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Malaysia: Southeast Asia
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Malaysia, a founder member of ADB, is the seventh largest shareholder among regional members and the 10th largest shareholder overall. Following the Asian financial crisis in the late 1990s, Malaysia largely eschewed borrowing from multilateral assistance sources. No new loans from ADB have been approved since 1998.
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Malaysia is an active member of the Asia Pacific Economic Cooperation (APEC), the Organization of the Islamic Conference (OIC), the Non-Aligned Movement (NAM), and the United Nations. It is the current chair of the OIC and has ... chaired the NAM. Malaysia hosted the APEC Leaders' Meeting in 1998.
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Malaysia participated in the 2007 AFC Asian Cup as co-hosts along with Vietnam, Thailand and Indonesia. They were placed together in Group C with China, Uzbekistan and Iran. They lost all three matches, including losing 1-5 to China and 0-5 to Uzbekistan, which were downright humiliating. With an aggregate score of 12-1, Malaysia became the only team that finished the tournament without any points.
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Beginning in 1997 and continuing through the next year, Malaysia suffered from the Asian currency crisis. Instead of following the economic prescriptions of the International Monetary Fund and World Bank, the prime minister opted for fixed exchange rates and capital controls. In late 1999, Malaysia was on the road to economic recovery, and it appeared Mahathir's measures were working.
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The name "Malaysia" was adopted in 1963 when the Federation of Malaya, Singapore, North Borneo and Sarawak formed a 14-state federation.[7] Yet, the name itself had been vaguely used to refer to unspecified areas in Southeast Asia. A map published in 1914 in Chicago has the word Malaysia printed on it referring to certain territories within the Malay Archipelago.[22] The Philippines once contemplated to name their state "Malaysia" but Malaysia adopted the name first in 1963 before the Philippines could act further on the matter.[23] Other names were contemplated for the 1963 federation. Among them was Langkasuka; Langkasuka was an old kingdom located at the upper section of the Malay Peninsula in the first millennium of the common era.[24]
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In the late 1990s, Malaysia was shaken by the Asian financial crisis as well as political unrest caused by the sacking of the deputy prime minister Dato' Seri Anwar Ibrahim. In 2003, Dr Mahathir, Malaysia's longest serving prime minister, retired in favour of his deputy, Abdullah Ahmad Badawi, commonly known as Pak Lah.
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