Investment in Malaysia plunges.

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* Kuala Lumpur -- Manufacturing investment in Malaysia plunged to a five-year low in 1998 as Japanese companies such as Sony Corp slowed new ventures. Proposed foreign investment in manufacturing -- a sector that makes up about a third of gross domestic product -- fell 12 per cent in 1998 to 12.65 billion ringgit (US$3.3 billion), while domestic investment sank 68 per cent to 6.32 billion ringgit. The total was the lowest since 1993. The problems in Malaysia are mirrored across the region, as companies scrapped new plants or scaled back expansion plans as much of the region tumbled into recession last year. There's little hope of reversing the trend until Japan emerges from its worst recession in 50 years. --...