IN THE NEWS

2-WEEK FULL LOCKDOWN FROM 1ST JUNE 2021 Malaysia will be placed under a two-week total lockdown from 1st June 2021 to 14th June 2021. All sectors are not allowed to operate except for essential economic and services sectors. (NST & The Star, 29/05/2021) GROWTH MOMENTUM STAYS STRONG Malaysia maintained its strong momentum in April 2021…

INFLATION INCHES UP IN APRIL ON HIGHER OIL PRICES Malaysia’s inflation rate increased to 4.7% in April 2021 from a year ago, the highest since 2018, due to the spike in crude oil prices which fuelled the increase in petrol and diesel prices. Such trend is expected to continue until 1Q22. The increase in the…

DATA POINTS TO AN AGEING NATION The population projections from 2010-2040 by the Department of Statistics Malaysia (DOSM) revealed that Malaysia may become an ageing nation by 2030, with people aged 60 years and over surpassing 15% of the population. DOSM’s latest population for 2020 was estimated at 32.7 million, comprising 90.8% (29.7 million) citizens…

LABOUR FORCE RATE RISES 0.2% IN MARCH 2021 Malaysia’s labour force situation improved in March 2021 as the number of people employed rose by 0.2% to 16.08 million from 16.05 million in February 2021. During March 2021, the number of employed persons continued to increase by 0.4% to 15.33 million persons (February 2021: 15.27 million…

MDEC PUSHING TO ATTRACT GBS MARKET The Malaysia Digital Economy Corp (MDEC) is accelerating plans to attract high-value digital Global Business Services (GBS). The GBS market size in Malaysia is expected to grow from US$1.3 billion in 2019 to US$1.5 billion by the end of 2024. (The Star, 03/05/2021) MALAYSIA’S EXPORT, IMPORT UNIT VALUE INDICES…

MALAYSIA ATTRACTED RM81.9 BILLION FDI SO FAR IN 2021 Malaysia has managed to attract Foreign Direct Investment (FDI) worth RM81.9 billion from 240 companies thus far in 2021. All the investments are of high quality, including investments in the technology, innovation, green technology, electric vehicles and financial technology sectors, with South Korea and Japan continuing…

FINANCE MINISTRY SEES AID MEASURES HELPING TO ACHIEVE GOOD DATA The Ministry of Finance Malaysia believes the implementation of various financial aid and support measures for the people and close monitoring can help the country to achieve good data, hence helping Malaysia towards achieving its Gross Domestic Product (GDP) target of between 6% and 7.5%…

IMF MAINTAINS MALAYSIA’S GDP GROWTH AT 6.5% IN 2021 The International Monetary Fund (IMF) maintains its forecast on Malaysia’s Gross Domestic Product (GDP) growth in 2021 at 6.5% and the country’s economy is expected to grow at 6.0% in 2022. IMF expects the country’s unemployment rate to decline to 3.8% in 2021 before further declining…

IMF MAINTAINS MALAYSIA’S GDP GROWTH AT 6.5% IN 2021 The International Monetary Fund (IMF) maintains its forecast on Malaysia’s Gross Domestic Product (GDP) growth in 2021 at 6.5% and the country’s economy is expected to grow at 6.0% in 2022. IMF expects the country’s unemployment rate to decline to 3.8% in 2021 before further declining…

MORE STABLE UNEMPLOYMENT RATE BY THE MIDDLE OF 2021 According to the Prime Minister’s Department (Economy), Malaysia’s unemployment rate is expected to be more stable by the middle of 2021. The unemployment rate in January 2021 was 4.9%, lower than the rate registered in May 2020 which was 5.3%. (The Edge Markets, 21/03/2021 & The…

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