Tide of red ink: Malaysian central-bank losses centred on London

Article Abstract:

Bank Negara, Malaysia's central bank, lost $4.7 billion on the London foreign-exchange market in 1992. Bank Negara had purchased large numbers of US dollars earlier in 1992 to stop the rise of Malaysia's currency, the ringgit, and had then exchanged the dollars for sterling on the London market. Unfortunately, the UK's withdrawal from the European Exchange Rate Mechanism in Sep 1992 caused the sterling's value to fall drastically, which accounted for 80% of Bank Negara's huge loss.

Economic aspects, Finance, Central banks, Foreign exchange market, Bank Negara Malaysia

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Trading up: Malaysian component maker Belton goes hi tech

Article Abstract:

Automobile parts manufacturer Kumpulan Belton is increasing its capital, retraining workers and purchasing modern equipment in order to meet the demandsof its growing clientele. The company has established a reputation for the quality of its products and counts among the few Malaysian companies that have met the ISO 9002 standards. Belton, which already supplies major auto parts distributors in Japan, will be embarking on a carmaking joint venture with Daihatsu Motor in 1994.

Motor vehicle parts and accessories, Management, Automobile equipment and supplies industry, Automotive parts industry, Company Profile, Kumpulan Belton

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