151-480: The Second Malaysia Plan ( Malay : Rancangan Malaysia Kedua ) was an economic development plan introduced by the government of Malaysia with the goal of implementing the Malaysian New Economic Policy (NEP). It lasted from 1971 to 1975 and aimed to "restructure" the society of Malaysia and reduce Malaysian Chinese and foreign dominance in the economy of Malaysia so as to improve
302-631: A moiré effect to prevent counterfeiting using photocopiers. Circulation for the first edition of this new RM50 banknote was eventually curtailed by the Central Bank due to the various Malaysia banks' automatic teller machines inability to accept it. The bank began to re-release the new series for general circulation beginning 15 July 2009 without the 50th Anniversary logo. This edition include new enhanced security features such as two color number fluorescents and security fibres. In May 2011, Central Bank of Malaysia had announced that they will introduce
453-399: A collector's commemorative. On 21 December 2007, Central Bank of Malaysia issued a commemorative 50 ringgit banknote to commemorate Malaysia's 50th Anniversary of Independence. The design was that of the 50 ringgit banknote of the fourth series, except with the additional logo of the 50th Anniversary of Independence at the top right of the reverse side, and the inscription "1957-2007" also on
604-555: A mid vowel [e, o] . Orthographic note : both /e/ and /ə/ are written with ⟨e⟩ . Orthographic /e, o/ are relatively rare, so the letter ⟨e⟩ usually represents /ə/ . There are some homographs; for example, perang is used for both /pəraŋ/ "war" and /peraŋ ~ piraŋ/ "blond". (In Indonesia, "blond" may be written perang or pirang .) Some analyses regard /ai, au, oi/ as diphthongs. However, [ai] and [au] can only occur in open syllables, such as cukai ("tax") and pulau ("island"). Words with
755-477: A minor 1971 modification on its edge to include " Bank Negara Malaysia " letterings. All coins have the initials GC on the reverse, below the Parliament House. It stands for Geoffrey Colley, Malaysia first coin series' designer. The 1 ringgit coin was never popular at the time due to being in conflict with a banknote of equal face value, similar to the current situation regarding the 1 dollar coin of
906-540: A new RM10 note with additional security features including the holographic strip previously only seen on the RM50 and RM100 notes. A new RM5 polymer banknote with a distinctive transparent window was also issued. Both new banknotes are almost identical to their original third series designs. At one time, Central Bank of Malaysia announced its intention to eventually phase out all paper notes and replace them with polymer notes. [REDACTED] [REDACTED] In early 2008,
1057-413: A new program to review the various social science curricula. The Second Malaysia Plan also hoped to increase the availability of vocational and technical training. Despite some attempts, little progress was made in improving the curriculum, which focused on providing a general education and made little room for vocational or technical training. Several new technical and vocational schools were built under
1208-502: A new series of banknotes to replace the current design that has been in circulation for around 15 years. The most highlighted part of the announcement is the re-introduction of the RM20 note, which was not included in the third series. The design of the new notes was announced on 21 December 2011, and the notes are expected to be put into circulation in the second half of 2012. The new series banknotes are legal tender and will co-circulate with
1359-503: A paltry 3% due to the global recession at the time. Despite the government's efforts to tackle unemployment, creating 600,000 new jobs during the Second Malaysia Plan, the number of unemployed actually increased between 1970 and 1975; in 1970, there were 275,000 unemployed, but by 1975, the number stood at 324,000. The Second Malaysia Plan was also forced to confront an unexpected problem: inflation . Between 1972 and 1975,
1510-434: A phonetic diphthong in a closed syllable, such as baik ("good") and laut ("sea"), are actually two syllables. An alternative analysis therefore treats the phonetic diphthongs [ai] , [au] and [oi] as a sequence of a monophthong plus an approximant: /aj/ , /aw/ and /oj/ respectively. There is a rule of vowel harmony : the non-open vowels /i, e, u, o/ in bisyllabic words must agree in height, so hidung ("nose")
1661-434: A riot which lasted two days, an incident later known as the 13 May Incident . Officially, around 200 people died—although others have given much larger estimates—with thousands left homeless, the majority of them Chinese. A state of emergency was declared, and Parliament was suspended. The National Operations Council (NOC) governed until 1971, when Parliament reconvened. The Second Malayan Five Year Plan (1961–1965)
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#17327796786181812-431: A root word ( affixation ), formation of a compound word (composition), or repetition of words or portions of words ( reduplication ). Nouns and verbs may be basic roots, but frequently they are derived from other words by means of prefixes , suffixes and circumfixes . Malay does not make use of grammatical gender , and there are only a few words that use natural gender; the same word is used for 'he' and 'she' which
1963-468: A theme named "Distinctively Malaysia" and are inspired from motifs of flora and fauna drawn from various cultures in Malaysia to "reflect the diversity and richness of Malaysia's national identity". The denominations issued are 5, 10, 20 and 50 sen. On 24 October 2011, Deputy Finance Minister Datuk Donald Lim named Poogsan Corporation of South Korea as the series' coin suppliers and the coins are minted at
2114-451: A total of 150,599 and 26,018 pieces of RM500 and RM1,000 notes (RM75,299,500 worth of RM500 notes and RM26,018,000.00 worth of RM1,000 notes) have yet to be "recalled" through the central bank. The ringgit lost 50% of its value against the US dollar between 1997 and 1998, and suffered general depreciation against other currencies between December 2001 and January 2005. As of 4 September 2008,
2265-519: A whole (as the United States is among Malaysia's largest trading partners). In response to the sharp drop of the ringgit in November 2016, Central Bank of Malaysia began a series of tougher crackdowns on under-the-counter non-deliverable forward trading of the ringgit in order to curb currency speculation. Since then, the currency has seen a steady but consistent rate of appreciation against
2416-454: Is dia or for 'his' and 'her' which is dia punya . There is no grammatical plural in Malay either; thus orang may mean either 'person' or 'people'. Verbs are not inflected for person or number, and they are not marked for tense; tense is instead denoted by time adverbs (such as 'yesterday') or by other tense indicators, such as sudah 'already' and belum 'not yet'. On the other hand, there
2567-456: Is a complex system of verb affixes to render nuances of meaning and to denote voice or intentional and accidental moods . Malay does not have a grammatical subject in the sense that English does. In intransitive clauses, the noun comes before the verb. When there is both an agent and an object , these are separated by the verb (OVA or AVO), with the difference encoded in the voice of the verb. OVA, commonly but inaccurately called "passive",
2718-430: Is allowed but * hedung is not. Pronunciation Pronunciation Pronunciation Study by Uri Tadmor which was published in 2003 shows that mutation of ⟨a⟩ in final open syllable is an areal feature. Specifically, it is an areal feature of Western Austronesia. Uri Tadmor classify those types into four groups as below. Malay is an agglutinative language , and new words are formed by three methods: attaching affixes onto
2869-590: Is also spoken in East Timor and parts of Thailand . Altogether, it is spoken by 290 million people (around 260 million in Indonesia alone in its own literary standard named " Indonesian ") across Maritime Southeast Asia . The language is pluricentric and a macrolanguage , i.e., several varieties of it are standardized as the national language ( bahasa kebangsaan or bahasa nasional ) of several nation states with various official names: in Malaysia, it
3020-479: Is designated as either Bahasa Malaysia (" Malaysian ") or also Bahasa Melayu ("Malay language"); in Singapore and Brunei, it is called Bahasa Melayu ("Malay language"); in Indonesia, an autonomous normative variety called Bahasa Indonesia (" Indonesian language ") is designated the bahasa persatuan/pemersatu ("unifying language" or lingua franca ) whereas the term "Malay" ( bahasa Melayu )
