Kuala Lumpur committed to reforms, top official says: Finance chief Datuk Seri Anwar insists troubled corporations won't get government bailouts

Article Abstract:

Malaysia's Deputy Prime Minister Datuk Seri Anwar Ibrahim maintained the government would not provide state bailouts to ailing firms in keeping with needed reforms. Though the country has been regarded as among the healthiest countries hit by currency devaluations since July 1997, the recent merger and acquisition trend among some influential and troubled firms have led to concerns that some firms would not be allowed to collapse. The government places banks' nonperforming loans at 5% of assets, but numerous analysts foresee that figure to increase close to 20% by the end of 1998.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Business Regulation NEC, Political aspects, Malaysia, Commercial law, Ibrahim, Datuk Seri Anwar

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Ignoring promise of reform

Article Abstract:

Foreign investors in Japan are now pessimistic about the promised economic reforms of the government. The Nikkei Stock Average closed at 15210.04 on June 19, 1998 after Finance Minister Hikaru Matsunaga promised on June 17, 1998 to change the country's financial system. Foreign investors are now taking a wait-and-see attitude until the country's economy has recovered and the government has instituted decisive measures.

Foreign investments, Economic aspects, Japan

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