MALAYSIA TO RIDE OUT STORM, SAYS DEPUTY MITI MINISTER

KUALA LUMPUR, May 8 (Bernama) -- Many structural defects and ideological
flaws in the global economic system led by the United States will continue to
play out for a long time, Deputy International Trade and Industry Minister
Mukhriz Tun Mahathir said Thursday.

Mukhriz said despite predictions that the attractive emerging market stocks
may break out into a bull market by year-end, this remained to be seen due to
continuous concerns over the current economic situation.

"It is under these circumstances that Malaysia will continue to ride out the
storm in its own novel and creative way," he said in his keynote address at the
opening of Metaltech and MTA Malaysia 2009 here.

The event, which started Wednesday and will be on till May 10 at the Putra
World Trade Centre, showcases the latest precision engineering and manufacturing
machines.

Mukhriz said the Malaysian economy is forecast to expand by between negative
one (-1) to one percent this year in comparison to 4.6 percent last year.

"We have instituted effective strategic measures, partly based on the
results of our continuous consultations with industry stakeholders to cushion
the impact on businesses against the economic lag," he said.

The measures included making the necessary adjustments or corrections to the
country's macroeconomic policy, adopting a proactive fiscal policy and a
measured monetary policy, Mukhriz said.

The government has also introduced a number of measures to stimulate and
fortify the manufacturing and services sector, he added.

-- BERNAMA