Renong calls draw warning

Article Abstract:

Investment analysts caution investors against buying into Malaysian infrastructure group Renong's shares following reports of a general offer from United Engineers Malaysia. United Engineers, a toll-road operator and builder of infrastructure projects is reported to be keen on paying for some 23% of Renong's shares that remain in public hands. Investors doubt whether the deal would go through considering that United Engineers has already borrowed heavily to finance its original purchase of Renong's 32.6% equity interest worth $650 mil.

Engineering Services, Engineering & Architectural Svcs, Engineering & Architectural Services, Construction industry, Conglomerate corporations, Securities, Renong Bhd., United Engineers (Malaysia) Bhd.

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Nation is facing a sinking outlook, economists say; GDP forecasts lowered as economy shows signs of export drop, slowing investment, rate woes

Article Abstract:

Economists have revised their forecasts on Malaysia's GDP for 1997 from 8% to between 7% and 7.6% due to export drops, slower investment inflows and continued high interest rates. There is a weakened confidence on the Malaysian economy and analysts maintain that this is due to the loss of confidence on the country's central bank. There is no doubt that the economy is slowing and the current debate is on how extensive the economic slowdown will be.

Administration of General Economic Programs, Economic Statistics & Research, Economic aspects, Reports, Forecasts and trends, Economic conditions, Gross domestic product, Economic forecasting, Economic indicators, Economists

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