Amtel Holdings Berhad - Company Announcements - Bursa Malaysia
Amtel Holdings Berhad - Company Announcements - Bursa Malaysia
Amtel Holdings Berhad - Company Announcements - Bursa Malaysia
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16<br />
Chairman’s<br />
Statement<br />
It gives me great pleasure to present, on behalf of the Board of Directors, the Annual Report and Financial<br />
Statements of the <strong>Company</strong> and Group for the financial year ended 30 November, 2003.<br />
<strong>Amtel</strong> <strong>Holdings</strong> <strong>Berhad</strong> 2003 annual report<br />
INDUSTRY OVERVIEW<br />
The <strong>Malaysia</strong>n economy remained stable in 2003 with growth seen mainly from the<br />
services and manufacturing sectors whilst the real gross domestic product expanded by<br />
4.5% as compared with 4.2% in 2002. This improvement was a result of sustainable<br />
strong domestic demand and exports in line with improvements in the world economy<br />
and trade conditions. The domestic economy was also driven by strong economic<br />
fundamentals and supported by the Government’s adoption of expansionary fiscal and<br />
monetary policies to spur domestic consumption and business investments amidst the low<br />
inflation environment in the country.<br />
TELECOMMUNICATIONS INDUSTRY<br />
The mergers and consolidation of telecommunications companies involved in the<br />
provision of line and cellular phone services in 2003 are expected to bring about better<br />
quality and more efficient services to the market.
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