Growth needed: The next five years will thus be crucial for Malaysia if it is to become a high-income nation. — FAIHAN GHANI/The Star
HERE’S the good news – the World Bank has declared Kuala Lumpur, Labuan, Penang, Sarawak and Selangor to be high-income states. The bad news, though, is that Malaysia as a whole is not there yet.
This is the latest high-income data based on Gross National Income (GNI), which is the total amount of factor incomes earned by the residents of a country. The country’s GNI per capita of RM53,400 annually falls short of the high-income threshold of RM63,000.
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Wong Chun Wai
Wong Chun Wai began his career as a journalist in Penang, and has served The Star for over 35 years in various capacities and roles. He is now group editorial and corporate affairs adviser to the group, after having served as group managing director/chief executive officer. On The Beat made its debut on Feb 23 1997 and Chun Wai has penned the column weekly without a break, except for the occasional press holiday when the paper was not published. In May 2011, a compilation of selected articles of On The Beat was published as a book and launched in conjunction with his 50th birthday. Chun Wai also comments on current issues in The Star.
