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Prudential Assurance Malaysia Bhd (Prudential Malaysia) has attributed its double-digit growth in new business premiums i

The insurer registered a 33% growth in new business premiums to RM181mil for the third quarter ended September 2008 compared with the previous corresponding period.

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Mier revises GDP growth upwards to 5.3%

KUALA LUMPUR: The Malaysian Institute of Economic Research (Mier) has revised upwards Malaysia’s gross domestic product (GDP) growth in 2008 to 5.3% from 4.6% previously due to higher-than-expected growth in the first half of the year.

But the independent research house forecast a lower GDP of 3.4% for 2009 due to the poor global economic outlook, and predicted that a recession might hit the country by the second or third quarter next year.

“The situation that we are facing now is more serious than it appears,” Mier executive director Professor Datuk Mohamed Ariff Abdul Kareem said, referring to the situation in the US.

Commerce Malaysia Highlights

AmBank invests RM30m in self-service machines

AmBank (M) Bhd has teamed up with Wincor Nixdorf (M) Sdn Bhd to expand the bank’s self-service machines throughout the country involving total investment of RM30mil.

Government looking at ways to lower fertiliser prices

The Government will look into ways to lower fertiliser prices next year for the plantation sector by providing “backing” to fertiliser suppliers, said Plantation Industries and Commodities Minister Datuk Peter Chin Fah Kui.

Study to help exploit Sabah’s gas and oil

A study involving Government and Petronas officials is underway to determine the downstream industries suitable to exploit the state’s gas and oil resources, said Chief Minister Datuk Musa Aman.