3171-482: Is divided into Bornean and Sumatran Malay; some of the most widely spoken Sumatran Malay dialects are Riau Malay , Langkat , Palembang Malay and Jambi Malay . Minangkabau , Kerinci and Bengkulu are believed to be Sumatran Malay descendants. Meanwhile, the Jakarta dialect (known as Betawi ) also belongs to the western Malay group. The eastern varieties, classified either as dialects or creoles , are spoken in
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#17327796786183322-477: Is domestically restricted to vernacular varieties of Malay indigenous to areas of Central to Southern Sumatra and West Kalimantan . Classical Malay , also called Court Malay, was the literary standard of the pre-colonial Malacca and Johor Sultanates and so the language is sometimes called Malacca, Johor or Riau Malay (or various combinations of those names) to distinguish it from the various other Malayic languages . According to Ethnologue 16, several of
3473-444: Is in force, which was first announced in 2007 by Central Bank of Malaysia, in an attempt to render the 1 sen coin irrelevant. Individual items and services can still be priced in multiples of 1 sen with the final totalled rounded to the nearest 5 sen. For example, purchasing two items priced RM4.88 and RM3.14, totalling RM8.02, would then be rounded to RM8.00. If each item had been individually rounded (to RM4.90 and RM3.15 respectively)
3624-593: Is minted by the Kilang Wang Central Bank of Malaysia and was launched on 17 July 2001 by Central Bank of Malaysia, making Malaysia the twelfth country to issue its own gold bullion coins. Like other bullion coins issued around the world, the Kijang Emas is primarily used as an investment rather than in day-to-day circulation. The purchase and resale price of Kijang Emas is determined by the prevailing international gold market price. Current price of
3775-623: Is not a tonal language . The consonants of Malaysian and also Indonesian are shown below. Non-native consonants that only occur in borrowed words, principally from Arabic, Dutch and English, are shown in brackets. Orthographic note : The sounds are represented orthographically by their symbols as above, except: Loans from Arabic : Malay originally had four vowels, but in many dialects today, including Standard Malay, it has six, with /i/ split into /i, e/ and /u/ split into /u, o/ . Many words are commonly pronounced variably, with either [i, u] or [e, o] , and relatively few words require
3926-569: Is not readily intelligible with the standard language , and the same is true with some lects on the Malay Peninsula such as Kedah Malay . However, both Brunei and Kedah are quite close. Malay is now written using the Latin script , known as Rumi in Brunei, Malaysia and Singapore or Latin in Indonesia, although an Arabic script called Arab Melayu or Jawi also exists. Latin script
4077-595: Is official in Malaysia, Singapore, and Indonesia. Malay uses Hindu-Arabic numerals . Rumi (Latin) and Jawi are co-official in Brunei only. Names of institutions and organisations have to use Jawi and Rumi (Latin) scripts. Jawi is used fully in schools, especially the religious school, sekolah agama , which is compulsory during the afternoon for Muslim students aged from around 6–7 up to 12–14. Efforts are currently being undertaken to preserve Jawi in Malaysia, and students taking Malay language examinations in Malaysia have
4228-521: Is similar to Kelantanese Malay, but the language has no official status or recognition. Owing to earlier contact with the Philippines , Malay words—such as dalam hati (sympathy), luwalhati (glory), tengah hari (midday), sedap (delicious)—have evolved and been integrated into Tagalog and other Philippine languages . By contrast, Indonesian has successfully become the lingua franca for its disparate islands and ethnic groups, in part because
4379-624: Is the basic and most common word order. The Malay language has many words borrowed from Arabic (in particular religious terms), Sanskrit , Tamil , certain Sinitic languages , Persian (due to historical status of Malay Archipelago as a trading hub), and more recently, Portuguese , Dutch and English (in particular many scientific and technological terms). There is a group of closely related languages spoken by Malays and related peoples across Brunei , Indonesia , Malaysia , Singapore , Southern Thailand , Kampung Alor in East Timor , and
4530-525: Is the lack of possessive pronouns (and suffixes) in eastern dialects. Manado uses the verb pe and Ambon pu (from Malay punya 'to have') to mark possession. So 'my name' and 'our house" are translated in western Malay as namaku and rumah kita but kita pe nama and torang pe rumah in Manado and beta pu nama , katong pu rumah in Ambon dialect. The pronunciation may vary in western dialects, especially
4681-757: Is thought to be derived from the Thai word baht . e.g. 50 sen is lima kupang in Malay or 'samah' in the Kelantan dialect and gōo-pua̍t (五鏺/鈸) in Hokkien. The Tamil speaking communities in Malaysia use veḷḷi (வெள்ளி) meaning "silver" in Tamil to refer to ringgit , while for sen , the word kācu (காசு) is used, from which the English word "cash" is derived. The Spanish-American silver dollar brought over by
Second Malaysia Plan - Misplaced Pages Continue
4832-566: The lingua franca of the region during the Malacca Sultanate era (1402–1511). It was the period the Malay language developed rapidly under the influence of Islamic literature. The development changed the nature of the language with massive infusion of Arabic , Sanskrit , and Tamil vocabularies, called Classical Malay . Under the Sultanate of Malacca the language evolved into a form recognisable to speakers of modern Malay. When
4983-477: The 1998 Commonwealth Games in Kuala Lumpur , a commemorative RM50 polymer banknote was issued on 1 June 1998. This was the first polymer banknote to be issued by Central Bank of Malaysia and was printed by Note Printing Australia (NPA). A total of 500,000 sets were issued. They were sold in special packaging and at a premium price of 80 ringgit. This note is hardly ever seen in normal usage, its use being
5134-606: The 2015–16 Chinese stock market turbulence and the effects of the 2016 United States presidential election results. The currency's value fell from an average of 3.20 MYR/USD in mid-2014 to around 3.70 MYR/USD by early 2015; with China being Malaysia's largest trading partner, a Chinese stock market crash in June 2015 triggered another plunge in value for the ringgit, which reached levels unseen since 1998 at lows of 4.43 MYR/USD in September 2015, before stabilising around 4.10 to 4.20 to
5285-505: The Brunei dollar are also called ringgit in Malay (currencies such as the US and Australian dollars are translated as dolar ), although nowadays the Singapore dollar is more commonly called dolar in Malay. To differentiate between the three currencies, the Malaysian currency is referred to as Ringgit Malaysia , hence the official abbreviation and currency symbol RM . Internationally,
5436-624: The Cham alphabet are used by the Chams of Vietnam and Cambodia . Old Malay was written using Pallava and Kawi script, as evident from several inscription stones in the Malay region. Starting from the era of kingdom of Pasai and throughout the golden age of the Malacca Sultanate, Jawi gradually replaced these scripts as the most commonly used script in the Malay region. Starting from the 17th century, under Dutch and British influence, Jawi
5587-666: The China–United States trade war , selloff panic from other emerging markets, as well as uncertainty in economic policy following an upset by the Pakatan Harapan coalition in the 2018 general election . With the exception of the Euro, the currency's has also seen some recovery of value to pre-late 2016 levels against other major currencies, including the renminbi, British pound, Australian dollar, Japanese yen and Singaporean dollar, but remains less valuable overall than before
5738-633: The Constitution requires the government to set quotas for the dispensation of scholarships, employment in the civil service, etc. targeted at improving the economic status of the Malays. However, the First Malaysia Plan —whose approach had been dependent on the Malays "availing themselves of these facilities and services and putting them to good use"—failed in addressing the economic imbalance. Its policies also resulted in discontent among
