Defence Services Asia: Malaysia lacking immediate procurement projects
Although the growth of Southeast Asian economies offer great opportunities to defence companies, no new major procurement programmes are expected for Malaysia in the short-term.
A number of programmes are expected to be postponed until the 11th Malaysia Plan covering government spending for 2016-2020 as the government addresses an increasing public deficit, said John Siddhart, senior aerospace and defence analyst of MarketsandMarkets.
According to government statistics, the defence budget for 2014 is set at RRM16.1 billion ($5 billion) representing a RM900 million increase from the previous year.
‘The key procurement during the 2014 budget includes six Second Generation Patrol Vessel-Littoral
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