NST Online Business Times : latest
NST Online Business Times : latest |
| Malaysia may miss GDP growth forecast:MIER Posted: 12 Oct 2011 07:12 PM PDT Malaysian growth may miss government forecasts this year as a weakening global economy hurts exports, the Malaysian Institute of Economic Research said. The partly government-funded institute today cut its 2011 estimate for gross domestic product expansion to 4.6 percent from 5.2 percent. That's below a range of 5 percent to 5.5 percent forecast by the Ministry of Finance last week. "Increasing global uncertainties from the euro zone is expected to dent the economic outlook in the U.S. and China, leading to weaker exports growth in Malaysia," MIER said in a report today. Any return to recession for the global economy would damage Malaysia's recovery, after GDP expanded the most in a decade last year. A recent pick-up in exports may be short-lived as risks from a faltering U.S. economy and the European debt crisis damp global demand and capital spending, hurting growth in Asian nations.
GDP may expand 5 percent in 2012, MIER said, cutting its earlier 5.5 percent forecast. This is within the government's projected growth range of between 5 percent and 6 percent. Inflation will average 3.1 percent this year, before easing to 2.7 percent in 2012 as global commodity prices drop with worldwide growth, the institute said. Central bank monetary policy is expected to stay "fairly accommodative" to support growth, said MIER. Its benchmark overnight policy rate will remain at 3 percent for this year and next, with a downward bias should domestic demand wane, it said. The ringgit will average 3.20 against the dollar this year, before appreciating to 3.10 in 2012, according to report. -- Bloomberg |
| YTL Power raised to 'buy', stock climbs Posted: 12 Oct 2011 07:14 PM PDT YTL Power International Bhd rose to a two-week high in Kuala Lumpur trading after the stock was upgraded at Maybank Investment Bank Bhd, which cited its "attractive" valuation. The stock climbed 1.8 percent to RM1.72 at 10:06 a.m. local time, set for its highest close since Sept. 29. YTL Power was raised to "buy" from "hold," Maybank Investment said in a report today. -- Bloomberg |
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