5889-537: The Malayan dollar and the Malaya and British Borneo dollar , and eventually the modern-day Malaysian ringgit, Singapore dollar and Brunei dollar . On 12 June 1967, the Malaysian dollar, issued by the new central bank, Central Bank of Malaysia , replaced the Malaya and British Borneo dollar at par . The new currency retained all denominations of its predecessor except the $ 10,000 denomination, and also brought over
6040-813: The Malaysian Industrial Development Authority (MIDA) and Majlis Amanah Rakyat (MARA). Several more were also established under the plan, including the Perbadanan Nasional (PERNAS, or the National Trading Corporation), State Economic Development Corporation and the Urban Development Authority (UDA). PERNAS was established to purchase businesses and participate in joint ventures with private companies, as well as to develop nascent industries to be held in trust until
6191-603: The Malaysian dollar ) is the currency of Malaysia . Issued by the Central Bank of Malaysia , it is divided into 100 cents ( Malay : sen ). The word ringgit is an obsolete term for "jagged" in the Malay language . The word was originally used to refer to serrated edges. The first European coins to circulate widely in the region were Spanish " pieces of eight " or "cob", their crude appearance resembling stones, hence
Second Malaysia Plan - Misplaced Pages Continue
6342-747: The Manila galleons was the primary currency for international trade, used in Asia and the Americas from the 16th to 19th centuries; it was eventually called the ringgit . The various dollars introduced in the 19th century were itself derived from the Spanish dollar : the Straits dollar , Sarawak dollar and the British North Borneo dollar . From these dollars were derived their successor currencies
6493-760: The United States dollar . The coins of this first series were identical in size and composition to those of the former Malaya and British Borneo dollar . Though the Malayan currency union coins were withdrawn, they still appear in circulation on very rare occasions. Minting of the first sen series ended in 1989, when the second series was introduced. The older coins remain legal tender as of 2019, but have steadily declined in number and are seldom seen in circulation in Malaysia. The second series of sen coins entered circulation in late 1989, sporting completely redesigned obverses and reverses, but predominantly retaining
6644-478: The consumer price index (CPI) unexpectedly increased by 40%. In 1974, the inflation rate averaged 18%, although it was reduced to 7% by 1975. This new conundrum was therefore considered by the government when it set out the Third Malaysia Plan (1976–1980). Another overarching consequence of the Second Malaysia Plan was its efforts in crop diversification . Despite RISDA failing to meet its targets,
6795-552: The incorrect total would have been RM8.05. In practice, individual items will probably remain priced at so-called " price points " (or psychological pricing and odd-number pricing ) ending in 98 and 99 to maximise rounding gains for the vendor, especially in the case of single item purchases. Existing 1 sen coins in circulation remain legal tender for payments up to RM2.00. The third series of coins were announced on 25 July 2011, first being issued as commemorative coins to mark their release on 16 January 2012. The third series carry
6946-401: The national flower of Malaysia, on the upper half of the reverse. The second series was designed by Low Yee Kheng. In addition to changes on its obverse and reverse, the size of the 1 ringgit coin was also reduced from a diameter of 33 mm to 24 mm, and was minted from an alloy of copper, zinc and tin , as opposed to the first series' cupronickel. The $ symbol was brought over to
7097-411: The palm oil industry in Malaysia continued to grow. By 1998, palm oil was the second-largest contributor towards Malaysia's GDP, second only to electronics products. Overall, the Second Malaysia Plan made much more substantial progress towards reducing the inequity in the economy than its predecessor had. However, the emphasis on improving the lot of the Malays greatly worried the non-Malays, and when
7248-468: The 50th Anniversary of Independence on the reverse. Security features on the banknote include a watermarked portrait of the Yang di-Pertuan Agong, a security thread, micro letterings, fluorescent elements visible only under ultraviolet light , a multi coloured latent image which changes colour when viewed at different angles, and a holographic stripe at the side of the note and an image that is visible only via
7399-590: The Bank Negara Mint in Shah Alam . According to Lim, costs in producing the coins will be reduced by 49% due to the change in metal composition. Other changes in the series include the diameter, the colour on the 20- and 50 sen coins (from silver to yellow) and a redesign on the obverse (featuring different motifs for each denomination), fourteen dots symbolising the thirteen states and the collective Federal Territories, and five horizontal lines indicating
7550-479: The Brunei Currency and Monetary Board still maintain the interchangeability of their two currencies, as of 2021. The Malaysian Ringgit name was introduced in 1975. In 1993, the currency symbol "RM" (Ringgit Malaysia) was introduced to replace the use of the dollar sign "$ " (or "M$ "). Between 1995 and 1997, the ringgit was trading as a free float currency at around 2.50 to the US dollar , but following
7701-722: The ISO 4217 currency code for Malaysian ringgit is MYR . The Malay names ringgit and sen were officially adopted as the sole official names on 28 August 1975. Previously they had been known officially as dollars and cents in English and ringgit and sen in Malay, and in some parts of the country this usage continues. In the northern states of Peninsular Malaysia, denominations of 10 sen are called kupang in Northern Malay and called pua̍t (鏺/鈸) in Penang Hokkien which
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#17327796786187852-463: The Kijang Emas is rated at RM 8266 for 1oz, RM 4211 for 1 ⁄ 2 oz and RM 2144 for 1 ⁄ 4 oz (November 17, 2020). Central Bank of Malaysia first issued Malaysian dollar banknotes on 6 June 1967 in $ 1, $ 5, $ 10, $ 50 and $ 100 denominations. The $ 1000 denomination was first issued on 2 September 1968. The first Malaysian banknotes carried the image of Tuanku Abdul Rahman , the first Yang di-Pertuan Agong of independent Malaya and bore
8003-477: The Malay and non-Malay shares of the economy in absolute terms, while increasing the Malay share in relative terms as well. A sum of M$ 7.25 billion in total was allocated for the Second Malaysia Plan. Although this constituted a decrease from the First Malaysia Plan's allocation of M$ 10.5 billion, the Second Malaysia Plan hoped to achieve greater reduction in poverty and increase the involvement of
8154-1007: The Malayic languages spoken by the Orang Asli ( Proto-Malay ) in Malaya . They are Jakun , Orang Kanaq , Orang Seletar , and Temuan . The other Malayic languages, included in neither of these groups, are associated with the expansion of the Malays across the archipelago. They include Riau-Johor Malay ( Malaysian and Indonesian ), Kedah Malay , Kedayan/Brunei Malay , Berau Malay , Bangka Malay , Jambi Malay , Kutai Malay , Natuna Malay, Riau Malay , Loncong , Pattani Malay , and Banjarese . Menterap may belong here. There are also several Malay-based creole languages , such as Betawi , Cocos Malay , Makassar Malay , Ambonese Malay , Dili Malay , Kupang Malay , Manado Malay , Papuan Malay , Pattani Malay , Satun Malay , Songkhla Malay , Bangkok Malay , and Sabah Malay , which may be more or less distinct from standard (Malaccan) Malay. Due to
8305-504: The Malayic varieties they currently list as separate languages, including the Orang Asli varieties of Peninsular Malay , are so closely related to standard Malay that they may prove to be dialects. There are also several Malay trade and creole languages (e.g. Ambonese Malay ) based on a lingua franca derived from Classical Malay as well as Makassar Malay , which appears to be a mixed language . Malay historical linguists agree on
8456-494: The Malays held sufficient capital to take them over. By the end of the plan's tenure, PERNAS owned 100% of eight companies involved in insurance, trading, construction, properties, engineering, securities, and mining. Joint ventures had also been formed with the private sector to develop the mining, containerisation, tourism and consulting industries. Parliament passed the Industrial Coordination Act during
