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Malaysia to grow further on consumption, investments

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Malaysia's economy is set to expand further this quarter and the rest of the year, riding on the wave of strong domestic consumption and investments, according to a study by business information firm Dun & Bradsheet Malaysia Sdn Bhd (D&B).

In its first quarterly Business Optimism Index (BOI) for the country, D&B said that despite the slowdown i the global economy, Malaysian business remained upbeat about local market conditions.

It found that positive sentiments were affirmed in all six of the survey's leading business indicators-volume of sales, net profits, selling price, inventory levels, employees and new orders.

For the second quarter, volume of sales and and net profits posted the highest net optimism levels at 50.5% and 49.6%, respectively, it said.

Hiring expectations were also off to a strong start as employment was likely to increase to 34.6%, it said, whiled selling price and inventory levels were expected to experience modest increases at 14% and 10.8% points, respectively.

According to the study, new orders for the manufacturing sector registered a net optimism of 40%, a four-fold increase from the actual optimism level in the first quarter. Of the six sectors, wholesale, services and financial sectors emerged as the three leading industry verticals from the quarterly study. Volume of sales and net profits for the whole-sale sector are expected to increase sharply to 85% and 60%, respectively.

Source: STAR 16 April 2013.

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