Oleh/By : DATO SERI DR MAHATHIR BIN MOHAMAD
Tempat/Venue : PUTRA WORLD TRADE CENTRE,
KUALA LUMPUR
Tarikh/Date : 01/11/2002
Tajuk/Title : THE KUALA LUMPUR INTERNATIONAL
MONEY FAIR (KLIMOF) 2002
Versi : ENGLISH
Penyampai : PM
I would like to thank the organisers for inviting
me to officiate the inauguration of the Kuala Lumpur
International Money Fair (KLIMOF) 2002. This Money
Fair is a historic event for the Malaysian numismatic
community.
2. The KLIMOF exhibition and conference offers a one-
stop centre for visitors and investors alike to learn
about collecting and valuing coins and notes. Together
with its concurrent events -- Kuala Lumpur
International Investment Fair 2002 and Kuala Lumpur
International Collectible Fair 2002 -- KLIMOF 2002 will
certainly provide a vast range of opportunities for
industry professionals and entrepreneurs to showcase
their cutting-edge businesses, products and services.
3. The KL International Money Fair was initiated by
the Royal Mint of Malaysia with the aim to bring
together both local and foreign numismatic collectors
in this world-class exhibition, the first of its kind
ever held in Malaysia.
4. The coins and notes that are being displayed today
illustrate how payment systems throughout the world
have evolved over the centuries. Money is a medium of
exchange. It determines the value of the goods or
services being offered for sale or purchase.
Accordingly the need to barter goods or services is
eliminated. Trade becomes easier and commerce is
enhanced. More wealth is created for all.
5. With the advancement of global economies and the
increased sophistication of trade and financial flows
and, more recently, the rapid development of the
Internet and electronic commerce, the role of money in
the physical form is changing.
6. Indeed, transactions of goods and services and
even capital flows can take place with a phone call or
the touch of a computer keyboard. There need not be any
physical cash transactions.
7. These developments suggest that money in today's
definition is just information which can be transmitted
electronically to facilitate business transactions. As
a result, the usage of coins and notes will decrease as
e-commerce expands. It is perhaps worthwhile to recall
that the currency which the currency traders bought and
sold were mere figures on computer screens. The money
when it was finally delivered involved only the change
in the names of the owners of bank accounts. No real
money changed hands. Clearly figures on a computer
screen have taken the place of money. Yet the effect
can be devastating for whole countries and businesses.
8. Credit cards and E-commerce will make the supply
of physical money less necessary. Numismatists are
going to find collecting money less easy. This may in
fact increase the interest of numismatists and add to
their numbers. Indeed, coins and notes will be
transformed from an item of economic value to a
collectible item, which will be treasured by coins and
notes enthusiasts.
9. The South East Asian region and in particular
Malaysia has a rich heritage of money. Before the
evolution of modern coins and notes, communities
throughout the Malay Archipelago used various items
such as shells as medium of exchange. These items as
well as notes and coins in Malaysia have contributed to
the storehouse of collectibles for coins and notes
enthusiasts.
10. Numismatic is a rewarding hobby, in every sense of
the word. Indeed, the collection of rare coins can be
a form of investment, which may increase in value in
the future.
11. For example, the Malaysian ten-cent coin, issued
by Bank Negara Malaysia as recently as 1971 is traded
among collectors for about RM120 a piece. This is
because of the relative rarity due to limited mintage
of the coin, totalling about 48,000 pieces only. There
are also other commemorative coins issued by Bank
Negara Malaysia to mark historical events, which have
now become collectors' items.
12. There are now market players and collectors in
every major city in the world. Major international
money fairs are being held regularly throughout the
world to tap into this lucrative market.
13. The development of the secondary market is
important to sustain the continuing interest in
numismatic collectibles. This would require strong
commitment of all parties including the mints,
collectors and secondary market dealers.
14. Indeed, it would be in the interest of the world
mints, including the Royal Mint of Malaysia, to nurture
and develop further the secondary market that trade in
new and old coins and notes. Efforts should also be
made to establish an infrastructure to support the
transactions amongst collectors and secondary market
dealers.
15. To facilitate the transactions in the secondary
market, a systematic way of disseminating information
among the market participants should be developed.
These should include setting up a formal exchange for
the secondary market. This exchange would help to
provide integrity in the transaction of collectibles.
16. In this context, we see that the role of the Royal
Mint of Malaysia like other world mints is changing.
Going forward, the role of the Royal Mint of Malaysia
should expand beyond just producing coins for general
circulation. The Royal Mint of Malaysia should take
on a greater role in promoting the interest in
collectibles in Malaysia and the region.
17. I note that the Royal Mint of Malaysia has
expanded its capabilities to produce high quality gift
items including porcelain figurines, plates, silverware
and medallions.
18. I believe there is a great potential for quality
collectibles and gift items. The Tourist Development
Corporation of Malaysia has estimated that tourists
visiting the country spend about RM9 billion a year
buying goods. About 20 percent of this is spent on
collectible products; therefore there is almost RM1.8
billion worth of this market to tap. Indeed, the Royal
Mint of Malaysia is positioned not only to produce
circulation coins, but also fine numismatic and
collectible items for both the domestic and export
markets.
19. In Malaysia, there is still room for development
in the numismatic market. I hope that the Royal Mint of
Malaysia and the Malaysian Numismatic Society, with the
support of Bank Negara Malaysia, will jointly initiate
promotional activities to nurture the interest in
numismatic as a hobby and to develop the market for
collectible coins and notes into a viable industry. I
am confident that this exhibition will help to enhance
the interest in numismatics among Malaysians.
20. I would like to congratulate the host of KL
International Money Fair 2002, The Royal Mint of
Malaysia, and the organiser PROTEMP Sdn Bhd for their
efforts in making this event a success.
21. This event has also received the support from Bank
Negara Malaysia and the Malaysian Numismatic Society.
I hope this will become an annual event, which the
international numismatic community can look forward to.
22. I now have pleasure to declare The Kuala Lumpur
International Money 2002 Fair open.
Sumber : Pejabat Perdana Menteri
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