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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: tom who wrote (6217)	9/7/1998 10:19:00 AM
From: Stitch	Read Replies (1) \| Respond to of 9980

Thread, IDIOCY! to wit the following: Malaysia's Ctrl Bk Cuts Reserve Requirement To 4% Vs 6% Dow Jones Newswires KUALA LUMPUR -- Malaysia's central bank Monday said it was cutting the amount of money banking institutions have to deposit with it to 4% of eligible liabilities from 6%. The cut is effective Sept. 16. In a statement, Bank Negara Malaysia said: "The measure aims to further reduce the cost of funds to banking institutions and improve the distribution of liquidity among individual banking institutions, thereby enhancing the lending capacity of the banking institutions." Malaysia's Maybank Cuts Base Lending Rate To 9.05% Vs 10.3% Dow Jones Newswires KUALA LUMPUR -- Malaysia's leading commercial bank, Malayan Banking Bhd (P.MBB) Monday cut its base lending rate to 9.05% from 10.3%, effective Tuesday. The move was in response to the central bank's latest move to reduce to 8% from 9% the rate at which it lends to the money market. That effectively determines the way commercial banks calculate the rate at which they lend to their best customers. Malaysia Bk Negara Relaxes Lending Curbs To Property Sector Dow Jones Newswires KUALA LUMPUR -- Malaysia's central bank Monday relaxed lending curbs to the troubled property and construction sectors, and urged commercial banks to put top priority on lending to these industries. In a statement, Bank Negara Malaysia said "banking institutions are urged to accord priority in lending for the construction or purchase of residential properties. Lending for the construction or purchase of residential properties costing 250,000 ringgit (MYR) ($1=MYR3.80) and below will now be exempted from the 20% limit on lending to the broad property sector." Malaysian Minister Warns Press To Cover Games Only Dow Jones Newswires KUALA LUMPUR, Malaysia (AP)--The foreign media were warned Monday not to cloud their coverage of the Commonwealth Games with details of the country's political upheaval. Hundreds of journalists are arriving to cover the 16th Commonwealth Games, which officially begin Friday. But they likely also will focus on ousted Deputy Prime Minister Anwar Ibrahim, who is also the former finance minister. Anwar was sacked last week on allegations of sexual misconduct and leaking state secrets. Minister of Information Mohamed Rahmat said he was not pleased by the reports of some foreign media. "Their reports are politically inclined and aimed solely at toppling the government leadership," the national news agency Bernama reported Mohamed as saying. "They had big ambitions to topple the Prime Minister Mahathir Mohamad and bring up the Deputy Prime Minister Anwar Ibrahim. Actually they have failed," he said. The minister also warned local and foreign journalists to wear the press accreditation cards issued by the Information Department when covering official events. Mohamed complained that some foreign journalists were not wearing them when covering official functions. What he declined to mention was that it can take up to a year to get a press card issued by his ministry.