11. Consumer electronics seen growing 5% to 7%

SHAH ALAM: Malaysia’s consumer electronics industry is expected to grow 5% to 7% this year in line with the gross domestic product growth. This is despite rising raw material costs and weaker consumer spending power amid higher inflation rate in the second half. Panasonic Manufacturing Malaysia Bhd has recorded more than 10% rise in sales from April to Aug 18 against the corresponding period last year. Panasonic dominates the small home appliance market in Malaysia with more than a 40% market share in air-conditioners, 30% in dishwashers, and more than 50% for rice-cookers, fans and clothes irons. Tony Endoh, managing director of Panasonic Malaysia Sdn Bhd (Panasonic’s marketing arm in Malaysia), said despite rising commodity prices and inflation in the region, 2008 had been a year of “events-driven” sales. The current... [read full story]