – 91), Dep. Sec. (Econ) the Treasury, Min of Finance (1962 – 78). Fellow, Econ. Dev Inst. World Bank.On invitation by Harvard Univ, helped design new Exec. Program for Leaders in Dev: Managing Economic and Political Reform developed jointly by Kennedy School of Govt and Harvard Inst for International Dev, Harvard Univ, Cambridge, Mass, USA. Honours (Econ), Univ. Malaya, Masters, Harvard and DPhil, Oxford universities. At Harvard, first with 8 A’s and admitted to Ph.D. programme without formal application. At Oxford (Balliol college) won 3 prizes. Chapter on Malaysia, Laswell, (Yale) Lerner (MIT) and Montgomery (Harvard) ed. Values and Development: Appraising Asian Experience, MIT Press. Quoted in TIME Magazine cover story on Tun Dr Mahathir, then Prime Minister, Malaysia Dec 9 1996. Stories and poems in 37 national and international anthologies and broadcasts. Producers from Australia and New Zealand offered to make movies of his short stories. Published with 3 Nobel prize-winners in London, UK. Latest publication Marriage and Mutton Curry, Malaysian bestseller with international prize winning short stories, audiobook, Storytel Europe. Royal book launch by HRH Nazrin Shah, Sultan Perak state and Deputy King.
Tan Sri Dato’ A. Ghani Othman is currently the Chairman of Sime Darby Plantation Berhad. He is also a member of the Board of Trustees of the World Islamic Economic Forum (WIEF) Foundation. Tan Sri A. Ghani holds a Bachelor’s degree in Economics (Honours) from the La Trobe University in Melbourne, Australia and a Master’s degree in Political Economy from the University of Queensland, Australia. He began his career in 1974 as a lecturer at the Faculty of Economics, University of Malaya and later served as the Dean for the Faculty of Economics and Administration, University of Malaya from 1980 to 1984.Tan Sri A. Ghani was appointed as a Member of the Senate in December 1984 and subsequently elected as a Member of Parliament for Ledang in August 1986. He was later appointed the Deputy Minister of Energy, Telecommunications and Post, and thereafter became the Deputy Minister of Finance in 1990. In December 1993, he was appointed the Minister of Youth and Sports and served in that capacity until March 1995. Tan Sri A. Ghani has served as the Chief Minister of Johor from March 1995 to May 2013. He was also the Chairman of the Board of Directors of Johor Corporation, Sime Darby Berhad and Sime Darby Property Berhad.
Datuk Dr Hamzah Kassim has a very diverse professional career that spans over 35 years working across global consulting firms and public sector . He is the Co-founder of iA Group an investment holding company with interest in management and technology consulting ,human capital development . Prior to iA Group he was Executive Director/ Partner of the international firm of Ernst and Young , Country Head of the global consulting firm of Cap Gemini and managing director of PA Consulting Group. During his many years in management consulting he had led large scale strategy, business and IT transformation assignments across several industry sectors and government in Malaysia and Middle East. Many of these assignments involved projects in merger integration, large scale IT transformation , socio economic transformation , new business creation , strategy and transformation in banking, telecommunication and agrobased industry . Dr Hamzah also participated in many thought- leadership programs in Malaysia and many parts of the world. He is regular moderator and speaker in Perdana Leadership and Khazanah Megatrend and currently also adjunct professor University Malaya in the Corporate Strategy Center.
He is currently Chairman of Hong Leong Islamic Bank , board member of Hong Leong Bank, Advisory Board Member of Malaysia Anti- Corruption Commission and Board of Trustee of Malaysian Institute of Economic Research .He was also inducted as member of the Adam Smith Panmure House Society, a socio economic think tank in Edinburgh. Dr Hamzah was member of the National Economic Advisory Council from 2009 -2011 tasked to develop the New Economic Model and member of special task force chaired by the Prime Minister on the implementation of the 9th Malaysia Plan . Dr Hamzah also served as Chairman of Heriot Watt University Malaysia, Chairman of Encorp Bhd and board member of University Kebangsaan Malaysia.
