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THE WORLD#8217;S fragile economies may be tested to the hilt and could be faced with greater uncertainty even if the US-led forces achieve a quick victory in Iraq, economists said yesterday. A prolonged war, meanwhile, #8220;guarantees recession#8221;.
MAJOR local commodities like crude palm oil (CPO), rubber and timber will not be significantly affected by the US-led war on Iraq, except for rising concerns over the higher freight cost and insurance charges to countries near to the battle zone, industry players said.
AIRASIA Sdn Bhd chief financial officer Raja Mohd Azmi Raja Razali said the war would cause a surge in price of aviation fuel (at the initial stage of the war), which would increase the airline's operational cost but this should slowly come down to a more acceptable price once the war is over.
IN the short-term, the Iraqi war will cause a drop in the volume of travellers from Europe, the US and possibly the Middle East to Malaysia, but regional arrivals within South-East Asia and North-East Asia will not be severely impacted, said Reliance Shipping and Travel Agency Sdn Bhd executive director Tan Sin Chong.
THE Port of Tanjung Pelepas (PTP) has projected a 30% increase in throughput this year despite the global economic uncertainties brought about by the US-led war against Iraq yesterday.
WITH the start of the Iraqi conflict, the point has been raised in some business circles whether this would lead eventually to a diversion of Middle East investments to this country, since Malaysia is deemed to have many advantages and seen as a friendly Islamic nation.