(TheEdgeMalaysia)KUALA LUMPUR: The government has announced the Economic Transformation Programme (ETP) to realise Malaysia’s ambition to turn the country into a high-income economy by 2020.
Minister in the Prime Minister’s Department, Senator Datuk Seri Idris Jala told a hall packed with some 3,000-odd corporate figures and business leaders yesterday that the ETP will help Malaysia triple its Gross National Income (GNI) from RM660 billion (2009) to RM1.7 trillion in 2020.
This translates to an increase of GNI per capita income from RM20,770 (US$6,700) to at least RM46,500 (US$15,000), meeting the World Bank’s high-income benchmark. To help achieve this, the government aims to sustain 6% GNI growth between 2011 and 2020.
If we all read research notes distributed by our brokers, all of them will tell us that construction sector is a natural winner of ETP programs. Without me going into stocks specific because there are all there but I want to highlight this chart to you. Yes we are seeing the breakout. We saw a huge spike of volume yesteday but the buying momentum was fading. It's a clasic buy the rumor, sell the news?