As expected, it was a non-event, as had been during the century change. It has become clear that our successful management of the Y2K problem was, to a great extent, due to our diligent adherence to prescribed international standards of remediation and testing, verification and contingency planning. Before we draw the curtain on the Y2K issue, as the Minister charged with the responsibilities of coordinating national efforts towards Y2K readiness, I take pride in thanking all individuals and organisations for their concerted effort in overcoming what seemed like a mammoth task that confronted us when we first started. They have all been methodical, meticulous, thorough and professional. According to financial reports, the public sector spent RM224 million of the RM800 million amount allocated, while private sector spending totalled around RM1 billion.
Some people now have doubts about the usefulness of such spending.
I believe that it was worthwhile spending what was spent. If we think about it, even without the Y2K issue, processes are reviewed and equipment upgraded from time to time. This is an integral part of the continuous improvement process in most organisations. All throughout the year 1999, during the global quest for Y2K readiness, independent groups were doing research on the state of readiness of each country as regards their preparation in facing the new millennium. These results were well publicised throughout the world and became a criteria for investment.