• SUVANNABHUMI
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• v.16 no.1
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• pp.229-269
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• 2024

This research aims to comprehend the progress of Halal tourism in specific Indonesian regions, including Aceh, West Sumatra, Riau, and Riau Islands. It investigates ways to boost this progress through collaboration within the IMT-GT. Majority of the population in these areas, as in Malaysia and Southern Thailand, is Muslim. Consequently, developing Halal Tourism within the IMT-GT framework poses a challenge for them. While the IMT-GT framework already encompasses the Tourism and Halal Product sectors, it doesn't explicitly mention Halal Tourism aspect. Despite this, efforts to develop Halal Tourism in Indonesia offer opportunities for both domestic growth and taking advantage of proximity to two more advanced neighboring countries, Malaysia and Thailand, in this aspect. This research employs explanatory analysis, examining Indonesia's opportunities and approaches to developing the Halal Tourism sector, both domestically, designed by the Halal Tourism Development Strategic Plan 2021-2024, and within the IMT-GT framework itself. A new aspect of this study involves assessing the readiness within Indonesia and its correlation with the opportunities provided by the IMT-GT. Indonesia should actively embrace opportunities presented by its two neighboring countries. The recognition through various awards that Indonesia has received can strongly motivate efforts to enhance the preparedness of regions designated for Halal Tourism. The economic corridors established by the IMT-GT among these three countries can serve as a conduit for Indonesia's advancement in developing Halal Tourism.

• Management & Information Systems Review
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• v.27
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• pp.131-147
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• 2008

The study examines common component existing in five Asian countries from 1991 to 2007. To do this, the daily stock market indices of Korea, Malaysia, Thailand, Indonesia, and the Philippines were used. Using a Vector Autoregressive Model this paper analyzes causal relations and dynamic interactions between five Asian stock markets. The findings in this study indicate that level of five Asian stock markets' stock return linkages are low. First, from the statistics for pair-wise Granger causality tests, I find Granger-causal relationship between Korea and Indonesia and between Malaysia and and Indonesia. Second, from the results of response function and the statistics of variance decomposition, I find that week shocks to Korean stock market return on Malaysia, Indonesia, Thailand, and the Philippines stock market returns. The results indicate increased Asian stock market linkages but the level is very low. This implies that the benefits of diversification within the five Asian stock markets are still existed.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.11
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• pp.117-126
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• 2020

This paper is aimed to explore the co-movement capital market in Southeast Asia and analysis the correlation of conventional and Islamic Index in the regional and global equity. This research become necessary to represent the risk on the capital market and measure market performance, as investor considers the volatility before investing. The time series daily data use from April 2012 to April 2020 both conventional and Islamic stock index in Malaysia and Indonesia. This paper examines the dynamics of conditional volatilities and correlations between those markets by using Multivariate Generalized Autoregressive Conditional Heteroscedasticity (MGARCH). Our result shows that conventional or composite index in Malaysia less volatile than Islamic, but on the other hand, both drive correlation movement. The other output captures that Islamic Index in Indonesian capital market more gradual volatilities than the Composite Index that tends to be low in risk so that investors intend to keep the shares. Generally, the result shows a correlation in each country for conventional and the Islamic index. However, Internationally Indonesia and Malaysia composite and Islamic is low correlated. Regionally Indonesia's indices movement looks to be more correlated and it's similar to Malaysian Capital Market counterparts. In the global market distress condition, the diversification portfolio between Indonesia and Malaysia does not give many benefits.

• Journal of Arbitration Studies
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• v.25 no.2
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• pp.19-47
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• 2015

International arbitration is an increasingly popular means of alternative dispute resolution for cross-border commercial transactions. The primary advantage of international arbitration over court litigation is enforceability. An international arbitration award is enforceable in most countries in the world. Especially, statistics indicate of ASEAN such as Malaysia and Singapore that the vast majority of defeated companies comply with the terms of international arbitral awards against them or settle soon after the award is rendered. Unlike Malaysia and Singapore, in Indonesia, there are several grounds for refusal of enforcement of an award including where both the nature of the dispute and the agreement to arbitrate do not meet the requirements set out in the Arbitration Law. Because Indonesia does not acknowledge decisions of foreign courts, theoretically they could enforce an international arbitral award which was set aside by the court in the seat of arbitration. This paper introduces the legal system and cases of recognition and enforcement of foreign arbitration awards in ASEAN, especially Malaysia, Singapore, and Indonesia. Secondly, by comparing their law and cases, the paper emphasized the international suitability and global fitness in involved in recognition and enforcement of foreign arbitration awards.

• MALSORI
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• no.58
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• pp.19-34
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• 2006

The present study investigates the vowels of Bahasa Malaysia and Bahasa Indonesia in terms of the first two formant frequencies and provides a three-dimensional formant chart of vowels by plotting F1, F2, and the frequency of datapoints on 4 different scales: Hz, mel, bark, and the number of ERB. For this study, we recruited 30 male native speakers of Bahasa Malaysia and Bahasa Indonesia (15 each) which include 6 vowels (i, e, a, o, u, e) in various contexts. The three-dimensional formant chart showed geophysics of vowel space, such that mountain peaks stand in particular locations with a higher frequency of occurrence of datapoints. The geophysics of vowel space may shed lights on the perceptual structure of vowel space. The results also showed that vowels in utterance-final positions have a significantly higher F1 and a significantly lower F2 than those in utterance-medial or utterance-initial positions, which means that vowels in utterance-final positions are more back and lower in vowel space than those in utterance-medial or utterance-initial positions.