8607-717: The Malays in the private sector by imposing certain restrictions on private firms that would benefit Malay employment and economic ownership. At the time the plan was announced, the non-Malays had, in the words of one commentator, "a virtual monopoly of private industrial and commercial employment", and were concentrated in the urban areas. However, foreign interests controlled most modern industries, including manufacturing, banking, finance, rubber, and tin. The Malays were largely involved in rural occupations such as rice farming, fishing, tending to rubber or oil palm smallholdings, and so on. They were conspicuously absent from even minor white collar jobs, such as clerical work, and only in
8758-947: The Old Malay language was found in Sumatra , Indonesia, written in the Pallava variety of the Grantha alphabet and is dated 1 May 683. Known as the Kedukan Bukit inscription , it was discovered by the Dutchman M. Batenburg on 29 November 1920 at Kedukan Bukit, South Sumatra , on the banks of the Tatang, a tributary of the Musi River . It is a small stone of 45 by 80 centimetres (18 by 31 in). For centuries, Srivijaya , through its expansion, economic power and military prowess,
8909-408: The Second Malaysia Plan was passed by Parliament to implement the goals of these policies. The Second Malaysia Plan stepped up government involvement in the economy, with the main goal of increasing Malay economic interests, especially in the areas of manufacturing and mining. To avoid directly hurting Chinese economic interests, the plan focused on huge economic growth, with the goal of expanding both
9060-538: The Second Malaysia Plan, due to the exhaustion of tin and iron reserves. However, bauxite and copper continued to contribute to the mining sector in the early 1970s. Malay participation in the mining sector was minimal, and as much as 70% of the industry remained under foreign control. This was a legacy of the British colonial era; many British firms, which had arrived in the 19th century to exploit Malaysian mineral resources, had not departed yet. Malay participation in
9211-437: The Second Malaysia Plan, only 40,000 acres (160 km) had been developed, with only half this number comprising oil palm estates. The land development and resettlement policies instituted by the government, however, failed to make an impact on rural poverty. The government managed to resettle only 40,000 people, despite an estimated 535,000 families engaged in agriculture living below the poverty level. Due to inefficiencies in
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#17327796786189362-542: The Second Malaysia Plan, which required all new manufacturing enterprises with M$ 100,000, or twenty-five or more workers, to be licensed by the Minister of Trade and Industry. To obtain such a licence, each firm had to meet certain conditions set by the Ministry, which could vary. Malaysian Chinese manufacturers were concerned about the act, as they had operated with minimal control from the government before. Nevertheless,
9513-447: The Second Malaysia Plan, with seven institutions alone completed in 1975. It was hoped this would alleviate the problem of unemployment, especially among the youth. The Second Malaysia Plan aimed to modernise Malaysian railroads, which the government regarded as crucial to development and industry. All trains were converted to use the more efficient diesel fuel , and the government increased allocations for maintenance and modernisation of
9664-441: The Second Malaysia Plan. Food, wood products, and chemical products made up the majority of the manufacturing sector. The substantial growth in manufacturing during this period has been attributed to the government's establishment of free trade zones, where any goods brought in would not be subject to customs duties, and goods could be freely exported abroad or transferred to another free trade zone. In 1974, such zones were declared in
9815-409: The Third Malaysia Plan was launched, the government toned down its rhetoric on affirmative action and emphasised greater economic growth, which would benefit all. Malay language Malay ( / m ə ˈ l eɪ / mə- LAY ; Malay: Bahasa Melayu , Jawi : بهاس ملايو ) is an Austronesian language that is an official language of Brunei , Indonesia , Malaysia , and Singapore . It
9966-610: The US dollar soon after; the currency later plummeted and hover below the 1998 lows at 4.40 and 4.50 MYR/USD, following the wake of the victory of pro- protectionist Donald Trump in the 2016 United States presidential election, which has raised questions of the United States' participation in the Trans-Pacific Partnership (TPP) (which Malaysia is a signatory of, and the United States had promptly pulled out from in January 2017) and Malaysia–United States trade as
10117-573: The US dollar, with significant increases since early-November 2017 following reports of positive economic performance, the restructuring of the TPP into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and increasing global oil prices. After appreciating as high as 3.86 to the US dollar as of early April 2018, the value dropped to around 4.18 MYR/USD by the end of October 2018 following increasing trade war tensions in response to
10268-405: The US dollar. According to Bank Negara, Malaysia allows the ringgit to operate in a managed float against several major currencies. This has resulted in the value of the ringgit rising closer to its perceived market value, although Central Bank of Malaysia has intervened in financial markets to maintain stability in the trading level of the ringgit, a task made easier by the fact that the ringgit
10419-400: The bank released a newly designed RM50 banknote, which according to the bank, were to enter general circulation beginning 30 January 2008. Earlier, 20,000 more such notes with special packaging were distributed by the bank on 26 December 2007. The newly designed RM50 banknote retains the predominant colour of green-blue, but is designed in a new theme, dubbed the "National Mission", expressing
10570-408: The center on the obverse of the note. Design patterns from songket weaving , which are in the background and edges of the banknote, are featured to reflect the traditional Malay textile handicraft and embroidery. The first 50 million pieces of the new RM50 banknote features Malaysia's first Prime Minister , Tunku Abdul Rahman , at the historic declaration of Malaya's independence , and the logo of
10721-399: The central bank; at the time of the demonetization, RM500 and RM1,000 notes were each worth approximately US$ 130 and US$ 260 respectably, based on the 3.80 MYR/USD peg rate. Despite these measures, some 7.6% of RM500 notes and 0.6% of RM1,000 notes remain in circulation as of 30 January 2011. During a 2011 parliamentary session, then Deputy Finance Minister Donald Lim Siang Chai asserted that
10872-420: The civil service, where they were guaranteed 80% of all government jobs, were they present in the upper portion of the hierarchy. Most members of some professions, such as medicine and law, were non-Malay. Ironically, government policies, such as those set out by Article 153, appeared to hinder Malay involvement in the private sector by giving them preference in only the public sector. Unemployment among all races
11023-495: The coin is tilted slightly. The 20 sen and 50 sen coins look similar to €0.10 and €0.20 coin in size, edge design and colour; however, they are only worth at €0.047 and €0.12 respectively. Three denominations of gold bullion coins , the "Kijang Emas" (the kijang, a species of deer , being part of Central Bank of Malaysia's logo) are also issued, at the face value of RM 50, RM 100 and RM 200, weighing 1 ⁄ 4 oz, 1 ⁄ 2 oz and 1 oz (Troy ounce), respectively. It
11174-555: The colonial language, Dutch, is no longer commonly spoken. (In East Timor , which was governed as a province of Indonesia from 1976 to 1999, Indonesian is widely spoken and recognized under its Constitution as a 'working language'.) Besides Indonesian , which developed from the Riau Malay dialect, there are many Malay varieties spoken in Indonesia; they are divided into western and eastern groups. Western Malay dialects are predominantly spoken in Sumatra and Borneo , which itself
11325-667: The colour schemes of the old dollar. Over the course of the following decades, minor changes were made to the notes and coins issued, from the introduction of the M$ 1 coin in 1967, to the demonetization of RM500 and RM1,000 notes in 1999. As the Malaysian dollar replaced the Malaya and British Borneo dollar at par and Malaysia was a participating member of the sterling area , the new dollar was originally valued at 8 + 4 ⁄ 7 dollars per 1 British pound sterling ; in turn, £1 = US$ 2.80 so that US$ 1 = M$ 3.06. In November 1967, five months after
