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Malaysia News Update - November 2002
Bank Negara expects RM2.8 bln inflow of foreign funds	Bank Negara expects RM2.85 billion (US$751 million) in short-term net inflow of foreign currency loans, foreign direct investments or portfolio flows in the next 12 months. In a statement on Oct 31, the central bank said the projection did not include potential inflows from trade, foreign direct investments or portfolio flows.
Bank Negara reserves stood at RM128.9 bln as at Oct 31	Bank Negara's international reserves amounted to RM128.9 billion or US$33.9 billion as at Oct 31, 2002. The Central Bank said the reserves' position was adequate to finance 5.4 months of retained imports and is five times the short-term external debts.
Malaysian economy set for higher growth In Q1 2003	The Malaysian economy is expected to experience higher growth in the first quarter of 2003 compared with the first quarter of 2002, says the statistics department. Its positive forecast was based on the reasonably strong and stable six-month smoothed growth rates of both the Leading and Coincident Indices compiled by the department.
September trade surplus down 8.4% to RM4.8 bln on-year	Malaysia's trade surplus for September 2002 declined 8.4% to RM4.80 billion from the RM5.24 billion a year earlier. However, the trade surplus was up 6.6% from the RM4.50 billion in August. In a statement on Nov 1, the Malaysia External Trade Development Corporation (Matrade) said for the January-September period, the country had a trade surplus of RM36.1 billion. Exports were RM262.90 billion and imports RM226.80 billion.
September industrial output up 9% on-year	The industrial production index (IPI) for September 2002 rose nine per cent from a year early mainly due to the strong expansion in the manufacturing sector. The IPI was also up 1.8 per cent on month. According to a statement by the Statistics Department on Nov 8, the September IPI rose to 194.7 compared with 178.7 a year earlier.
Manufacturing sales 7.8% higher in September	The country's manufacturing sector's sales value expanded by 7.8% or RM2bil in September 2002 to RM27.6bil year-on-year, the highest level since March 2001, the statistics department said.
October CPI up 2.1% on-year	The Consumer Price Index for October rose 2.1% to 103.3 from 101.2 a year earlier. However, when compared with September, the CPI was down 0.1%.
October car sales down 2% on-year	Passenger car sales dipped 2.05% to 31,537 units in October from 32,199 a year earlier. However, car sales were up 12% or 4,171 units from September.
Malaysia GDP to grow by 7.5% for half year	With external demand expected to continue to accelerate through the rest of 2002, Malaysia's real Gross Domestic Product (GDP) can grow about 7.5% in the first half year and taking 2002 growth to 5.2%, an economist said.