Thursday, October 25, 2007

Offshore Ringgit Attract Foreign Investors

Sia Ket Ee from OSK Research said that the latest statement by BNM Governor marked a significant change in stance of the central bank to prepare the market for a possible lifting of the Ringgit offshore trading ban. He believes BNM is already confident that domestic financial infrastructure is maturing, especially after the staged liberalisation and that the domestic economy could also be ready for a more volatile Ringgit trading. We view the “change in tone” favourably as it will expedite the development towards a more developed foreign exchange market, hence enhancing Malaysia’s attractiveness as a destination for investments.

Tuesday, October 23, 2007

Oil & gas prospects in NCER

Liaw Thong Jung from Aseambankers Investment Bank said that the oil & gas projects under the NCER program will be centred in 3 key areas in Kedah – ZIPY, ZIPKOP and Tanjung Dawai.

These privately-funded projects, with investment values reaching RM83b, are anchored by several key players for:
(i) oil refinery,
(ii) oil storage,
(iii) oil transportation and
(iv) offshore fabrication projects.

These high-impact onshore oil & gas projects could have positive spillover effects on service providers in the oil & gas industries. The construction sector could also benefit from infrastructure works.