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Malaysia's construction Stocks Are Ready to Grow

Malaysian construction stocks including Gamuda Bhd., IJM Corp. and WCT Bhd. are set to benefit from several "fat years" as the government accelerates a slew of development projects, Maybank Investment Bank Bhd. said.

Prime Minister Najib Razak is yet to award 12 billion ringgit ($3.4 billion) of contracts from two stimulus packages, Wong Chew Hann, a Kuala Lumpur-based analyst at Maybank, said in a report today. The first-quarter economic slump of 6.2 percent underlines the need for faster project implementation, Wong said. "The momentum of awards for construction jobs should quicken," Wong said in the report, reiterating an "overweight" rating on the industry. "Tenders and awards ought to lift the valuations of construction stocks." The rollout of all outstanding contracts has the potential to trigger Malaysia's first building boom since the Petronas Twin Towers and the Kuala Lumpur International Airport projects before the 1997-1998 regional financial crisis, Maybank said. Steelmakers, property developers and construction stocks are already among the year's top climbers on the nation's main index. IJM, helping to build a tunnel for an interstate Malaysian water project, has almost doubled in 2009 and is the second-best performer on the Kuala Lumpur Composite Index. Gamuda, jointly building a railway in the north of Malaysia, has surged 33 percent. WCT has jumped 27 percent.

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Malaysia: Ringgit Bond Issuance To Drop In 2009

The Malaysian Rating Corporation Bhd (MARC) is expecting that Ringgit bond issuance will drop further to between RM25 billion and RM30 billion as the global economic downturn continues.

The Malaysian Rating Corporation Bhd (MARC) is expecting that Ringgit bond issuance will drop further to between RM25 billion and RM30 billion as the global economic downturn continues. Total bond issuance dropped by 8.3 percent to RM49 billion in 2008 after hitting a record high of RM54 billion in 2007. It is hoped that the establishment of the Financial Guarantee Institution (FGI) will encourage lower rated issuers to come back to the market.

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Malaysia To Take Extra Measures If Global Economy Worsens

Bank Negara Governor Tan Sri Dr. Zeti Akhtar Aziz said that Malaysia has the capacity to take additional measures if the global economy worsens and financial conditions fail to stabilize after the second half of the year.

Bank Negara Governor Tan Sri Dr. Zeti Akhtar Aziz said that Malaysia has the capacity to take additional measures if the global economy worsens and financial conditions fail to stabilize after the second half of the year. These measures include stimulus measures and monetary measures. The central bank has forecast growth in 2009 between 0.1 percent and 1 percent and unemployment to increase from 3.7 percent last year to 4.5 percent this year.

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New Dutch Investment in Malaysia

The Netherlands is set to launch a new investment in Malaysia during the Netherlands' Council for Trade Promotion chairman, Jochum Haakma's visit to the country on March 25.

The Netherlands is set to launch a new investment in Malaysia during the Netherlands' Council for Trade Promotion chairman, Jochum Haakma's visit to the country on March 25. The Netherlands has invested over RM1.8 billion in Malaysia, making it the country's 8th largest foreign investor. A statement from the Dutch embassy said that the current economic climate will not stop Dutch traders and investors from looking into opportunities abroad, particularly in the Asian region.

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Malaysia To Forge New Economic Model

Deputy Prime Minister Datuk Seri Najib Tun Razak said Thursday that Malaysia will use the current economic downturn as a springboard to forge a new economic model by using knowledge as its lead.

Deputy Prime Minister Datuk Seri Najib Tun Razak said Thursday that Malaysia will use the current economic downturn as a springboard to forge a new economic model by using knowledge as its lead. The government will invest in education and technology to strengthen the country's information technologies, renewable energy and emerging sectors of the new economy. The goal is to harness the talent, energy and drive of all Malaysians.

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Malaysia To Tap Growing Islamic Tourism

Malaysia launched the Islamic Tourism Center (ITC) today in Malacca with hopes to encourage tourist arrivals from Muslim nations and Muslim communities abroad.

Malaysia launched the Islamic Tourism Center (ITC) today in Malacca with hopes to encourage tourist arrivals from Muslim nations and Muslim communities abroad. They see the Islamic tourism sector as a potential boon for the country's tourism industry. Islamic tourism covers numerous aspects, including the economy and the arts. ITC was set up after several Muslim nations requested for it to help Malaysia share their tourism experience.

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Malaysian Government Unveils RM60b Stimulus Package

The Malaysian government has unveiled a stimulus package worth RM60 billion, about 9 percent of gross domestic product to boost economic activity.

The Malaysian government has unveiled a stimulus package worth RM60 billion, about 9 percent of gross domestic product to boost economic activity. The package will run through 2009 and 2010. Of the RM60 billion, RM15 billion is fiscal injection, RM25 billion guarantee funds, RM10 billion equity interests, RM7 billion private finance initiative and off budget projects and RM3 billion in tax incentives. The higher government expenditures will increase the federal budget deficit from 4.8 percent to 7.6 percent this year.

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Malaysia Plans Biggest Debt Auction Since 2004

Malaysia's finance ministry will be selling RM4.5 billion ($1.21 billion) of securities maturing in April 2014 on March 12.

Malaysia's finance ministry will be selling RM4.5 billion ($1.21 billion) of securities maturing in April 2014 on March 12. This is the biggest single debt auction the country is holding since 2004, when the treasury sold RM5 billion of three-year notes. The government aims to boost public spending to prevent a recession. Next week's auction will take the government's bond sales this year to RM20 billion, making it the busiest start to a year since the publishing of auction statistics in 1999. The government is also set to unveil a "bigger and more comprehensive" stimulus package on March 10.

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Malaysia's Palm Oil At 'Manageable' Level

Malaysia's Commodities Minister, Datuk Peter Chin, recently said that palm oil has been trading at a “manageable” level since the country introduced measures to cut output last year.

Malaysia's Commodities Minister, Datuk Peter Chin, recently said that palm oil has been trading at a "manageable" level since the country introduced measures to cut output last year. Malaysia, the world's second-biggest producer of palm oil after Indonesia, has been trading the commodity for between RM1,400 and RM1,900 per metric ton, which, according to Chin, is sufficient to provide the country with the export earnings that it needs . Malaysia and Indonesia, who together accounts for 90 percent of global palm oil output, agreed in November to replant old estates, effectively cutting annual output by as much as 800,000 metric tons

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Malaysia Cuts Key Interest Rate To 2%

The Bank Negara Malaysia, the country's central bank, cut its key rate by 50 basis points to 2 percent on Tuesday.

The Bank Negara Malaysia, the country's central bank, cut its key rate by 50 basis points to 2 percent on Tuesday. It cited their rising concern about Malaysia's economic growth as a reason for cutting the rate. It also cut the commercial banks' statutory reserve requirement by 100 basis points to 1 percent, starting on March 1. This was the third interest rate cut and came after a 75 basis point cut in January.

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Malaysia's Commodities Earn Record in 2008, Expected To Slow This Year

Malaysia earned a record RM112.4 billion for exporting commodities in 2008.

Malaysia earned a record RM112.4 billion for exporting commodities in 2008. Palm oil makes up the majority of the country's commodity exports, accounting for over 57 percent of earnings last year. But exports of commodities are expected to fall this year as prices have fallen. Palm oil prices have fallen from RM4,486 per tonne in March last year to around RM1,900 this month.

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