Malaysia IT spending prospect 2006 - v3

Just a few days ago, we were predicting the IT spending prospect for Malaysia in year 2006 where...

Version 2
Version 1

that the following three catalysts would trigger tremendous growth for the ICT industry by 2006. There catalysts are:

1. 9th Malaysian Plan
2. Hike of interest by 0.5%
3. Ringgit gained strength over the US dollar.

Nevertheless, IDC predicted that ICT spending would contract and with growth of only 11% for 2006 and hopefully it would maintain the same for 2007 (depending on global forces). The value for total ICT spending by 2006 is predicted at RM 14.76 billion.

Reasons given were that despite the announcement of 9th Malaysian Plan:
1. Many huge government projects have already been completed by 2005.
2. Spending behaviours shifted to mobile personal systems.

In retrospect, IDC predicted the following as the biggest potential IT consumers for 2006:
1. Banking
2. Communications
3. Media
4. Discrete Manufacturing
5. Government sectors

We share monitor and see what would happen next.