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| Author: | Ford, M. |
| Title: | Slow slow for the go-go plan |
| Journal: | Euromoney
1997 : JUN, 6, p. 209-228 |
| Index terms: | MALAYSIA ASIA MARKETS TECHNOLOGY TRANSFER |
| Language: | eng |
| Abstract: | Prime ministers plans to transform Malaysia by 2020 have sparked a boom, but recent attempts to restrain lending may have caused more of a slowdown than he had planned for. Banks were told to limit loans for property to 20% of total loans, down from 30% and loans for buying stocks were restricted to 15% of the total. The measures had an immediate effect: the Kuala Lumpur index fell 15% over two months before a slight recovery by early June. To the dismay of Malaysia's prime minister, an effort to avoid an asset bubble seems likely to create a slowdown. A falling stock market presents a unique problem for Malaysia's development because of the exchange's central role in financing a massive array of large infrastructure projects, part of "Vision 2020" programme, designed to make Malaysia a fully developed country. |
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