11476-434: The commercial sector. Bumiputra equity ownership more than doubled from 3% to 7.8%. However, this was considered unsatisfactory by many, especially as much of the progress had been made by government enterprises holding the equity in trust. Although the plan had initially targeted a GDP growth rate of 12.5% a year, only an average of 11% was managed. The growth was extremely uneven; while in 1973 GDP grew by 27%, in 1975, it grew
11627-407: The condition that rules and regulations were put in place to prevent abuses. Despite considerations, the ringgit has continued to remain non-internationalised in a deliberate move to continue discouraging off-shore trading of the currency. Political uncertainty following the country's 2008 general election and the 2008 Permatang Pauh by-election , falling crude oil prices in the late-2000s, and
11778-687: The constitution as one of two working languages (the other being English ), alongside the official languages of Tetum and Portuguese . The extent to which Malay is used in these countries varies depending on historical and cultural circumstances. Malay is the national language in Malaysia by Article 152 of the Constitution of Malaysia , and became the sole official language in Peninsular Malaysia in 1968 and in East Malaysia gradually from 1974. English continues, however, to be widely used in professional and commercial fields and in
11929-542: The corporate agriculture sector, the Malays held only a 0.3% stake, as opposed to 70.8% held by foreign interests. In the noncorporate sector, the Malays held 47.1%. Due to limited capital, many Malays were still engaged in "lower productivity activities" as the Second Malaysia Plan ended. The Second Malaysia Plan continued past initiatives in raising nutritional levels through a number of programs. These included incentives to grow nutritious food , instruction in nutrition and menu planning, and provision of food for groups with
12080-516: The court moved to establish the Johor Sultanate, it continued using the classical language; it has become so associated with Dutch Riau and British Johor that it is often assumed that the Malay of Riau is close to the classical language. However, there is no closer connection between Malaccan Malay as used on Riau and the Riau vernacular. Among the oldest surviving letters written in Malay are
12231-423: The design of edges, diameters and composition of the previous series' coins previous to 1989, the 1 ringgit coin being the exception. Changes include the depiction of items of Malay culture on the obverse, such as a local mancala game board called congkak on the 10 sen and the wau bulan or "moon kite" on the 50 sen among other things, as well as the inclusion of a Hibiscus rosa-sinensis (Malay: Bunga Raya ),
12382-420: The earliest evidence of Jawi writing in the Malay world of Southeast Asia, and was one of the oldest testimonies to the advent of Islam as a state religion in the region. It contains the proclamation issued by a ruler of Terengganu known as Seri Paduka Tuan, urging his subjects to extend and uphold Islam and providing 10 basic Sharia laws for their guidance. The classical Malay language came into widespread use as
12533-486: The early settlement of a Cape Malay community in Cape Town , who are now known as Coloureds , numerous Classical Malay words were brought into Afrikaans . The extent to which Malay and related Malayan languages are used in the countries where it is spoken varies depending on historical and cultural circumstances. Malay is the national language in Malaysia by Article 152 of the Constitution of Malaysia , and became
12684-474: The eastern part of the Malay or Nusantara archipelago and include Makassar Malay , Manado Malay , Ambonese Malay , North Moluccan Malay , Kupang Malay , Dili Malay , and Papuan Malay . The differences among both groups are quite observable. For example, the word kita means 'we, us' in western, but means 'I, me' in Manado, whereas 'we, us" in Manado is torang and Ambon katong (originally abbreviated from Malay kita orang 'we people'). Another difference
12835-497: The economic position of the Malays . It was the successor to the First Malaysia Plan , which was also intended to specifically tackle the problem of poverty among the Malays. However, the First Malaysia Plan had limited success, which may have been a factor in the 13 May Incident in 1969 when race riots broke out in Kuala Lumpur . The Second Malaysia Plan had been regarded as excessive in its zeal to increase Malay participation in
12986-515: The economy, and the government accordingly scaled back the emphasis on restructuring the economy when the plan ended. Although the Malays have nearly always comprised a majority of the Malaysian population, their economic power has rarely been commensurate. In 1970, the Bumiputra controlled only 1.9% of the Malaysian economy, while the non-Malays (mostly Chinese) held 37.4%, with the rest in foreign hands. Due to this wide disparity, Article 153 of
13137-549: The emergence of new currencies in Malaysia, Singapore and Brunei , the Interchangeability Agreement which the three countries adhered to as original members of the currency union meant the Malaysian dollar was exchangeable at par with the Singapore dollar and Brunei dollar . This ended on 8 May 1973, when the Malaysian government withdrew from the agreement. The Monetary Authority of Singapore and
13288-650: The end of Srivijayan rule in Sumatra . The laws were for the Minangkabau people , who today still live in the highlands of Sumatra , Indonesia . Terengganu Inscription Stone (Malay: Batu Bersurat Terengganu ; Jawi: باتو برسورت ترڠݢانو) is a granite stele carrying inscription in Jawi script that was found in Terengganu, Malaysia is the earliest evidence of classical Malay inscription. The inscription, dated possibly to 702 AH (corresponds to 1303 CE), constituted
13439-403: The end of 2013. The first series of sen coins were introduced in 1967 in denominations of 1, 5, 10, 20 and 50 sen, followed by the introduction of the 1 ringgit coin (which used the $ symbol and is the largest coin in the series) in 1971. While varied by diameters, virtually all the coins were minted in near-consistent obverse and reverse designs and were very generic, with the obverse depicting
13590-509: The end of the plan, most formerly English-based schools had converted the first four years of instruction entirely to the new Malay-medium curriculum. In 1973, the Curriculum Development Centre was established. Its goal was to co-ordinate projects to reform the curriculum that had previously been handled by varying government departments. It also began revamping the curriculum for science and mathematics , and began
13741-415: The exclusive right to own, explore and exploit petroleum in Malaysia was vested in the government enterprise of Petronas . The following year, Petronas was granted sole rights over the marketing and distribution of all petroleum products and a provision to control other companies without taking an ownership stake in them, through the issuance of management shares to Petronas. The number of Malays employed in
13892-602: The existing series. The existing series will be gradually phased out. All 4 series of banknotes (except 500, and 1000) are technically still legal tender, but some vendors may not accept the first and second series banknotes (rarely seen now). All banknote denominations in the new series will retain the portrait of the first Yang di-Pertuan Agong, Tuanku Abdul Rahman. The banknotes are supplied by Crane AB of Sweden , Giesecke & Devrient GmbH of Germany , Oberthur Technologies of France and Orell Fussli of Switzerland . They were put into circulation on 16 July 2012. To commemorate
14043-522: The facilities and personnel provided were inadequate. The topic was viewed as rather sensitive by the government, and thus family planning was mostly ignored. Ironically, in 1984 Malaysian Prime Minister Mahathir Mohamad effectively eliminated family planning as a government policy by announcing the National Population Policy, which targeted a 70 million population by 2100—up from 12.6 million in 1984. Although education
14194-590: The far southern parts of the Philippines . They have traditionally been classified as Malay, Para-Malay, and Aboriginal Malay, but this reflects geography and ethnicity rather than a proper linguistic classification. The Malayic languages are mutually intelligible to varying extents, though the distinction between language and dialect is unclear in many cases. Para-Malay includes the Malayic languages of Sumatra . They are: Minangkabau , Central Malay (Bengkulu), Pekal , Talang Mamak , Musi (Palembang), Negeri Sembilan (Malaysia), and Duano’ . Aboriginal Malay are
