Abstracts » Business, international

Matsushita stays committed

Article Abstract:

Japan's largest consumer electronics producer Matsushita, expresses high hopes for Malaysia despite the country's financial crisis. The firm pledges not to leave the country even if its sales have plunged 15% in the first half of 1998. In contrast, the firm is appropriating another 400 million ringgit for its machinery upgrading. The firm remains optimistic that Malaysia will soon recover from its economic turmoil. At the rate it is going, the firm is satisfied with the demands from the Philippines and Thailand.

Household audio and video equipment, Consumer Electronics, Audio and Video Equipment Manufacturing, Finance, Consumer electronics industry, Matsushita Electric Industrial Company Ltd.

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Currency dealer feels the pulse of change

Article Abstract:

Business enterprises and consumers in Malaysia are observing gradual improvements in the country's economic condition, as the ringgit show signs of stability. Sources reveal that consumer confidence is rising as the currency manifests strong performance in relation with the US dollar. Jafardeen Abdul Kareem, a Kuala Lumpur-based money changer, claims that more clients have visited his shop after the currency crisis caused the ringgit's value to decline by as much as 50%.

Currency Stabilization Programs, Currency stabilization, Kuala Lumpur, Malaysia (City)

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Border relations strained

Article Abstract:

Relations between Malaysia and Singapore are being strained by the currency devaluation sweeping across Malaysia. Singaporeans, finding it cheaper to do their shopping in Malaysia, are flocking to the area of Johor Baru, Malaysia for bargains. The flock of visitors are straining the capacities of the local police as well as the economy of the region. Malaysians complain that prices have skyrocketed and only residents of Johor Baru can afford to buy consumer commodities.

Intnl Economic Policy, Analysis, Singapore, Political aspects, International economic relations, International finance, Singapore foreign relations, Malaysian foreign relations

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