If it weren't for this culprit, industrial production growth would be 3.3%

This segment plunged 14.3%.

According to Maybank Kim Eng, industrial production (IP) in Jan 2013 fell -0.4% YoY (revised Dec 2012: +1.3% YoY; Maybank-KE: +2.8% YoY; Consensus +5.2% YoY) on decline in Biomedical manufacturing cluster that was dragged by Pharmaceuticals.

Excluding Biomedical output, IP grew by +3.3% YoY (Dec 2012: -2.8% YoY). From the previous month, IP growth was down by -14.6% MoM (Dec 2012:+14.3% MoM) while the seasonally adjusted data was recorded at -9.2% MoM (Dec 2012: +6.6% MoM).

Here's more from Maybank Kim Eng:

The volatile performance of drug output weighed down on the overall index. The Biomedical cluster fell by -14.3% YoY (Dec 2012: +19.4% YoY) as Pharmaceutical output which accounts for 14.9% of the overall IP declined by -20.0% YoY (Dec 2012: +20.9% YoY) on lower production of active pharmaceutical ingredients.

This offset the seventh consecutive month of increase in Medical Technology (Jan 2013: +22.2% YoY; Dec 2012: +11.8% YoY) that reflected higher external demand for medical devices.

Also Read

Yangzijiang Financial to seek approval for maritime diversification at EGM

S’pore Polytechnic and Vopak collaborate to boost safe marine fuel handling

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit