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By SURAJ RAJ
– biz.thestar.com.my

CONSUMERS could be tightening their belts as they usher in the New Year in anticipation of further hikes in toll rates, public transportation and oil prices, industry observers said.

In addition, the expected slowdown in the global economy and uncertainties in the US market may also dampen the growth of Malaysia’s export sector.

If such an environment prevails, can domestic demand, which helped push Malaysia’s gross domestic product (GDP) growth to 6.7% in the third quarter of the year (Q3′07), maintain its momentum?

Standard & Poor’s Ratings Services sovereign and international public finance ratings director Sani Hamid believes it can, as long as employment and income prospects remain stable.

?Traditionally Malaysia’s growth has been export dependent but increasingly over the years, domestic demand has also been a pillar of growth. Read more

KUALA LUMPUR (Thomson Financial) - Malaysia recorded a trade surplus of 9.24 billion ringgit in October, down 19 percent from the previous month, as growth in imports outpaced exports, the Ministry of International Trade and Industry (MITI) said Tuesday.

In September, the trade surplus was 11.47 billion ringgit.

The October surplus marks the 120th consecutive month since November 1997 that Malaysia has posted a trade surplus.

Exports accelerated to 54.91 billion ringgit in October, up 14.3 percent from a year earlier. Imports grew at a faster rate of 18.2 percent to 45.67 billion ringgit.

Total trade was 100.58 billion ringgit against 96.84 billion ringgit recorded in September.

Crude petroleum and palm oil were among the key items that contributed to the sharp rise in exports, said MITI. Read more

Malaysian exports grew at the fastest annual pace in nearly a year in October, as strong sales of palm oil and crude oil offset modest demand for electronics, government data showed on Tuesday.

Exports in October rose 14.3 percent from a year earlier, more than double the market forecast for a 6.2 percent rise and marking the quickest pace of expansion since an 18.4 percent annual growth in November 2006. Electronics, which make up about half of total exports, were just 0.4 percent higher in October than a year earlier.

Palm oil, which accounts for just under a tenth of total shipments, nearly doubled from a year ago.

Malaysia is one of the world?s largest producers of crude palm oil.

Imports, about three quarters of which are used to make exports, jumped 18.2 percent Read more

Thailand’s economic growth this year was expected to reach 4.3 per cent, the lowest in the region, but prospects for 2008 are brighter if the kingdom can overcome its political uncertainties, the World Bank said Thursday.

The World Bank predicted Thailand’s gross domestic product (GDP) would be driven in 2007 by a 14.5-per-cent increase in exports and would expand by 4.6 per cent next year.

“It is likely that Thailand’s growth this year, like last, will be the lowest among emerging East Asian countries,” the bank said in its latest Thailand economic monitoring report.

Despite a 17.5-per-cent appreciation of the Thai baht against the dollar over the past two years, Thailand’s exports would jump in 2007, primarily in high-tech sectors, such as the automotive industry and electronics, the bank said.
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Bangsa, tuhan, tao, salamat. These are just some of the shared words across Asia?s largest regional grouping, the BIMP-EAGA. In a bid to revive cultural ties of centuries back through trade, governments of Brunei, Indonesia, Malaysia and the Philippines (BIMP) entered into an economic cooperation called East Asean Growth Area (EAGA) formalized in Davao City 13 years ago.

This year, the nations are focusing on ICT (Information, Communication and Technology) to strengthen regional exchange. The first of its kind, an ICT fair was on display at the BIMP EAGA Confab held on October 23-27 alongside the Mindanao ICT Congress in the island?s trade center in Davao City.

The working theme of the 6th congress is ?Borderless ICT Collaboration on Human Resources, Infrastructure and Technology Innovation.? The event aimed to explore the possibilities of synergizing the ICT initiatives of the EAGA member nations.
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The Viet Nam International Furniture and Home Accessories Fair (VIFA) will be organised by the joint-stock company Lien Minh (HAWA Corp), a member of the association.

VIFA 2008 will be held between March 14 and 18 at Phu Tho Stadium in HCM City’s District 11.

The fair will display handicrafts and furniture, interior furnishing and accessories and equipment and tools for wood manufacturing and processing, according to Nguyen Ba Tuan, director of HAWA Corp.

Tuan said this is the second annual event held by the association. Since 2005, HAWA, in co-ordination with HCM City’s Trade Department, has held annual handicraft and wood product expositions in October.

The new annual fair in March will offer another opportunity for Vietnamese wood processing enterprises to meet prospective foreign customers. Read more

The recently concluded International Hospitality Furniture Expo 2007 (IHFEX 2007) was reaffirmed the potential of a dedicated furniture trade show targeted at the hospitality industry of the Gulf region, with active participation from leading, high-end furniture contract manufacturers from Asia and the Middle East.

Held from 3rd to 5th September at the Bahrain International Exhibition Centre, IHFEX 2007 featured 18 leading furniture makers and interior fit out specialists from Saudi Arabia, Bahrain and the United Arab Emirates. In addition, high profile contract manufacturers from Malaysia, Singapore, Hong Kong and Indonesia also showcased their latest designs during the exhibition.

According to Mr Tony Chan, Project Director, IHFEX 2007, ‘We are pleased that the inaugural IHFEX 2007 had achieved success, attracting some 300 buyers from the GCC, with exhibitors responding that the event was a small yet targeted platform for their products and services.’ Read more

All Pakistan Furniture Exporter Association (APFEA) will organise a three day ?Furniture Asia Exhibition and Conference 2007? from August 28-30 at the Karachi Expo Centre (KEC).

?The main objective of this exhibition is to showcase our products and to attract foreign investment in this sector to boost exports?, APFEA chairman, Turhan Baig Muhammad told Daily Times on Tuesday.

He said APFEA is organising this international exhibition for the first time in Pakistan.

As part of ?Build Asia 2007? nearly 50 leading companies from around the country are participating the in the event and more than 100 delegates from Italy, USA, Germany and Gulf region are invited to take part in the fair, he said. Read more

The Index International Furniture Fair, will be held from October 18 to 22 at the Bombay Exhibition Centre, Goregaon. This is the 8th edition of this benchmark event is held annually in association with KoelnMesse GmbH, organisers of IMM Cologne and INTERZUM the single most important event for the furniture industry in the country.

Index Fairs provide the ideal business platform for all types of finished furniture for home, office and commercial spaces, home lighting, bath accessories, furnishing, furniture hardware and furniture intermediates. The best of world furniture, lighting, kitchen and bath, furniture hardware and other lifestyle products will be on display.

With participation of over 50 brands from Italy showcasing the best in furniture, lighting and Read more

The early 70s spelt the beginning of a ‘new era’. The old Tourism Department of 1959 was then upgraded into the Tourism Development Corporation.

The formation of the Tourism Development Corporation (TDC) in 1972 and placing it under the purview of the Ministry of Trade and Industry (MITI) for strategic planning and focus charted a new era in the history of the tourism industry. That was the same year Malaysia Airlines was formed (1972). It was the dawn of a new beginning and both TDC and MAS were tasked to put Malaysia on the world tourist map. Since then, the Malaysian economy remains relatively robust with manufacturing and tourism taking the lead.

Today, the tourism industry has experienced a rapid growth and gained an importance in the Malaysian economy. It is the second largest foreign exchange earner, after manufacturing. This is in line with the government’s objective to accelerate the domestic private sector and stimulate the services sector to spearhead economic growth. Read more