ID :
15887
Thu, 08/14/2008 - 20:31
Auther :
Shortlink :
http://m.oananews.org//node/15887
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MALAYSIA'S TRADE UP 12.2 PCT FOR 1H 2008 ON STRONG EXPORTS
KOTA KINABALU (Malaysia), Aug 14 (Bernama) -- Malaysia's total trade has increased by 12.2 percent to RM586.2 billion for the first six months of 2008, compared with the same period last year, said Minister of International Trade and Industry (Miti) Muhyiddin Yassin.
The increase was attributed to the strong growth in exports to Aseancountries, China, Japan, West Asia, India and Australia.
"Exports during this period grew by 15.5 percent to RM326.9 billion, while imports increased by 8.3 percent to RM259.3 billion. Trade surplus for this period was RM67.6 billion," Muhyiddin said in his keynote address at the Sabah Investment and Trade Dialogue and Seminar on the Manufacturing and ServicesSectors here, Thursday.
Sabah, which recorded a 61.5 percent increase in trade to RM26.5 billion for the January to June 2008 period, contributed 4.5 percent to Malaysia's totaltrade, said Muhyiddin.
"Sabah exports for the period grew by 77.4 percent to RM20.5 billion, whileimports rose by 23.9 percent to RM6.04 billion," he added.
On another note, Muhyiddin said the government has reviewed some of the financial assistance facilities for Small and Medium Enterprises (SMEs) tomitigate the impact of the increase in fuel prices.
Among them, for grants approved after June 1, 2008, a 10 percent upfront payment will be given, while payment for machinery and equipment will be madedirectly to the supplier.
"Interest rate for soft loans has been reduced from four percent to two percent per annum and the margin for financing has been increased from 85percent to 90 percent," he added.
Muhyiddin said that as at June 30, 2008, various grants valued at RM449.9 million and soft loans amounting to RM652 million had been approved, where forSabah, grants and soft loans totalling RM43 million have been approved.
The increase was attributed to the strong growth in exports to Aseancountries, China, Japan, West Asia, India and Australia.
"Exports during this period grew by 15.5 percent to RM326.9 billion, while imports increased by 8.3 percent to RM259.3 billion. Trade surplus for this period was RM67.6 billion," Muhyiddin said in his keynote address at the Sabah Investment and Trade Dialogue and Seminar on the Manufacturing and ServicesSectors here, Thursday.
Sabah, which recorded a 61.5 percent increase in trade to RM26.5 billion for the January to June 2008 period, contributed 4.5 percent to Malaysia's totaltrade, said Muhyiddin.
"Sabah exports for the period grew by 77.4 percent to RM20.5 billion, whileimports rose by 23.9 percent to RM6.04 billion," he added.
On another note, Muhyiddin said the government has reviewed some of the financial assistance facilities for Small and Medium Enterprises (SMEs) tomitigate the impact of the increase in fuel prices.
Among them, for grants approved after June 1, 2008, a 10 percent upfront payment will be given, while payment for machinery and equipment will be madedirectly to the supplier.
"Interest rate for soft loans has been reduced from four percent to two percent per annum and the margin for financing has been increased from 85percent to 90 percent," he added.
Muhyiddin said that as at June 30, 2008, various grants valued at RM449.9 million and soft loans amounting to RM652 million had been approved, where forSabah, grants and soft loans totalling RM43 million have been approved.
