AMMB Holdings less sanguine on growth

KUALA LUMPUR: AMMB Holdings Bhd sees a potential significant impact from the headwinds in the global economy affecting the Malaysian economy in the short term and is expecting a “tougher second half” ahead, said its deputy group managing director and chief financial officer Ashok Ramamurthy.

“We are cautious on our short-term outlook. We know these global events will find its way onto Malaysian shores, this time around there is no doubt about that based on historical experiences. Typically there is a bit of an effect from that, might be six or nine months before it finds its way into Malaysia,” Ramamurthy said at a briefing yesterday on the bank's first-half financial results for the period ended Sept 30, 2011.