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Malaysia: prices drop as construction sectors weaken
Asia Observatory

08 October 2008

Malaysia: prices drop as construction sectors weaken

Prices of Malaysian timber products declined as the various construction and housing sectors in the US and Europe continued to weaken. The strength of the US dollar against other major currencies also led to the lowering of Malaysian timber prices.
Timber businesses are optimistic that demand in Eastern Europe and the Middle-East markets will help to cushion the fall in prices. Prices of wooden furniture and plywood are expected to see marginal declines. A cooling trend in China’s real estate market is expected to spill into early 2009.