14345-584: The federal government to negotiate with individual state governments. Non-Malay rural families also did not benefit much due to this, as the Constitution reserved portions of land for the Malays, and state governments were not anxious to receive destitute non-Malays. Although the Second Malaysia Plan greatly modernised the " rice bowl" states of Kedah and Perlis —virtually eliminating the water buffalo by replacing it with tractors —most smallholders and individual farmers did not benefit technology-wise. In
14496-525: The first 20,000 were sold with a special packaging at a premium price of 60 ringgit. On 14 December 2017, Central Bank of Malaysia announced the issue of two paper-polymer hybrid commemorative banknotes in conjunction with the sixtieth anniversary of the Signing of the Federation of Malaya Independence Agreement. The banknotes were in the denominations of 60 ringgit and 600 ringgit. The 60 ringgit note
14647-406: The five principles of Rukunegara . The 50-cent coin is more distinctive than the other denominations. The round shape of the coin has nine indentations, forgoing the original "BANK NEGARA MALAYSIA" lettering. The obverse does not feature the five horizontal lines, but instead a latent image security feature is placed over the coin, where lettering of the denomination "50" and "SEN" can be seen when
14798-559: The government has been criticised for this practice, as it is argued nationalised corporations belong to the public at large, and not only to the Bumiputra. The Second Malaysia Plan continued the initiatives that previous five year plans, such as the First Malayan Five Year Plan , had taken. Although expenditure on other development increased substantially, by about M$ 1 million, funding for rural development
14949-414: The government stated the act was not meant to be detrimental towards any group, and went ahead with its implementation. Under the act, firms were divided into three categories: firms approved after 1 January 1972, firms approved before then, and firms operating without approval from the Ministry. All firms subject to the act were required to submit a proposal to the Ministry stating how they planned to achieve
15100-594: The highest rates of malnutrition . However, these programs were hindered by a lack of trained medical personnel. Although family planning was established as a national goal in 1964, efforts during the Second Malaysia Plan to promote it were hampered by government neglect. Much of the success achieved by the National Family Planning Board occurred during the years of the First Malaysia Plan (1966–1970). The Second Malaysia Plan hoped to add 600,000 new users of family planning techniques, but
15251-598: The introduction of containerisation in Malaysia to better facilitate transportation. The plan called for the establishment of a national haulage company to handle inland transport; in August 1971, Kontena Nasional Berhad (National Containers Limited) was established by the government. In December, M.V. Benavon became the first container vessel to dock in Malaysia, at the North Terminal of Port Klang in Selangor. At
15402-445: The introduction of the Malaysian dollar, the pound was devalued by 14.3% from US$ 2.80 to US$ 2.40, leading to a collapse in confidence for the sterling area and its demise in 1972. The new currency stayed pegged to the U.S. dollar at US$ 1 = M$ 3.06, but earlier notes of the Malaya and British Borneo dollar were devalued from US$ 2.80 to US$ 2.40 for 8.57 dollars; consequently these notes were reduced in value to 85 cents per dollar. Despite
15553-565: The island of Taiwan . The history of the Malay language can be divided into five periods: Old Malay, the Transitional Period, the Classical Malay, Late Modern Malay and Modern Malay. Old Malay is believed to be the actual ancestor of Classical Malay. Old Malay was influenced by Sanskrit, the classical language of India . Sanskrit loan words can be found in Old Malay vocabulary. The earliest known stone inscription in
15704-470: The lack of intervention by the Central Bank of Malaysia to increase already low interest rates (which remained at 3.5% between April 2006 and November 2008) led to a slight fall of the ringgit's value against the US dollar between May and July 2008, followed by a sharper drop between August and September of the same year. As a result, the US dollar appreciated significantly to close at 3.43 MYR/USD as of 4 September 2008, while other major currencies, including
15855-763: The languages' words for kinship, health, body parts and common animals. Numbers, especially, show remarkable similarities. Within Austronesian, Malay is part of a cluster of numerous closely related forms of speech known as the Malayic languages , which were spread across Malaya and the Indonesian archipelago by Malay traders from Sumatra. There is disagreement as to which varieties of speech popularly called "Malay" should be considered dialects of this language, and which should be classified as distinct Malay languages. The vernacular of Brunei— Brunei Malay —for example,
16006-402: The late-2000s had led to considerations to reintroduce the currency to foreign trading after over a decade of being non-internationalised . In a CNBC interview in September 2010, Najib Tun Razak , the then Prime Minister and Finance Minister of Malaysia, was quoted in stating that the government was planning the reentry of the ringgit into off-shore trading if the move will help the economy, with
16157-460: The letters from Sultan Abu Hayat of Ternate , Maluku Islands in present-day Indonesia , dated around 1521–1522. The text is addressed to the king of Portugal , following contact with Portuguese explorer Francisco Serrão . The letters show sign of non-native usage; the Ternateans used (and still use) the unrelated Ternate language , a West Papuan language , as their first language . Malay
16308-589: The likelihood of the Malayic homeland being in western Borneo . A form known as Proto-Malayic was spoken in Borneo at least by 1000 BCE, it has been argued to be the ancestral language of all subsequent Malayic languages . Its ancestor, Proto-Malayo-Polynesian , a descendant of the Proto-Austronesian language , began to break up by at least 2000 BCE, possibly as a result of the southward expansion of Austronesian peoples into Maritime Southeast Asia from
16459-430: The long-term target of achieving 30% Malay and 70% non-Malay Malaysian ownership in the company. Proposals that were accepted then became the guidelines for how the relevant company would operate. Until the Second Malaysia Plan, industry was concentrated on the west coast of Peninsular Malaysia . The plan thus moved to establish new industrial estates on the east coast, in order to curb rural-urban migration—the east coast
16610-442: The main theme being that of Malaysian traditional ornamental designs. Two new denominations, that of $ 20 and $ 500, was introduced in 1982; it was followed by redesigned banknotes for the $ 10, $ 50 and $ 100 denominations in 1983 before completing with redesigned $ 1, $ 5 & $ 1000 notes in 1984. All banknotes of this series was printed ny Thomas De La Rue . Until 2010, the second series notes was still occasionally encountered. In 1986,
16761-488: The mark for the blind on the upper left hand corner was removed, and a security strip was added to all denominations except for the 1 ringgit. Printing of $ 1 notes were discontinued in 1993 with the $ 1 coin replacing it. Due to its unpopularity, the $ 20 (RM20) denominations were discontinued and gradually removed from circulation in 1995. In 1999 the RM500 and RM1000 notes were discontinued and ceased to be legal tender. This
16912-413: The mining industry. The government also ostensibly increased Bumiputra ownership by nationalising several formerly foreign mining companies—by 1989, state corporations controlled 60% of the mining industry. The government was also aided by the fact that petroleum soon eclipsed other minerals in the mining sector—as Petronas was a state-owned corporation, it was also considered a Bumiputra enterprise. However,
17063-422: The mining sector soared from 1970 onwards, as the government's restructuring policies came into force. When the Second Malaysia Plan began, less than 200,000 Malays were employed in the mining industry. By 1990, they numbered nearly a million, well ahead of the target numbers originally outlined. Licences for mining operations were specially reserved for Malays as part of the drive to increase their ownership level in
