Malaysia posts 3.3% GDP growth in 3Q

Malaysia’s economy expanded 3.3% in the third quarter of 2023 from a year earlier as resilient domestic demand offset continued export weakness. The gross domestic product (GDP) growth beat the 3% median average forecast of a Reuters survey of economists and was better than the 2.9% growth recorded in the previous quarter. On a quarter-on-quarter […]

Malaysia announces new taxes, cuts subsidies in tighter 2024 spending plan

Malaysia said on Friday it would introduce a capital gains tax and a tax on high-value goods and gradually cut subsidies to bolster its fiscal position, as an economic slowdown puts a strain on government spending. Prime Minister Anwar Ibrahim is under pressure to revive Malaysia’s export-driven economy amid moderating growth, a weakening local currency […]

Economy to improve in 2024

THE Malaysian economy is expected to strengthen in 2024, growing in the range of 4% to 5% amid expansion in all sectors and better prospects in global trade. In its Economic Outlook 2024 report, the Finance Ministry said that world trade is likely to improve next year in tandem with stronger trade activities. This in […]

NIMP 2030 can propel Malaysa to next level of development

The New Industrial Master Plan (NIMP) 2030 has the potential to propel Malaysia and its manufacturing sector to its next stage of development. RAM Ratings noted the plan is complemented by the recently tabled mid-term review (MTR) of the Twelfth Malaysia Plan (12MP) 2021-2025, which realigned the near-term action plans and key targets with the […]

Malaysia, China sign three MOUs worth nearly RM20bil

Malaysia and China have inked three memoranda of understanding (MOUs) worth RM19.84bil. The first MOU, worth RM15bil, was inked between Citaglobal Bhd and Shanghai Sus Environment on exploring the potential collaboration for developing waste to energy power plants primarily in Malaysia. The second MOU worth RM2.34bil was signed between PM Access World and Beibu Gulf […]

Malaysia’s unemployment rate drops to 3.4% in June, the lowest in three years

Malaysia’s jobless rate fell to 3.4 per cent in June, the lowest since March 2020, supported by a resilient domestic economy, said the Department of Statistics Malaysia (DOSM) on Thursday (Aug 10). The number of employed persons in June rose with a month-on-month increase of 0.2 per cent to 16.3 million, while the number of […]

Malaysia on right track to draw more high-impact investments

Malaysia is on the right track to realise the country’s efforts in attracting more high-impact investments which ultimately would elevate its economy to a higher level. Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said he is confident that the available incentives and focus on key sectors are able to drive […]

Awal Muharram

Wishing all our Muslim friends a joyful Awal Muharram filled with happiness and tranquility. May this Islamic New Year bring renewed hope, success, and unity in your lives. Happy Awal Muharram!

Bank Negara Malaysia retains 2023 GDP growth projection at 4-5pc

Bank Negara Malaysia (BNM) is still maintaining its forecast for the country’s gross domestic product (GDP) growth this year at between 4.0 per cent and 5.0 per cent, said newly-appointed governor Datuk Abdul Rasheed Ghaffour. Domestic demand remains resilient and improvements can be seen in the job market, which continue to support consumer spending, he […]

China, Asean to work together in emerging industries: Minister

China will work with the Association of Southeast Asian Nations to promote high-quality development of key segments of emerging industries and facilitate the flow of various resources to deepen integration in the field, Minister of Industry and Information Technology Jin Zhuanglong said. China and the ASEAN are highly complementary in emerging industries and there is […]