20100511 1200 Malaysian Economic News.

The Malaysian government will be issuing the Sukuk 1Malaysia 2010 amounting to RM3bn on 21 Jun 10, the Ministry of Finance (MoF) said. The Sukuk, which will be scripless and based on Syariah principles, will have a three-year tenure and offer a return of 5% p.a. (Bernama)

Export sales of the Malaysian American Electronics Industry (MAEI) this year is forecast to decline by 18.1% to RM57.3bn (RM70.0bn in 2009) as more companies engage contract-manufacturing services abroad. But assuming these E&E companies do not outsource their production, export sales are forecast to grow by 10.8% in 2010.

• Last year, the MAEI contributed 16.3% of exports of manufactured goods and also 30.7% of the total value of electrical and electronics (E&E) exports. (Bernama, Financial Daily)

The severe shortage of foreign workers at the more than 2,500 vegetable farms in Cameron Highlands is threatening to disrupt the nation’s vegetable supplies, which contributes about 30% of the country’s vegetable needs, said Cameron Highlands Vegetable Growers Association. (BT)

Sarawak has emerged as the top state for the second consecutive year from 2008 for investments approved by the Malaysian Industrial Development Authority (MIDA). International Trade and Industry Minister Datuk Seri Mustapa Mohamad said in 2008, Sarawak obtained RM15.2bn out of the RM62.8bn investment nationwide. (Malaysian Reserve)

Malaysia’s economic growth is on track with a 20% increase in trade with the United Arab Emirates (UAE) in the first two months of this year. Malaysian ambassador to the UAE, Datuk Yahya Abdul Jabar said that they hope this year’s exports to UAE would recover to the level of 2008. (Malaysian Reserve)