Dear Members & Friends,
 

MITI to draw up new promotion strategies

The Ministry of International Trade and Industry (MITI) is drawing up  new promotion strategies to attract foreign direct investments (FDIs) to Malaysia, taking cognizance of the stiff global competition for FDIs.

The strategies would target to woo foreign companies to invest in  strategic sectors in the country. Tan Sri Muhyiddin Yassin, the  Minister of International Trade and Industry said, after a meeting with business leaders in Seremban, Negeri Sembilan.

The meeting is part of the Minister's nationwide tour to meet prominent corporate figures from all the states.

Negeri Sembilan, the Minister said, had attracted some RM2.7 billion in  40 projects approved last year, of which RM2.2 billion or 81.5% were  foreign investments. The majority of these foreign investors came from  South Korea, India, Singapore, Bermuda and Japan and the main areas  of interests were in the electronics, textile, metal and the machinery sectors.

Malaysia's IP grew 3% in March

Malaysia's Industrial Production Index (IPI) for March 2008 grew 3% compared with the corresponding month last year, based on the latest preliminary release by the Department of Statistics (DOS).

The increase was attributed to expansion in the manufacturing and mining sectors, which registered growth of 3.7% and 1.8% respectively,  while the electricity sector declined 1.0%.

On a cumulative basis, the IPI for the first quarter of the year was 5.6% compared with the same quarter in 2007. The March IPI also added 5.2% month-on-month.

In the manufacturing sector, the index for March 2008 expanded 3.7%  compared with the same month last year, while month-on-month, the  sector grew 4.5%. For the first quarter, the manufacturing sector recorded a growth of 6.4% compared with the same quarter last year.

The high Manufacturing Index in March was driven by expansion in  the television, radio, sound or video recording or reproducing apparatus  by 51.7%; basic precious and non-ferrous metals by 29.4% and glass and glass products by 29.0%.

The mining sector grew 1.8% in March 2008 year-on-year due to the  expansion in the crude oil by 3.6%, while the tin and natural gas sectors declined 6.9% and 0.9% respectively.

The cumulative growth for the first quarter of the year was 3.7% over  the corresponding quarter last year. The mining sector also added 6.5% month-on-month.

Meanwhile, the Electricity Index declined 1.0% in March 2008 as compared with the same month a year earlier. However, compared to the preceding month, the Electricity Index grew 8.0%, while the  cumulative first quarter saw an increase of 4.5% compared with the corresponding quarter last year.

Manufacturing sales up 9.6% in March'08

Manufacturing sales in March 2008 expanded 9.6% or RM4.2 billion to RM48.1 billion, vis-a-vis the corresponding month in 2007, according to the latest release from the Department of Statistics (DOS).

The year-on-year growth was mainly driven by significant increases in  five major manufacturing industries -  the refined  petroleum products  (59.3%); computers and computer peripherals (25.4%); basic iron and  steel products (36.1%); motor vehicles (26.3%) and other basic industrial chemicals except fertilizers and nitrogen compounds (12.6%).

Month-on month, sales in the manufacturing sector also saw an increase  of 10.1% or RM4.4 billion compared with RM43.7 billion in February, 2008.

For the first quarter of the year, manufacturing sales recorded a double-digit growth of 14.7% or RM17.8 billion to RM138.9 billion as against the same quarter in 2007.

The total number of employees engaged in the manufacturing sector in  March 2008 increased marginally by 0.5% or 5,442 persons to 1,089,067  persons, year-on-year. Compared with the preceding month, the total  workers employed in the manufacturing sector in March declined 0.7%  or 7,334 persons.

Productivity or average sales value per employee in March, 2008 went up  by 9.2% to RM44,186.40, over the corresponding month last year.

Productivity in March 2008 also recorded an increase of 10.9% or  RM4,328.40 from RM39,858 recorded in February 2008. On a cumulative  basis, productivity for the first quarter increased by 14.2% to  RM127,543.10 compared with the same quarter in 2007.

Disclaimer: This information has been collected through secondary research by S. Rengasamy (Hon. Secretary General, MAICCI). Both S. Rengasamy and MAICCI are not responsible for any errors in the same.


Thank you and best regards.

“TOGETHER WE ACHIEVE EXCELLENCE”

Yours in MAICCI,