KUALA LUMPUR, Jan 14 (Bernama) -- Prime Minister Datuk Seri Najib Tun Razak called on the captains of the private sector corporations to elevate their organisations' status from being Malaysian companies to regional players and ultimately, global leaders.
This is the challenge for corporate leaders as Malaysia moves into the next stage of economic development, from being production-based to an innovation-driven and knowledge-based economy, he said.
"You must strive to build world class companies as well as nurture and retain world class talent," he said in his speech at the Malaysia's CEO of the Year Award 2010 here, Thursday.
His speech text was read by International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
The Prime Minister said that although the challenges ahead were numerous and there was much uncertaintly, one thing certain was that change was the only constant.
"You have to grow and manage your businesses amidst constantly changing economic scenarios," he added.
Najib said the government had outlined various programmes such as the Government Transformation Programme and Economic Transformation Programme under which reforms are being implemented to achieve economic growth targets and to become a high-income nation as well as cater to the needs of the people.
"On the economic front, we have our work cut out for us and that includes you, the CEOs and members of the private sector.
"ETP will not achieve its goal if we do not work as a united team with a common purpose on ensuring success. Thus, the success also depends on your active participation and commitment," he explained.
Najib stated the private sector had already committed RM106 billion in investments for 37 entry point projects that would generate 102,000 new jobs from a total of 131 entry point projects and 60 business opportunities identified.
He highlighted that Malaysia was also once again on the radar screens of many fund managers and foreign investors but that should not result in complacency as there were still many challenges for a small, open and trade dependent economy such as Malaysia.
There are still dark clouds on the international economy with uncertainty in the Euro zone, he said.
Najib also urged the CEOs who have the network both at home and abroad to assist by acting as talent scouts and helping the government to seek and engage those living abroad to consider how best they can contribute to the nation's transformation and development.
Despite the challenges in the global environment, Malaysian corporations continue to perform reasonably well as the bottom lines of many companies are healthy.
"However, there is a need for you (CEOs) to also distinguish yourselves not just by the profits alone but by innovation, best practices, increased productivity and enhanced competitiveness," he elaborated.
Meanwhile, Executive Chairman and Group Managing Director of Supermax Corporation Bhd, Datuk Seri Stanley Thai, bagged the Malaysia's CEO of the Year 2010 award.
Maxis Communications Bhd won the Corporate Nationhood Initiatives Award 2010 and The Sunway Group was selected for Special Mention in the Corporate Nationhood Initiatives Award 2010.
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