| Malaysia
News Update - March 2003 |
| Govt
to unveil new sources of growth |
The
government will unveil new sources of growth including the
promotion of the country's capital market overseas by April
to cushion the impact of the impending US-led war against
Iraq, Second Finance Minister Datuk Dr Jamaludin Mohd Jarjis
says. |
| Abdullah
announces 10 steps to make companies more attractive |
The
Government announced 10 measures, including new guidelines
for the listing of large companies, aimed at further enhancing
the Malaysian capital market.
The other measures include reduction in stamp duty, standardisation
of board lots, merger of government-linked companies and reduction
of moratorium and initial public offering (IPO) processing
time. The measures will also see Foreign Investment Committee
approvals to be processed by the Securities Commission, the
introduction of performance incentives, and enhancing capital
markets skills and the role of intermediaries. |
| PM:
Govt working on broad-based stimulus package |
The
government is working on a broad-based economic stimulus package
that could include fiscal and monetary measures, says Prime
Minister Datuk Seri Dr Mahathir Mohamad. He further added
that the stimulus package was needed to support the country's
economic well being. |
| Dollah:
Govt to minimize impact of Iraq war |
Acting
Prime Minister Datuk Seri Abdullah Ahmad Badawi says the government
will implement measures to minimise the impact from the US-led
war against Iraq. In a national televised programme at 1pm
on March 20, Abdullah said the measures would ensure the fallout
from the war would not adversely affect the country's capital
and foreign exchange market. He expected that the war would
have an effect on the global economy, especially on the transportation
and tourism sectors. It would also have an impact on oil supplies
and prices, he added. |
| January
trade surplus up 38% to RM6.3bln on-month |
Malaysia's
trade surplus for January 2003 rose 38.5% to RM 6.28 billion
from RM4.53 billion in December, on the back of an improvement
in exports. This was the largest monthly trade surplus recorded
since March 2000. |
| Malaysia
to issue RM5 bln-RM8 bln bonds |
Malaysia
will issue between RM5 bln and RM8.0 bln of five-year domestic
bonds this month, according to Reuters. The report said up
to RM10.3 bln of Malaysian Government Securities (MGS) would
expire by the end of March, necessitating the central bank
to launch a new issue soon.
Bank Negara is expected to issue the bonds via a market auction
on either 14 or 28 March. So far this year, the central bank
has placed RM7.0 bln of 10-year and 15-year MGS in three tranches
to private investors. To fund its fiscal and operating commitments
in 2003, dealers expect the government to sell between RM25
bln and RM30 bln of MGS, nearly double the RM18 billion it
raised last year. |
