KOTA BAHARU, Dec 14 (Bernama) — The government is conducting a comprehensive study on the ringgit’s depreciation, says International Trade and Industry Datuk Seri Mustapa Mohamed. He said the study was jointly undertaken by his ministry, Bank Negara Malaysia, Ministry of Finance (MOF) and the Economic Planning Unit (EPU) of the Prime Minister’s Department to ascertain the impact of the falling ringgit on the economy. “We have experts in the government, Bank Negara Malaysia, MOF and EPU who are carrying out studies to determine if the depreciating ringgit is good or bad and if it has a positive effect on the economy,” he told reporters after presenting prizes and BMW cars to winners of a contest organised by Bank Islam Malaysia here, Sunday. Mustapa said as a trading nation, the depreciation of the ringgit would definitely have an effect and it was necessary for the study to determine its impact on imports, exports, inflation, manpower and others. “Ups and down in...

DAVOS (Switzerland), Jan 21 (Bernama) — The opposition claim that the Malaysian economy is in crisis is absurd and irresponsible, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed. He said the baseless accusation made by the opposition, which compared the country’s current economic situation to the likes of the 1997/1998 economic financial crisis, was not based on facts and indepth research. “In actual fact, in matters concerning core issues such as the nation’s economy, racial ties and religion, we must think as one. “In this aspect, it is clear that the opposition is attempting to shake the confidence of people and the international community of Malaysia’s economic prospects. “This is an irresponsible action,” he told Malaysian reporters on the sidelines of the World Economic Forum which began here on Tuesday. Describing the current economic situation as challenging, Mustapa said the situation today was far different from what occurred...

KUALA LUMPUR: Approved investments climbed for the fourth consecutive year in 2014, rising to a new high of RM235.9bil compared with RM219.4bil recorded in 2013, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.

Domestic investments accounted for 72.6% of the total while new investments in the manufacturing sector rose 38% to RM71.9bil.

The approved projects last year would create 178,360 new jobs, Mustapa said.

He said the Government was setting a modest target of RM56bil for approved projects in the manufacturing sector amid a more challenging global economic outlook.

“We are planning to introduce tax and location incentives for principal hub companies,” Mustapa said at an economic event organised by the Performance Management and Delivery Unit (Pemandu) yesterday. The Government, he said, would include customised incentives to attract more foreign investors.

The economy expanded 6% in 2014, boosted by steady growth in the construction and...