Ping Chew Quotations

Further liberalization of the economy and infrastructure improvements will help India's trend growth. Such reforms coupled with continued fiscal consolidation will help India achieve investment grade over time.

There is always this worry that such a spending plan will widen the budget deficit. If India misses the deficit target again, it could dilute its commitment to fiscal consolidation. Giving dole doesn't resolve poverty.

Underlying growth is still okay at around 4%-5%, but what is important is that inflation does fall in the next two to three months.

The 'A-' rating on the proposed notes reflects the direct, irrevocable, and unconditional guarantee by the government of Malaysia.

Most banking systems in the Asia-Pacific region have improved their credit profiles, thanks to stable economic conditions and continuing structural improvements. This is in spite of rising oil prices and interest rates threatening the broader economic recovery.

The ratings reflect Taiwan's strong external position and robust economy in a challenging policy environment in which fiscal flexibility has weakened.

The ratings on Taiwan could be lowered if further fiscal slippages cause the debt burden to rise markedly.

The question is not whether the government can consolidate. The question is shouldn't the government consolidate faster?

This report brings together our latest thinking on the key developments and credit outlooks of the major financial services sectors in Taiwan. This report also addresses the rating implications of the emergence of financial holding company (FHC) groups since late 2001.

This will definitely add to pressure, especially from lawmakers in the U.S. for further appreciation of the yuan.

The pass-through impact of the global oil prices is just one of the factors from the long-term perspective.

The government has to decide what their role is. Are they going to be shareholders of the banks or are they going to be regulators? It is quite difficult to be both.

Once we detect a trend...we can evaluate that and act on that. If something is uncertain, that's the most difficult thing.

A rating upgrade can be considered only if the debt burden keeps reducing, not just through revenue growth, but also through expenditure improvement.

The budget should put the country's deficit reduction effort back on track.

Already, the market consensus is for inflation to fall. We are expecting that too.

It's probably one of the necessary conditions. If you don't have inflation falling, it's unlikely that authorities could lower the interest rate.

India has the poorest financial position but it has the ability to consolidate and be investment grade.

If the reforms become entrenched and future bad loans are reduced, then there are chances of the government's ratings being upgraded.

If you look at what most other money going into China is earning, it is not that inefficient. If you don't invest in U.S. bonds, what do you invest in?

Generally, (Indonesia) is still gradually improving. When we had the positive outlook, we thought it was improving faster.

The fiscal position has to improve not just from the revenue front but also the expenditure side. At present, India's expenditure remains rigid, with spending on interest, salaries and pension limiting ability to spend on other critical areas.