US firms see 9% growth

DESPITE the recovery of the global semiconductor industry, American electronic firms in Malaysia have forecast slower export sales growth of 9% in 2004 compared with 14% this year. However, they are expected to invest some RM1.5bil next year – same as this year – possibly indicating that a four-year down trend in new capital investments into the industry could be bottoming out.  

The 19-member Malaysian American Electronic Industry (MAEI) grouping said the forecast sales of RM64.2bil in 2004 would surpass the RM59bil set for this year by 8.8%. However, this growth would fall short of the 14% year-on-year increase achieved over 2002 sales of RM51.3bil.