| Malaysia
News Update - December 2002 |
| MIER expects 4Q GDP at 5.4% |
The Malaysian Institute of Economic Research (MIER) expects Malaysia's gross domestic product (GDP) to grow by 5.4% in the fourth quarter, on the back of a lower growth projection for the tourism industry in view of the threat of war in Iraq.
Meanwhile, Prime Minister Datuk Seri Dr Mahathir Mohamad says that if Malaysia had not made a conscious effort to seek new markets and gradually reduce its dependence on the US things would have been much worse.
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| Govt to unveil new growth strategies |
Second
Finance Minister Datuk Dr Jamaludin Jarjis says Prime Minister
Datuk Seri Dr Mahathir Mohamad will announce details of the
package which comprises Malaysia's new strategies to sustain
growth when releasing its gross domestic product figure for
the fourth quarter of 2002. The GDP figure is expected to
be released by end-February. |
| October IPI up by 6.4% |
The industrial production index (IPI) for October rose by 6.4% from a year ago as all three sectors of the index - mining, manufacturing and electricity - expanded, said the Statistics Department. |
| Up to RM 18b MGS issues expected |
The investment fraternity anticipates the Government to issue RM15 billion-RM18 billion worth of Malaysian Government Securities this year to part-finance its expenditure and pump-priming measures. |
| Bank Negara reserves rise to RM130 bil |
Bank
Negara's international reserves increased by RM 481.1mil or
US$126.6mil to RM 130.9bil or US$34.4bil as at Nov 30, 2002. |
| September trade surplus up 12% to RM4.8 bln on-year |
Malaysia trade surplus rose 12% to RM4.85 billion in October 2002 compared with the RM4.33 billion a year earlier. October exports rose 11.2% to RM31.92 billion from RM28.71 billion a year earlier. Imports grew 11% to RM27.06 billion from the RM24.37 billion a year earlier. The Malaysia External Trade Development Corporation (Matrade) said that the October trade surplus was up 2% when compared with the RM4.33 billion in September 2002. |
| October manufacturing sales value up 5% on-yr to RM27 bln |
The sales value of the manufacturing sector for October 2002 rose 5.0% or RM1.3 billion to RM27.2 billion from the RM25.9 billion a year earlier. However, the sales value for the current month was 1.1% or RM300 million lower compared with that of RM27.5 billion reported in September this year. The month-on-month decline was due to the higher base in September when the sales value was the highest since March 2001. |
| CPI rises 1.6% yr-on-yr in November |
The consumer price index (CPI) rose 1.6% year-on-year in November and was up 0.3% compared with October, according to the latest Statistics Department figures. |
| November car sales down 9% on-yr |
Sales of passenger cars fell 9% in November 2002 to 28,716 units from 31,839 units a year earlier. |
| Dr. M : No need to review ringgit peg for now |
Prime
Minister Datuk Seri Dr Mahathir Mohamad says there is currently
no other factor that could make Malaysia review its ringgit
peg, except for sustained wide swings in the comparative value
of the local unit against major currencies. |
