PP16832/01/2013 (031128) Malaysia Economics & Market Update 19 November 2012 th Neutral (unchanged) ETP 11 Progress Update Building Blocks For The Future Current KLCI: 1,629 (16 Nov 2012) YE KLCI target: 1,620 (unchanged) Market-neutral. We believe the 20 new high-impact projects announced by PM Najib last Friday, which have a total investment value of MYR10.08b and projected GNI contribution of MYR26.09b into Wong Chew Hann 2020, will help build a stronger economic base. Apart from this, the
[email protected] latest Economic Transformation Programme (ETP) progress update is (03) 2297 8686 market-neutral. The new projects mainly involve the participation of non-PLCs except for the MYR1.02b O&G-related Tanjung Bin venture in which MMC Corp (and, we believe, MISC) are involved. Lifts total ETP investments to MYR212m. PM Najib delivered the 11th ETP update since its Oct 2010 launch last Friday, the last update for the year. Of the 20 new projects, 11, with a total investment value of MYR6.68b, are ETP/NKEA-specific, while the rest (with an investment value of MYR3.4b) are corridor-specific, i.e. to the Sabah, Northern and Iskandar Malaysia corridors. Of the total investment value of MYR10.08b, 10%/52% are oil & gas/real estate-related. The latest announcement lifts the total number of ETP high-impact projects announced to date to 149 with MYR211.9b in total committed investments, meeting 27% of its MYR794.5b target into 2020. MYR1.02b Tanjung Bin project. The Tanjung Bin Petrochemical and Maritime Industrial Centre will be developed by privately-owned Seaport Worldwide, a 100%-owned indirect subsidiary of MMC Corp (MMC MK; Not Rated).