2010 continues to be a challenging year for all enterprises in Sarawak. Just as the world is reeling from one of the worst global economic decline in decades, we now face a series of currency devaluations which many warned, will seriously undermine attempts to revive the world’s major economies. However, in spite of these challenges, the Malaysian economy appears to be fundamentally strong. To date, the Malaysian Ringgit has rallied to new highs against the US dollar. Likewise, the FTSE Bursa Malaysia KLCI has surged to its highest since early 2008. The country’s growth for 2010 has been revised to 7 percent.

As a small economy, Malaysia must be prepared to face these challenging times. The government will continue to play a proactive role in bolstering the economy, as well as ensuring that current economic growth is sustainable. More emphasis is now placed on the domestic private sector in playing key roles as the country transitions to the next phase of economic development. The entrepreneurial spirit of our businessmen and women is expected to fuel a vibrant state economy. It is hoped that our entrepreneurs will look to the Sarawak Corridor of Renewable Energy (SCORE) as a platform for developing tertiary manufacturing and services industries where productivity and innovation are key success factors.

I take this opportunity to congratulate the recipients of the 2010 Sarawak State Entrepreneur of the Year Award. Each one of them is a testimony of the resilience resourcefulness of Sarawak entrepreneurs. I wish them all the best and may their success serves as inspirations for others, particularly the younger generation. Also, I wish to congratulate the winners of the this year’s Corporate Report Awards for adopting good corporate disclosure and reporting practices, I hope more companies will be committed to enhancing the openness and transparency of their Annual Reporting.