Monday, October 20, 2008

Malaysia reveals plan to prevent slow down

Malaysia has unveiled a number of measures to boost its stock market and attract more foreign investment in expectation of slower growth in 2009.
The government will invest 5bn ringgit (£814.4m; $1.4bn) into a state agency that will invest in undervalued stocks.
Malaysia's stock market has plummeted 37% this year.
The government will also speed up market liberalisation and ease rules concerning foreign investors buying industrial land and property.
Despite the action, Malaysian finance minister Najib Rasak has denied the country is in the grip of a financial crisis.Malaysia is expected to reduce its economic growth forecast of 5.4%. The Malaysian Institute of Economic Research has said the growth rate could fall to 3.4% next year.

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