• Proceedings of the KSPS conference
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• 2006.05a
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• pp.63-66
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• 2006

This present study investigates the vowels in Bahasa Malaysia and Bahasa Indonesia in terms of the first two formant frequencies. For this study, we recruited 30 male native speakers of Bahasa Malaysia and Bahasa Indonesia (15 each) which include 6 vowels (i, e, a, o, u, a) in various contexts. The present study provides a three-dimensional vowel space by plotting F1, F2, and the frequency of datapoints. This study is significant in that the geophysics of vowel space presents yet another view of the vowel space.

• Journal of Fashion Business
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• v.24 no.2
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• pp.85-99
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• 2020

The purpose of this study is to investigate the fashioning phenomenon of Muslim women's clothes and its significance for Islamic culture around Malaysia and Indonesia. The study examined the phenomenon of hijab, a cultural symbol of Muslim women, emerging as a 'fashion' rather than folk or religious costume, as well as its significance. As for methodology, the investigator reviewed research reports, previous papers, and literature studies home and abroad since 2010 and conducted an interview with seven female college students from Indonesia and Malaysia and one fashion editor from Malaysia staying in South Korea. The findings suggested that the high level of women's education and entry into society along with the Pop Islamic created an opportunity for hijab among Muslim ladies. The balance between religion and fashion leads to happiness among young Muslim women. Second, the modest fashion and global fashion retrends present a fashion culture and identify the diversity of aesthetic values around the globe. Finally, SNS and hijabista activities have promoted individual means of direction based on hijab to represent the identity of Muslims on SNS, they play an important role in the acceptance of global fashion and the fashioning and globalization of Southeast Asian Muslim clothes. The findings understanding of the consumers and markets of Muslim fashion related to global industries and contribute to the multicultural and diverse aspects of research and development in the field of apparel study.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.10
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• pp.451-459
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• 2020

This study aims to examine the causality between production input and the price of rice in East Java, Indonesia. This study applied a quantitative method to understand in a comprehensive way the correlation between variables. The data used for this study were collected from several sources, including East Java Agriculture Office, Siskaperbapo.com, and Statistics Indonesia (BPS) of East Java. This research was carried out over five years, starting from 2014 to 2018. Furthermore, the data were analyzed using the Vector Error Correction Model (VECM) by employing E-Views (version 7). The findings of this study indicated that, in the long run, the population, rice production, and changes in people's income have a positive effect on price stability, but are inversely proportional if seen in the short term. In comparison, in the long run, farmer exchange rates variable has a negative impact on price stability, and inversely proportional in the short term, which has a positive effect. There are different implications when the people's income increases and the rice price declines; these have great potential to alleviate poverty in East Java, Indonesia. This is due to the fact that the price stability also concerns the welfare of the community.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.3
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• pp.731-740
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• 2021

This research aims to investigate the determinants of real effective exchange rate in emerging ASEAN countries, including Indonesia, Malaysia, Philippines, Thailand, and Vietnam. The research was conducted by using quarterly time series data set from 1980Q1 to 2020Q3. Cointegration and the error correction model (ECM) methods were applied to test the long run and short run relationship of the real effective exchange rate and its determinants. The results indicate that the ratio of foreign direct investment to GDP and the government spending have significantly positive impact on real effective exchange rate in the Emerging ASEAN countries. The trade opening had influencing real effective exchange rate in most the Emerging ASEAN countries, except Vietnam. In addition, the international reserve (INR) had significant long-run impacts variables on real effective exchange rate in Malaysia, Thailand and Vietnam. In the short run equilibrium, the error collection term suggest that Indonesia and Malaysia are the fastest speed adjustment to equilibrium. In addition, the term of trade influence the real effective exchange rate in Indonesia, Malaysia, and the Philippines but it is not in Thailand and Vietnam. However, FDI is a major factor of the real effective exchange rate in Vietnam, but not for other countries.

• SUVANNABHUMI
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• v.15 no.1
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• pp.229-254
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• 2023

This study observes the language attitude and maintenance of the border community in Telok Melano, Lundu (Sarawak, Malaysia) and Desa Temajuk, Sambas (West Kalimantan, Indonesia). The main objective of this study is to study the language attitudes of two cross-border community who shares the socio-cultural, language, and economic realms. The research data is collected qualitatively through conversation recordings, face-to-face interviews, and participant observations. In this preliminary study, twelve informants (six from Telok Melano and six from Desa Temajuk) were chosen based on the quota sampling method. The questions for the interview were set according to three characteristics of language choice proposed by Garvin and Mathiot (1968), namely language loyalty, language pride, and the awareness of norms. The result of this study indicates that language loyalty, language pride, and awareness of the norms towards the speakers' mother tongue and national language are relatively high. In terms of identity maintenance issues, this study found that the community in Telok Melano (Sarawak), originally identify themselves as "Sambas Malays," shifted to "Sarawak Malays" after the formation of Malaysia in 1963. This preliminary study serves as a basis for further research particularly on the complexity of issues concerned with the border communities in the Southwest of Sarawak.