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“Surprising” stimulus package

OSK Securities research head Chris Eng tells BFM 89.9 in an interview that the RM60 billion stimulus package announced was larger than expected, and had several surprising measures.

Eng says the property and construction sectors will be the main beneficiary of the stimulus package, while the auto and plantation sectors will be smaller beneficiaries.

The banking sector, however, may be affected negatively by the package which was announced by Deputy Prime Minister and Finance Minister Datuk Seri Najib Razak in the Dewan Rakyat today.

Eng said the research house would maintain its projection of a 1% contraction in GDP for 2009.

BFM 89.9 is a 24-hour radio station focusing on business news and topics.

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