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Article Abstract:

Malaysia is aware that part of its significant current-account deficit of 18.8 billion ringgit for 1995 is attributable to the relatively small contributions of the service sector. While industry remains a priority, Malaysia is working to promote sports tourism, private colleges, shipping and insurance. Malaysia is attracting international sporting events, including the 1998 Commonwealth Games. The twinning program introduced at private colleges is designed to reduce the number of Malays going abroad for their education by providing one year of foreign study.

HOTELS AND OTHER LODGING PLACES, Tourist Travel, Travel industry, Education, Higher, Higher education, Services industry, Service industries, Tourism

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Big, strong and friendly

Article Abstract:

The banking industry in Malaysia posted record profits in 1995, lead by Malayan Banking, which had pre-tax profits of 1.5 billion ringgit. Bank profits have increased due to economic growth and relaxation of profit margin controls by Malaysia's central bank. The World Trade Organization encouraged this relaxation so that local banks could be prepared to compete with foreign banks if restrictions on foreign banks are lifted. While entry of foreign banks is not considered imminent, some banks are developing ties with offshore banks.

Commercial Banks, Commercial Banking, Banking industry, Statistics, Deregulation

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Wealth is spreading

Article Abstract:

Sustained economic growth in Malaysia has resulted in the expansion of the middle class as many Malaysians can now afford to purchase cars, apartments and consumer goods. The price of housing has risen sharply, however, and most families cannot afford housing with land attached. Because the national car Proton is in short supply, the price has risen sharply as well. Some say that economic growth will slow in Malaysia, but aggregate domestic demand is still expected to grow by 7-8% in 1996.

Residential Buildings, Residential Building Construction, Residential construction, Housing, Consumer confidence, Economic indicators

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