MPI Monthly Report November 2011
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MPI Monthly Report November 2011
CITY OF MILLIONAIRES?
Posted Date: Nov 30, 2011
By: MPI
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Perak takes its name from the silvery colour of the rich tin deposits for which it is renowned. Ipoh, the state capital of Perak, is known historically for its tinmining activities. “City of Millionaires” is one of its nicknames referring to the vast fortunes made during the mining era.
The world’s tin industry collapsed in the 80’s and forced the once-bountiful state to look into diversification of its economic activities by developing valueadded, resource-linked manufacturing industries as well as boosting its services sector.
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