USAGE OF DINAR NEEDS CAREFUL STUDY FIRST, SAYS MUHYIDDIN

MUAR (Malaysia), Dec 10 (Bernama) -- Minister of International Trade and
Industry Muhyiddin Yassin said the proposed use of gold dinar must be carefully
studied first even if it is a good alternative to the Malaysian
currency.

A study must be made covering all angles, and the views of all parties
should be taken into account as it involves the issue of international trade
where all sorts of currencies are used.

"It is a good call, but in order to implement it, we have to ensure that
there is consensual agreement from the various parties especially those involved
in the export and import activities," he said.

Muhyiddin was asked to comment on Second Finance Minister, Tan Sri Nor
Mohamed Yakcop's call recently for Malaysia to study the use of gold dinar for
international trade which had been suggested by former Prime Minister Tun Dr.
Mahathir Mohamad.

On the slowdown in global economy, he said several industries in the
manufacturing sector especially those involved in the steel industry have begun
to experience a drop in demand by as much as 30 to 60 percent.

However, it is not as bad as what has been happening in other countries
where there have been layoffs in the sector, he said.

The associations taking care of the sector have requested the banks in the
country to extend the loan payment term for their players or reschedule their
repayments to enable these players to repay their loans.

Muhyiddin also called on the Malaysian Central Bank to take initiatives to
help out the industry players.

He said his ministry will continue to monitor from time to time to
prevent
an increase in the unemployment rate following the reduction in the number of
staff by some employers in the sector.

-- BERNAMA