This changes shows that our economic is become well and growth in purchasing power, whereby, people are willing to make payment to make installment for private property such as car and house. From my observation, most of people are able to have their own car, even though second hand car. This scenario is good to show that most of Malaysian is willing to fulfill their wants. And directly, it helps in the growth of automobile industry in Malaysia. The market interest rate is affected bank rate. In economic principle, when the interest rate increases, the number of borrowing will decrease and vice versa.
When the number of borrowing is decrease, shows people are unwilling to make loan to make installment in purchasing car, house and personal property. This changes is effected the number of borrowing in funding, people attract to make borrowing to make car loan or housing loan. This shows that any changes in interest rate will affect the number of rowing in bank and directly affect the growth of automobile industry and housing industry. 1. 4. 3 Technological Factor Due to advance technology and rapidly growth of globalization in the world also affect the Malaysian business activity.
Business firm in Malaysia also parallel in apply with advance technology, especially in banking industry. Banking industry in Malaysia is achieve in using business to consumer (BBC) and business to business (BIB) activity to fulfill the customer wants and needs. This application is help customer who are busy in daily to make payment or transaction via internet with quickly and easy. For example, the best banking in Malaysia, Mbabane Bertha was used maybug. Com to accelerate the business activity between bank and customer.
This application is directly help the growth of banking industry to move forward to provide better services in the future. Customers are easily to do transaction and payment at outside the business hour. This is give the convenient and good services provider to them in making their business. Now days, most of banking service in Malaysia was practiced online services in running their business, for example COMB Group with Comb Click, and Bank Islam with bankrolls. Com. Besides in film industry, CRU Group was successful singer group in Malaysia to build CRU Studio in Cybercafé.
The studio is fully applied with maximum advance technology to produce high standard animation film in Malaysia and to generate maximum facilities for entertainment industry in Malaysia. This scenario shows that CRU Group is brilliant to take the risk by install the maximum advance technology to compete with outsider or foreign producer. Here, can summarize that most of industry in Malaysia such as textile industry and education system was applied with the advance genealogy in running their business and to take advantage on the benefits of world without border.
IA. 4 social Factor Social factor is consists the demographic, lifestyle, behavior and culture of the society. So any development or new adoption in social forces will affect the whole of the society. Looking at current scenario in Malaysia, most of people are become aware and consent about health. Malaysian now a day was practicing the heath lifestyle including the skincare, beauty care and body care. So lately, Malaysia was accepting lot of health product in variety of lath problem such as diet, beauty and body health.
Due to increase awareness toward the health issue, the number of Malaysia heath producer also increase. Herbal Prima owned by Dir Roomy was gave the extraordinary impact in diet health lifestyle with the product Jus Mate 5, Gain Eight and others. People who are have weight problem start looking for this kind of product to solve their problem. Besides for adults also was aware with the health issue, for example lot of manufacturer provides health drinking such as Bio Aura and Tongue All. Also lot of company from outside comes to Malaysia to sell their services or product such Gawk was popular with their body machine.
The heath producers become active in selling and produce the innovative and new product to meet with Malaysian awareness about health. Furthermore, since the introduction “Islam Hadrian” concept by Dates Sir Abdullah Mad Bawd, most of Muslim in this country start to wear scarf and practicing the Islamic culture. This is goodness concept and directly helps in textile and scarf industry. Now, become popular is Arians, the brand that provide the variety of scarf and Malaysian business start to take advantage to pen business with the basic of scarf and Islamic wearing such as Angus Slick.