IN THE NEWS

ECERDC AIMS TO DRAW RM31 BILLION PRIVATE INVESTMENTS TO PAHANG BY 2025 The East Coast Economic Region Development Council (ECERDC) aims to attract RM31 billion in private investments to Pahang by 2025 through tourism and agriculture. The Federal Government, through the ECERDC and in collaboration with the Pahang State Government, is also committed to increasing…

RAPID BUS RESTRUCTURES ROUTES DUE TO COVID-19 Rapid Bus Sdn Bhd, a bus service operator in the Klang Valley, Penang, Pahang and Perak is currently restructuring its routes to optimise its resources and assets, following the challenges and difficulties of the Covid-19 pandemic. Rapid Bus, a subsidiary of Prasarana Malaysia Berhad, denoted that restructuring measures…

TOTAL TRADE EASES 2.5% TO RM159.98 BILLION IN OCTOBER 2020 In October 2020, Malaysia’s total trade contracted 2.5% year-on-year to RM159.98 billion. Trade surplus expanded 25.9% year-on-year to RM22.12 billion, as exports grew 0.2% to RM91.05 billion and imports contracted by 6.0% to RM68.93 billion. Higher exports to the United States, China, India and the…

MITI APPROVED 312 PROJECTS WORTH RM22.9 BILLION The Ministry of International Trade and Industry (MITI) has approved 312 projects with investment value of RM22.9 billion from 1 July 2020 until 31 October 2020, via the electronic Manufacturing Licence digital platform (e-ML). Approval under the e-ML digital platform on a “fast track” basis was among the ministry’s efforts to attract new…

2021 GDP GROWTH PROJECTION OF 6.5%-7.5% BASED ON ECONOMIC EXPECTATIONS The Malaysian Government’s Gross Domestic Product (GDP) growth projection of between 6.5% and 7.5% for 2021 is an estimate based on expected economic developments in 2021. The first presumption was on the availability of a Covid-19 vaccine. (The Edge Markets, 14/11/2020) RCEP CAN BE AN…

BUDGET 2021 HIGHLIGHTS The Budget 2021 was introduced with the theme, “Resilient as One, Together we Triumph” and the most relevant highlights are provided below: (The Star, 07/11/2020)  

MITI: RM6 BILLION INVESTMENTS APPROVED IN LESS DEVELOPED AREAS UP TO SEPT The Ministry of International Trade and Industry (MITI) denoted that 20 projects under the Less Developed Area Incentive (LDA Incentive) had been approved up to September 2020, racking up total investments of RM6 billion. These projects were expected to generate 3,289 jobs for…

SELANGOR PROJECTS SLOWER GDP GROWTH OF 2.09% IN 2020 The Selangor State Government expects the State’s economy to grow at a slower pace of 2.09% in 2020 due to the impact of the Covid-19 pandemic. The government has prepared three scenarios based on national GDP. Firstly, if national GDP growth is forecasted at 0.5%, then…

MIER REVISES REAL GDP PROJECTION DOWNWARDS TO -5.5% FOR 2020 The Malaysian Institute of Economic Research (MIER) has made a downward revision to its real Gross Domestic Product (GDP) projection for 2020 to -5.5%, amid a confluence of factors that weighed on the economy. The projection was based on a deep decline in the 2Q20…

BANK NEGARA: AID FOR BORROWERS UNTIL 2021 Repayment assistance will remain available in 2020 and into 2021 for borrowers whose incomes have been affected by the Covid-19 pandemic. Bank Negara Malaysia gave an assurance that assistance would continue to be offered to borrowers across a range of income groups, with special consideration given to households…

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