17214-484: The mining sector—especially in tin—was further hampered by the British tendency in the 19th century to bring in cheap Chinese labour; most of those employed in mining were still Chinese as late as 1970. Petroleum or crude oil began to significantly contribute to the Malaysian economy in the 1970s, as new oil rigs and refineries were set up. By 1975, total production of crude oil stood at 90,000 barrels per day (14,000 m/d), most of it produced by Shell . In 1974,
17365-416: The new coin, but was dropped in favour of "RINGGIT" for coins minted from 1993 onwards. On 7 December 2005, the 1 ringgit coin was demonetised and withdrawn from circulation. This was partly due to problems with standardisation (two different versions of the second series coin were minted) and forgery . As of 1 April 2008, a rounding mechanism of prices to the nearest 5 sen, applied to the total bill only,
17516-505: The non-Malays, who mostly supported the opposition parties that favoured reducing or eliminating affirmative action for the Bumiputra in the 1969 general election. A victory parade held on 12 May 1969 by supporters of the opposition led to a retaliatory rally on 13 May by the United Malays National Organisation (UMNO), a major party in the governing Alliance coalition. However, the rally soon turned into
17667-401: The notion of Malaysia "[moving] the economy up the value chain", in accordance to Malaysia 's economic transformation to higher value-added activities in agriculture , manufacturing and services sectors of the economy . The dominant intaglio portrait of the first Yang di-Pertuan Agong , Tuanku Abdul Rahman , is retained on the right and the national flower, the hibiscus , is presented in
17818-441: The onset of the 1997 Asian financial crisis , the ringgit witnessed major dips to under 3.80 MYR/USD by the end of 1997 as a result of capital flight . During the first half of 1998, the currency fluctuated between 3.80 and 4.40 MYR/USD, before the Central Bank of Malaysia moved to peg the ringgit to the US dollar in September 1998, maintaining its 3.80 MYR/USD value while remaining floated against other currencies. In addition,
17969-431: The option of answering questions using Jawi. The Latin script, however, is the most commonly used in Brunei and Malaysia, both for official and informal purposes. Historically, Malay has been written using various scripts. Before the introduction of Arabic script in the Malay region, Malay was written using the Pallava , Kawi and Rencong scripts; these scripts are no longer frequently used, but similar scripts such as
18120-422: The program, the beneficiaries of resettlement and development were not always those with the greatest need. It was also alleged by some that there had been too much emphasis on the difficult process of resettlement and development of new areas, instead of increasing productivity in existing farms. Matters were complicated by the Constitution, which gave the states much control over land development, and thus requiring
18271-724: The pronunciation of words ending in the vowel 'a'. For example, in some parts of Malaysia and in Singapore, kita (inclusive 'we, us, our') is pronounced as /kitə/ , in Kelantan and Southern Thailand as /kitɔ/ , in Riau as /kita/ , in Palembang as /kito/ , in Betawi and Perak as /kitɛ/ and in Kedah and Perlis as /kitɑ/. Ringgit The Malaysian ringgit ( / ˈ r ɪ ŋ ɡ ɪ t / ; plural: ringgit ; symbol : RM ; currency code : MYR ; Malay name: Ringgit Malaysia ; formerly
18422-564: The rail infrastructure. In particular, emphasis was placed on upgrading existing rolling stock , roadbeds, and repair facilities. Air service was expanded under the plan, which paid for the purchase of all-weather and night traffic control equipment, as well as the training of staff to handle the equipment. The Second Malaysia Plan also saw Malaysia-Singapore Airlines split into the Malaysia Airline System (MAS) and Singapore Airlines (SIA). The Second Malaysia Plan also saw
18573-603: The reins of power, the NOC set out the NEP, with the ultimate aim of eradicating poverty and eliminating "the identification of race with economic function" through a "rapidly expanding economy"; the NEP aimed for a Bumiputra share of 30% of the economy within 20 years. The Outline Perspective Plan was also approved, with similar goals to the NEP. Both the NEP and the Outline Perspective Plan were set to expire in 1990, and
18724-476: The renminbi and Hong Kong dollar, followed suit. The ringgit spiked at 3.73 MYR/USD by March 2009, before gradually recovering to 3.00 MYR/USD by mid-2011 and normalising at around 3.10 MYR/USD between 2011 and 2014. The ringgit experienced more acute plunges in the value since mid-2014 following the escalation of the 1Malaysia Development Berhad scandal that raised allegations of political channeling of billions of ringgit to off-shore accounts, and uncertainty from
18875-399: The reverse side of the banknote. The regular 50 ringgit notes which were issued later from 2009 onward did not carry these additional design features A total of 50 million banknotes which bore the commemorative design, with serial number letter prefixes from AA to AE, were issued. Subsequent regular banknotes had serial number prefixes from AF onward. Of the 50 million commemorative banknotes,
19026-519: The ringgit had yet to regain its value circa 2001 against the Singapore dollar (2.07 to 2.40 MYR/SGD), the euro (3.40 to 4.97 MYR/EUR), the Australian dollar (1.98 to 2.80 MYR/AUD ), and the British pound (5.42 to 6.10 MYR/GBP ). On 21 July 2005, Central Bank of Malaysia announced the end of the peg to the US dollar immediately after China 's announcement of the end of the renminbi peg to
19177-538: The ringgit was designated non-tradeable outside of Malaysia in 1998 to stem the flow of money out of the country. While the printing of RM500 and RM1,000 notes had ceased in 1996 in response to risks of money laundering and capital flight, the underestimated effects of the financial crisis prompted the central bank to completely discontinue the use of the notes by demonetising the remaining notes in circulation beginning 1 July 1999. The two denominations hereby ceased to be legal tender and were only exchangeable directly at
19328-408: The scope and size of their development programs. RISDA (Rubber Industries Smallholder Development Agency) was given the task of diversifying smallholder estates; RISDA set itself the ambitious goal of developing 150,000 acres (610 km) during the Second Malaysia Plan. The main aim was to diversify into palm oil through the planting of oil palms . The Malaysian economy relied heavily on rubber at
19479-467: The signature of Tun Ismail bin Mohamed Ali, the first Malaysian Governor of Central Bank of Malaysia. On 16 August 1972, Central Bank of Malaysia adopted official new spelling system of the national language, Bahasa Melayu, into the printing of its currency notes while retaining the designs. The banknotes with new spellings are circulated alongside the old banknotes. The second series was issued with
19630-590: The sole official language in West Malaysia in 1968, and in East Malaysia gradually from 1974. English continues, however, to be widely used in professional and commercial fields and in the superior courts. Other minority languages are also commonly used by the country's large ethnic minorities. The situation in Brunei is similar to that of Malaysia. In Singapore, Malay was historically the lingua franca among people of different nationalities. Although this has largely given way to English, Malay still retains
19781-454: The states of Penang , Selangor , and Malacca . The industries located in these zones were mostly electronics-, rubber product- and textile-based. Until the late 1970s, Malaysia was the world's foremost producer of tin , supplying roughly 40% of the non- communist world's tin. Nevertheless, tin reserves were declining; mining's contribution to the GDP was projected to fall 13% over the course of
19932-435: The status of national language and the national anthem , Majulah Singapura , is entirely in Malay. In addition, parade commands in the military, police and civil defence are given only in Malay. Most residents of the five southernmost provinces of Thailand —a region that, for the most part, used to be part of an ancient Malay kingdom called Pattani —speak a dialect of Malay called Yawi (not to be confused with Jawi), which
