from Business Times
However, he added that growth momentum in Asia, including Malaysia, would be supported by resilient domestic demand. When commenting on Public Bank's overseas investments, Teh said the bank had hedged its foreign currency exposure. "We are not expected to be susceptible to foreign exchange fluctuations." On home loans, Teh assured investors that the introduction of new preemptive regulatory measures, including the loan-to-value ratio cap on financing of the third residential property and guidelines on responsible financing, were unlikely to impact its growth in the domestic retail operations as its existing stringent lending practices had already incorporated such measures. Public Bank's domestic hire purchase segment is dependent on the growth of the automotive industry in Malaysia. In 2012, the automotive industry is expected to experience minimal to flat growth in vehicle sales. However, Teh said the bank was hopeful of moderate growth and maintaining its lead market share position in the passenger vehicle financing business.