KUALA LUMPUR: Malaysia is expected to maintain its economic growth forecast of 4.8% this year, mainly driven by consumer spending, according to Standard Chartered Bank Malaysia Bhd (StanChart). "We see consumer spending moderating as labour-market conditions soften but expect it to remain the primary driver," said StanChart economist Jonathan Koh and chief economist Edward Lee in...
KUALA LUMPUR: Bank Negara’s international reserve rose to US$114.7bil as at July 31 compared with US$113.3bil as at July 15. “The reserves position is sufficient to finance 5.5 months of imports of goods and services, and is 1.0 times of the total short-term external debt,” the central bank said in a statement. The main components of the...
KUALA LUMPUR: Former Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz told the High Court here that former AmBank CEO Ashok Ramamurthy had attempted to conceal his wrongdoings in the 1Malaysia Development Bhd (1MDB) financial scandal. She claimed that Ashok, an Australian, had "every reason" to say something against her for this purpose to cover...
PUTRAJAYA: Tun Dr Mahathir Mohamad has challenged Prime Minister Anwar Ibrahim to call for a snap election to test his support among Malaysians. "During my time, I won elections with a two-thirds majority. "The people had the chance to throw me out, but they didn't. I challenge Anwar to call for elections today to see what the...
KUALA LUMPUR: Bank Negara Malaysia (BNM) analyst Adam Ariff Mohd Roslan colluded with the Malaysian Anti-Corruption Commission (MACC) when he made his report on 1Malaysia Development Bhd’s (1MDB) money trails, Tan Sri Muhammad Shafee Abdullah claimed at the High Court here. The lead counsel of Datuk Seri Najib Razak made the allegation at the latter’s trial...
KUALA LUMPUR: Former Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz on Monday (Aug 28) revealed at the High Court here that the central bank had in fact recommended a penalty amounting to RM23mil against 1Malaysia Development Berhad (1MDB) but the Attorney-General (AG) then reduced the fine to RM15mil. The 76-year-old witness said, in order...
KUALA LUMPUR: Former Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz told the High Court that the central bank took seven years to discover that some US$700mil from 1Malaysia Development Bhd (1MDB) coffers were diverted to Good Star Ltd, a company linked to Low Taek Jho or Jho Low. Zeti said, however, that this span...
KUALA LUMPUR: Former Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz has been seen entering the Kuala Lumpur Court Complex here for the RM2.28bil 1Malaysia Development Bhd (1MBD) trial involving Datuk Seri Najib Razak. She is expected to testify against the former prime minister as a prosecution witness in the trial on Wednesday (July 26). Zeti's...
