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Annual Report 2010
A more positive environment emerged in 2010 as global economic recovery continued after exiting from the most drastic post-war economic contraction in the second half of 2009. Global growth was led by the emerging economies which contributed more than two thirds of the growth in 2010. In spite of the advanced economies continuing to face crisis-induced and structural issues during the year, the emerging economies especially in Asia experienced strong growth. This growth was driven by robust domestic demand and rapid expansion in intra-regional trade..
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Annual Report 2009
During the first quarter of 2009, the world economy continued to experience the deepest slowdown in recent history as a result of the unprecedented collapse of global financial markets in 2008. The world economic environment subsequently stabilised and confidence grew over various regions in the second half of 2009 after numerous bold measures were undertaken by the respective governments. This global recovery, however, proceeded at varying speeds in the numerous economies, reflecting different initial conditions, external shocks and policy responses. |
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Annual Report 2008
The year 2008 saw the world economy facing the most unprecedented financial shock and the worst meltdown of the global fi nancial markets since the Great Depression of the 1930s. The year under review also saw the global output and trade plunge in the fi nal months as the strained fi nancial sector started to pull down the real economy. This unfavourable external condition was also evident in the export performances of a number of the major regional countries.
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Annual Report 2007
During the year in review, the Malaysian economy emerged more resilient with growth in real gross domestic product expanding to 6.3% from 5.9% in 2006. The strong growth momentum was driven by robust domestic demand despite a challenging external environment as a result of global economic volatility largely due to the fallout from the US sub-prime crisis.
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Annual Report 2006
During the year in review, the Malaysian economy was stronger and more
resilient despite challenging environment encompassing persistently high crude
oil prices, rising global interest rates and increased competition from emerging
regional economies. Pragmatic macroeconomic policies coupled with strong
fundamentals and robust domestic activity particularly in the private sector, has
continued to propel economic expansion amidst high export demand for
electronics and primary commodities. This resulted in an overall growth in real
Gross Domestic Product of 5.9%.
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Annual Report 2005
The year 2005 was another challenging one for the Malaysian economy. During the course of the year, the global economy faced moderate growth, revival in inflationary pressure fuelled by higher crude petroleum prices as well as rising trends in interest rates. Notwithstanding these developments, Malaysia continued to experience positive growth in 2005 with an overall growth in real Gross Domestic Product (GDP) of 5.3%.
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Annual Report 2004
For the year 2004, Tradewinds Corporation Berhad turned around from a loss to record a net profit of RM56.4 million. Notably, the Group's debt was significantly restructured with the reorganisation of the hotel businesses. The Group divested some non-core assets in line with its objective to streamline its businesses. In February 2005, the acquisitions of property development land to diversify earnings and improve cash flow were completed.
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Annual Report
2003
Year 2003 saw PIHB continuing its restructuring exercise
to revitalize the Group. This include a debt reduction
programme which involved divestment of assets, strengthening
of the Group’s cash flow via the injection of
land as well as the streamlining of the businesses within
the Group.
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Annual Report 2002
The year 2002 continued to be a difficult year for Pernas as we carried on to restructure our operations and streamline our core businesses. This is not helped by the macro environment where the economy and business climate are adversely affected by several global events.
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Annual Report 2001
The year 2001 was very eventful for Pernas as we started streamlining our core businesses and commenced the restructuring of our operations. Our task was not made easier by the September 11, 2001 incident and its repercussions which shook the travel and hospitality industry worldwide. Strategies were implemented to mitigate difficulties encountered which I am confident will be greatly beneficial to Pernas in the near future.
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