RINGGIT STILL AT A MANAGEABLE LEVEL

KUALA LUMPUR, Sept 10 (Bernama) -- The recent depreciation of the ringgit is still at a manageable level, said Deputy Finance Minister Ahmad Husni Hanadzlah.

"The depreciation is still within the margin of 3.40 to one US dollar
and this is not a problem to the country," he told reporters after officiating the Third Session of the World Chinese Entrepreneur Forum 2008, here today.

He was commenting on the recent decline of the local unit.

The ringgit was under selling pressure last Friday, trading down at
3.46 to the US dollar compared with the 3.39 recorded the week
before.

"The depreciation is not much. The movement also depends on the demand
and supply situation," he said.

"Unless, there is a drastic drop or increase, then it will have an impact
on industry," he added.

Earlier in his speech, Ahmad Husni said that Malaysia continued to register
strong growth despite the global inflationary pressure due to rising oil and
food prices.

"Malaysia's economic progress did not just happen. It was achieved through
careful long, medium and short-term planning to ensure resilience and
development," he said, adding that the country had set the direction of future
growth till 2025.

Malaysia's gross domestic product(GDP) growth was 7.1 percent in the
first quarter this year and 6.3 percent in the second.This brought the
first half of the year's growth to 6.7 percent.
--BERNAMA