An uncertain global economic outlook and the continuous decline in the value of the ringgit have sent jitters through the Malaysian business community, with many companies putting on hold their expansion plans.
According to banking executives, new business-loan applications in the country, which is one of the key indicators of private-sector growth, have started to slow tremendously since the ringgit hit four to the US dollar in the middle of last month, and as prospects for the world economy dimmed further amid signs pointing to a deceleration of growth in China.
To put that into perspective, at least three bankers from different leading financial institutions in Malaysia had told StarBiz that they had not received any new business loan application in recent weeks.
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According to banking executives, new business-loan applications in the country, which is one of the key indicators of private-sector growth, have started to slow tremendously since the ringgit hit four to the US dollar in the middle of last month, and as prospects for the world economy dimmed further amid signs pointing to a deceleration of growth in China.
To put that into perspective, at least three bankers from different leading financial institutions in Malaysia had told StarBiz that they had not received any new business loan application in recent weeks.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
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