Malaysia IT Spending prospect 2006 - v5

With our earlier discussion of ...

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Malaysia's economy looks set to take an exicted boom.

The ringgit once again recorded many years high of reaching RM 3.55 against the USD yesterday.

Let me stress again, this is good for the ICT sector because of the following:

1. Malaysian are richer by certain margins. (rise of interest rates and ringgit)
2. 9th Malaysian plan has put us into some proper direction. It marks the end of old projects making way for new ones to come. Definitely, you won't look like an idiot to take about it at least until the end of the year.
3. The world congress (WCIT) to be held in Malaysia by 2008 will be a catalyst for innovations and activities.

Gold price breaks USD 700 per ounce is also a good indication that people's wealth would be increased by certain margin. I based this on the fact that now is not a good time to spend money, however it may be a good time for to keep the money with your financier hoping for more windfall. Therefore, this would cater for a stronger financial projections for year end and early of year 2007. In other words, instead of spending money on neccesity; now companies may be focusing on improving financial strenght and therefore long-term investments such as implementing strategic ICT solutions and systems. Because all of those are based on ROI calculations.

On the other development, theStar Online seemed to have invested a hugh amount of money towards a report from IDC about IT spending to dip. It(the news) has been around for the past 5 days or more; at least I am sure that it has been there since May 6, 2006. Looks like either there is nothing more to report on the technology side or they are simply waiting to achieve the ROI for investing in the report before taking it off for something else.

Indeed, ROI is something everything looking foward to now.