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Gangga Negara was a semi-legendary Hindu kingdom mentioned in the Malay Annals that covered present-day Beruas, Dinding and Manjung in the state of Perak, Malaysia with Raja Gangga Shah Johan as one of its kings. [61]
Inflationary pressures remained benign, and, as a result, Bank Negara Malaysia, the central bank, had been able to follow a low interest rate policy. The Malaysian economy recovered from the 1997 Asian Financial Crisis sooner than neighbouring countries, and has since recovered to the levels of the pre-crisis era with a GDP per capita of $14,800.
Central Bank of Malaysia, which known as Bank Negara Tanah Melayu, was founded. 19 August: The first election was held since Independence. The Alliance won most of the seats. 12 September: The first Malayan Parliament was opened by the Yang di-Pertuan Agong. 1960: 31 May: Malayan Banking Berhad, which known as Maybank, was incorporated. 22 June
The term Nusantara derives from a combined two words of Austronesian and Sanskrit origin, the word nūsa (see also nusa) meaning "island" in Old Javanese, is ultimately derived from the Proto-Malayo-Polynesian word *nusa with the same meaning, [12] and the word antara is a Javanese loanword borrowed from Sanskrit अन्तरा (antarā) meaning "between" or "in the middle", [13] thus ...
Additionally, 9 State Council Yang Di Pertua (heads of state), Chief Ministers and 2 representatives from the Straits Settlements became unofficial members. The Malay Conference of Rulers would advise the High Commissioner on immigration issues. The British Resident was replaced with a Chief Minister in each state of the federation.
Malaysia is a federal constitutional elective monarchy and the only federal country in Southeast Asia. [77] The system of government is closely modelled on the Westminster parliamentary system, a legacy of British rule. [78] The head of state is the King, whose official title is the Yang di-Pertuan Agong.
Selangor's geographical position in the centre of Peninsular Malaysia contributed to the state's rapid development as Malaysia's transportation and industrial hub, creating jobs and attracting migrants from other states and from other Asian countries, especially Indonesia, the Philippines, Vietnam, Myanmar, Bangladesh, India, Pakistan and China.
Malaysia is forecasted to have a nominal GDP of nearly half a trillion US$ by the end of 2024. [25] The labour productivity of Malaysian workers is the third highest in ASEAN and significantly higher than Indonesia, Vietnam, and the Philippines. [26] Malaysia excels above similar income group peers in terms of business competitiveness and ...