What do we know about Malaysian consumers?
Malaysia, with a population of approximately 29 million is among the more prosperous Asian countries. Its population base consists of ethnic backgrounds including mostly Malays, some Chinese, Indians, and few indigenous and other ethnic minorities. Income distribution is relatively even with a Gini Index calculated at 46.2 in 2009.
Today, 74% of Malaysia’s population lives in developed, urbanized areas. The nation is targeting to achieve a high income status by the year 2020, by attracting investments in the areas of Finance, Technology, Biotechnology and Services.
What do people import to Malaysia?
In 2014, Malaysia imported $193.6 billion worth of products into the country. These imported product categories included:
- Petroleum products
- Iron and Steel products
Which are Malaysia’s most favourite import partners? (Percentage of total imports in 2019)
- China (20.7%)
- Singapore (10.5%)
- Japan (7.5%)
- US (8.1%)
- Thailand (5.2%)
- South Korea (4.6%)
- Indonesia (4.6%)
What are the major container ports in Malaysia?
Malaysia has several ports, given its geography and size. The major container terminals are listed below:
- Port Kelang
- Tanjung Pelapas
- Pasir Gudang
- Sibu (Sarawak)
- Miri (Sarawak)
- Labuan, Sandakan(Sabah)
Which is Malaysia’s top cargo airport?
Kuala Lumpur International Airport is Malaysia’s busiest cargo airport.
What are the customs and tariffs regulations in Malaysia?
For several products, there is an initial testing and certification process with grading of the quality of the product. The Royal Customs and Excise Department is the agency that is responsible for collecting import duties and enforcing import formalities in Malaysia.
Imports are classified and duties vary according to class of products imported. Products are released from port of entry for inland transportation once duties are paid and customs formalities completed.
What is the distribution structure in Malaysia?
Malaysia has an extensive system of roads measuring approximately 144,000 km across its length and breadth. The railway network is approximately 1800 km long and is primarily utilized for inter city transport.
Malaysia has a distribution network system that is largely controlled by the wealthier Chinese communities. Local distributors, foreign trading companies or medium sized local trading companies can be utilized to distribute your product within the country. Final outlets consist of departmental stores, super and hyper markets, local shops and wholesale street markets.
While Malaysia offers good business opportunities, local laws, competitive information, and dealing with decision delays could require the participation of a reliable sales agent. Armed with the right information, you can thrive in Malaysia in the long-term.