5% GDP growth respectable, says AmBank boss

The 5% gross domestic product (GDP) growth in 2015 is a respectable performance given the challenging environment and Malaysians should be proud of it, said Ambank group chairman Tan Sri Azman Hashim. Despite the falling global oil prices and uncertain economic situation, the results were comparatively good, he said. "Look at the world situation where everybody is slowing down. Some are even minus, including Japan. "Our 5.0% is good. Between the range of 4% to 6%, I think it's good and respectable, nothing to be ashamed of. We look forward to be able to sustain this," he said. He was speaking to reporters after the groundbreaking of Asian Institute of Chartered Bankers (AICB)'s A Centre of Excellence (ACE) in Bukit Perdana today, officiated by Bank Negara Malaysia Governor Tan Sri Dr Zeti Akhtar Aziz. Azman, who is also chairman of AICB, said this year's GDP target of 4% to 4.5% set by the government is achievable. "(Our economy) is very diversified and (revenue from) oil is only about 10%. The fall in oil prices is meaningful (to the economy) but (the impact) is not that bad. "The public are still spending a lot, the banking sector is also very liquid and still running with a lot of money, so things are moving." – Bernama, February 19, 2016.]]>