Cultural and economic ties drive relations
Hong Kong is home to about 15,000 Malaysians, including veteran professionals such as Wong Poh Weng who came to the city in 1978 as a chartered accountant on a two-year secondment.
'I was in the right place at the right time,' says Wong, who can speak Cantonese, but cannot read or write Chinese.
'I came to Hong Kong at a time when my use of English was more than sufficient to develop a career in the city. If I came to Hong Kong now, I would not be able to survive because written Chinese and Putonghua are essential in the business sector.' Wong is now managing partner of RSM Nelson Wheeler, Hong Kong's sixth largest accounting firm in terms of the number of employees.
Judi Yew, chairwoman of the Malaysian Association of Hong Kong's (MAHK) executive committee for 2011-2012, says many Malaysians are drawn to Hong Kong's professional service sector, including the financial and banking industries. 'Hong Kong is an established regional financial hub with a lot of active international trading, and many young Malaysians consider the city a good learning ground,' Yew says. 'Many have grown to like the lifestyle here and chosen to make the city their home.'
While full of opportunities for aspiring professionals, Hong Kong's crowded living conditions can be a challenge. Some Malaysian expatriates need to make considerable adjustments to their lifestyles, while those used to living in houses may find it hard to live in small apartments in high rises.
'I was lucky because I had spent several years studying in central London and had lived in a flat. When I came to Hong Kong, I found it easy to adapt,' says Wong, a science graduate from the University of Essex.
Malaysia and Hong Kong enjoy close cultural and economic ties. 'Many Malaysians speak Cantonese just like Hongkongers do. There is no language barrier,' Yew says.
The Muslim-majority nation is on Hong Kong's list of top-10 trading partners, and vice-versa. Last year, Malaysia's exports to Hong Kong were estimated at US$10.13 billion. Hong Kong's exports to Malaysia last year reached US$3.95 billion. Both places are among the favourite short-haul holiday destinations for each other's residents. An estimated 400,000 Malaysians visited Hong Kong and about 240,000 Hongkongers visited Malaysia last year.
Many Malaysian companies have set up large operations in Hong Kong. Among them are Sime Darby Motor Services, a well-established automobile agent in Southeast Asia, and Lei Shing Hong, a major retailer of premium automobiles that also has interests in heavy machinery and property development on the mainland. Others include Public Bank (Hong Kong) and Kerry Group.
'These Malaysian companies are attracted to Hong Kong because Hong Kong is a developed market. It is a good showcase for Malaysian businesses to set up their presence in the city. Hong Kong is also an important gateway to [the] mainland,' Yew says.
Malaysia is one of Hong Kong companies' favourite investment destinations in Asia, primarily in manufacturing. Local companies invested about 2.8 billion ringgit (HK$7.3 billion) in Malaysia last year. 'Overall manufacturing costs in Malaysia are comparatively less than those in the developed coastal region in China. The basic wage of a factory worker in a city such as Shenzhen is about 4,000 yuan (HK$4,867). The average minimum wage of a worker in Malaysia is around HK$1,200,' Yew says. Many Hong Kong companies have established factories in Johor, Penang and some smaller states in the eastern part of the country.
In addition, the Malaysian government has implemented policies that make the country more business-friendly to encourage foreign investment. 'The country has become more flexible. It is very easy to set up companies in Malaysia now,' Yew says.
'When I talk to some Hong Kong people who have visited Malaysia, they always speak of their good impression of the country. They think Malaysia has a comfortable environment and lots of open space,' she adds. 'I believe if Hong Kong people find Malaysia comfortable, they will also be comfortable doing business in Malaysia.'
Wong's two daughters, who were born and raised in Hong Kong, have chosen to develop their careers in the city after completing their university studies in Britain. 'Although both of them are Malaysian passport holders, we are all residents in Hong Kong. They like the business environment here. They realise that they can earn a decent living and play hard here,' he says.
