Tuesday, July 18, 2006

DOWJONES Predictions in ABDULLAH NEW 9MP projects; BROAD SPECTRUM, NONE for Johor, PENANG Bridge; MAIN Beneficiaries UEM World and UEM Builders

As our PM Datuk Seri Abdullah is annoucing the details of the goodies in the 9MP, a great deal of information is possibly already privy to selected influential leading providers of independent investment research and MorningStar (Dowjones) is no exception.

They have predicted announcements covered a broad spectrum, no projects for southern Johor state, and UEM World and UEM Builders would be the main beneficiaries. Or these are just common sense guess? Check these out with actual ones coming out today.

Perhaps they have missed out the role role of Petronas, see their Masterplan for the eastern corridor below.

the following Dowjones news is available from here

Malaysia PM To Announce New Devt Projects Tuesday -Spokesman
07-17-06 05:07 AM EST

KUALA LUMPUR -(Dow Jones)- Malaysian Prime Minister Abdullah Ahmad Badawi will announce Tuesday millions of dollars of development projects open for tender aimed at helping Malaysia become a developed economy by 2020, a government spokesman said Monday.

In addition to boosting the economy, the move could also allay concerns that Abdullah isn't paying enough attention to the economy, analysts say.

Unveiled in March, Abdullah's MYR220 billion five-year development plan focuses on improving infrastructure, developing poorer states and finding new sources of growth so the economy can expand an average 6% annually between 2006 and 2010.

"The projects to be announced tomorrow cover a broad spectrum," said the spokesman, who declined to be named or to provide specific details.

He dismissed market talk, however, that the announcement will include projects to develop southern Johor state, which neighbors Singapore, saying those projects will be unveiled later.

The move follows concerns that Malaysia's gross domestic product will miss the government's 6% growth forecast for this year, as overseas demand for goods and services has been slow.

It also follows stinging attacks on the government by former Prime Minister Mahathir Mohamad that have raised fears Abdullah - who is also the finance minister - is too preoccupied with politics to pay enough attention to the economy.

Abdullah's blueprint is short on the grandiose projects that have been the hallmark of previous such plans. Instead, it focuses on improving existing infrastructure, waterways and sewage systems.

It also adds new highways and bridges in congested urban centers such as Penang, where most of the country's key electronics and electrical manufacturing is located. It places stronger emphasis on developing commercial-scale agriculture to turn Malaysia into an agricultural exporter from being a net importer.

Shares of government-linked UEM World (1775.KU) and UEM Builders have risen sharply in anticipation that the two companies will gain from further government spending.

-By Hasan Jafri, Dow Jones Newswires; 603-2692-5254;
hasan.jafri@dowjones.com ;-Edited by Paul Baylis

and from Bernama

Petronas Drawing Up Masterplan For Eastern Corridor; July 17, 2006 19:33 PM

KUALA TERENGGANU, July 17 (Bernama) -- Petronas, which has been given the task of developing the Eastern Corridor covering Kelantan, Terengganu, Pahang and Northern Johor, is drawing up a masterplan for the region.

The projects to be implemented by Petronas in the corridor are separate from those approved under the Ninth Malaysia Plan (9MP), said Minister in the Prime Minister's Department Datuk Seri Effendi Norwawi. He said this to reporters after giving a briefing on the 9MP projects for Terengganu to Menteri Besar Datuk Seri Idris Jusoh, state executive councillors and senior government officials Monday.

It was the fifth briefing in a series he is giving to state governments which he expects to complete by the end of next month.

Effendi said Terengganu could achieve a growth rate of eight per cent annually during the 9MP period if all projects were implemented successfully.

Terengganu has been allocated RM7.4 billion under the 9MP.

see latest posting on 9MP announced Projects, Reports & Comments from Blomberg, Malaysian Business News


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