20083-608: The superior courts. Other minority languages are also commonly used by the country's large ethnic minorities. The situation in Brunei is similar to that in Malaysia. In the Philippines , Indonesian is spoken by the overseas Indonesian community concentrated in Davao City . Functional phrases are taught to members of the Armed Forces of the Philippines as well as local students. Malay, like most Austronesian languages,
20234-410: The then recently completed Malaysian Houses of Parliament and the federal star and crescent moon from the canton of the Malaysian flag . All coins were minted from cupronickel , the only exception being the 1 sen coin, which was first composed from bronze between 1967 and 1972, then in steel clad with copper from 1973 onwards. The 50 sen coin is the only one in the series to undergo a redesign,
20385-720: The time of the Second Malaysia Plan, there were only two sea ports in Malaysia; one in Penang , and one in Klang . The plan called for the construction of two new ports, both in peninsular Malaysia; one would be in Johor , and another would be in Kuantan , a major town in Pahang . The two main objectives of these projects were to meet increasing demand for sea transportation of freight, and to bring development to underdeveloped states. Johor Port
20536-471: The time—at its peak, Malaya (Peninsular Malaysia) alone produced more than half of the world's rubber. However, the Great Depression , which depressed rubber prices, greatly set back the Malayan economy. The Malaysian government thus aimed to avert another incident by diversifying the agriculture sector. However, RISDA over-reached itself in attempting to so quickly reappropriate land; by the end of
20687-604: The word jagged. The availability and circulation of this Spanish currency were due to the Spanish controlling nearby Philippines . An early printed source, the Dictionary of the Malayan Language from 1812 had already referred to the ringgit as a unit of money. In modern usage, ringgit is used almost solely for the currency. Due to the common heritage of the three modern currencies, the Singapore dollar and
20838-467: Was "to provide facilities and opportunities for the rural population to improve its level of economic and social wellbeing." Some have attributed the greater expenditure of the Plan to the governing Alliance political coalition's political woes; the coalition had only narrowly won the 1969 general elections due to discontent among the rural Malay electorate over the lack of economic progress. While it held
20989-525: Was also increased. The Second Malaysia Plan focused on diversifying crops grown in Malaysia; the 1974 Green Book Program aimed to make Malaysia self-sufficient in food production by encouraging farmers to grow vegetables, such as long beans , chilies , etc., and rear livestock —the Veterinary Department going as far as to distribute cattle . Fertilisers , seedlings , insecticides and herbicides were subsidised. Double-cropping of rice
21140-400: Was also made available in a 3-in-1 format. The 600 ringgit note is the largest legal tender banknote in terms of size to be issued in the world, measuring 370mm by 220mm. The notes were released for sale online on 29 December 2017 at a premium, with the 60 ringgit note sold at 120 ringgit, the 3-in-1 60 ringgit note at 500 ringgit and the 600 ringgit note at 1,700 ringgit. The print run for
21291-421: Was also rampant, largely due to poor education, with about 70% of the 275,000 unemployed in 1970 being aged between 15 and 25 years. It was all this that the NEP and the Second Malaysia Plan set out to change. Several government agencies that had been established prior to the advent of the Second Malaysia Plan increased their participation in the economy during the Second Malaysia Plan. These agencies included
21442-515: Was an economic development plan launched by the government of Malaya , and continued by the government of Malaysia (a new nation comprising Malaya, Singapore , Sabah and Sarawak ). This plan followed the First Malayan Five Year Plan , which ran from 1956 to 1960. The Second Malayan Five Year Plan increased expenditure for the development of agriculture and rural areas. Funding was markedly increased for land development schemes, physical infrastructure, and social services. The Plan's stated objective
21593-442: Was completed in 1977, while Kuantan Port began full operations in 1984. At the end of the Second Malaysia Plan, the poverty rate was found to have declined from 49% to 43%. Unemployment improved slightly, decreasing from 7.5% to 7.4%. Great strides were made in increasing Bumiputra involvement in the private sector, however; the employment rate of Bumiputra in the manufacturing sector increased from 29% to 33%, and from 24% to 34% in
21744-525: Was considerably less urbanised than the west coast. By 1975, manufacturing activities constituted 16% of the Malaysian Gross Domestic Product (GDP), one per cent short of the target of the Second Malaysia Plan. Manufacturing grew negligibly in 1975, attributed by the government to the global recession that year. This contrasted with the 15% growth achieved in 1974, which well exceeded the target of 12.5% growth per year during
21895-621: Was due because of the Asian monetary crisis of 1997 when huge amounts of ringgit were taken out of the country to be traded in these notes. In effect the notes were withdrawn out of circulation and the amount of ringgit taken out of the country in banknotes was limited to RM1000. The third series was issued with designs in the spirit of Wawasan 2020 in 1996 in denominations of RM1, RM2, RM5, RM10, RM50 and RM100. The larger denomination RM50 and RM100 notes had an additional hologram strip to deter counterfeiters . In 2004, Central Bank of Malaysia issued
22046-568: Was encouraged, so farmers could harvest twice in one year and effectively double their output. The Farmers' Organization Authority was established in 1973 with the goal of co-ordinating agricultural cooperatives, farmers' associations, and government agricultural agencies. Growth in small-scale agriculture was viewed as crucial to creating jobs and reducing rural poverty, and government agencies such as FELDA (the Federal Land Development Authority) vastly increased
22197-456: Was gradually replaced by the Rumi script. Malay is spoken in Brunei , Indonesia , Malaysia , East Timor , Singapore and southern Thailand . Indonesia regulates its own normative variety of Malay, while Malaysia and Singapore use a common standard. Brunei, in addition to Standard Malay, uses a distinct vernacular dialect called Brunei Malay . In East Timor , Indonesian is recognised by
22348-413: Was mostly sidelined in favour of socioeconomic restructuring programs during the Second Malaysia Plan, some important initiatives were taken during its tenure. In 1970, Malay , the national language, became the major medium of instruction from primary to tertiary level, replacing English . British standardised examinations were replaced with local ones, and new Malay-language textbooks were introduced. By
22499-509: Was pegged and has remained non-tradeable outside Malaysia since 1998. Following the end of the currency peg, the ringgit appreciated to as high as 3.16 MYR/USD in April 2008. The ringgit had also enjoyed a period of appreciation against the Hong Kong dollar (from 0.49 to 0.44 MYR/HKD) and the renminbi (0.46 to 0.45 MYR/CNY) as recently as May 2008. The initial stability of the ringgit in
22650-607: Was responsible for the widespread of Old Malay throughout the Malay Archipelago . It was the working language of traders and it was used in various ports, and marketplaces in the region. Other evidence is the Tanjung Tanah Law in post-Pallava letters. This 14th-century pre-Islamic legal text was produced in the Adityawarman era (1345–1377) of Dharmasraya , a Hindu-Buddhist kingdom that arose after
22801-928: Was used solely as a lingua franca for inter-ethnic communications. Malay is a member of the Austronesian family of languages, which includes languages from Southeast Asia and the Pacific Ocean , with a smaller number in continental Asia . Malagasy , a geographic outlier spoken in Madagascar in the Indian Ocean , is also a member of this language family. Although these languages are not necessarily mutually intelligible to any extent, their similarities are often quite apparent. In more conservative languages like Malay, many roots have come with relatively little change from their common ancestor, Proto-Austronesian language . There are many cognates found in
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