The global economy expanded at a moderate pace in early 2014, albeit, uneven across and within regions. While growth in the US continued to display strength and showed broad signs of improvement, economic activities in Europe and Japan remained subdued. As the year progressed, downside risks to overall global growth re-emerged following geopolitical developments in Eastern Europe and the Middle East, coupled with weaker-than-expected economic activities in a number of major economies. In addition, there were rising concerns over the growth prospects of commodityproducing emerging economies amid the significant decline in the prices of oil and other commodities in the second half of the year. Dato’ Ab. Halim bin Mohyiddin Chairman I would like to take this opportunity to thank YBhg. Datuk George Ratilal, as the previous Chairman of the Board of Directors and YBhg. Datuk Nasarudin Md Idris, who retired as the President/Chief Executive Officer of MISC Berhad at the end of the financial year, for their stewardship and wisdom in steering the Group the past few challenging years. MISC BERHAD - Annual Report 2014 p 46 CHAIRMAN’S STATEMENT
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