On the economic front, Mr Jomo said Malaysia's bank restructuring was pressing ahead through new Danaharta and Danamodal
initiatives, but that policies to tackle non-performing loans had been deferred.
7, 1998--Standard & Poor's views positively the recent announcement by Danamodal
Nasional Berhad (Danamodal
) that it will invest Malaysian ringgit (RM) 3.
Malaysia has made some headway with restructuring the banking system by setting up Danaharta, an asset management company, to help ease the mounting bad debts and Danamodal
, an agency to recapitalize the ailing banks.
Besides Danaharta, the government has also established Danamodal
, a "special purpose vehicle" to recapitalize weak but viable banking institutions.
based company has been appointed to advise the national capital fund or Danamodal
Nasional Berhad, a vehicle under the central bank recently set up to restructure and recapitalize the banking industry.