JOHOR BARU: Johor is the top contributor to the country's agricultural sector, says Johor Mentri Besar Datuk Onn Hafiz Ghazi. Onn Hafiz said the state recorded a Gross Domestic Product (GDP) value of RM17.21bil or 17.1% of the national GDP in the agriculture sector. "Johor continues to be the leader and the largest contributor to the country's...
PETALING JAYA: Malaysia’s retail sector remained resilient in November 2024, as reflected in the latest distributive trade index (DTI) data, but analysts noted potential headwinds ahead. The Department of Statistics Malaysia reported a 3.9% year-on-year (y-o-y) growth in the DTI for November, reaching 158.8 points, although this represented a slowdown from the 5.1% y-o-y growth recorded...
KUALA LUMPUR: Fitch Ratings' latest affirmation on Malaysia's sovereign credit rating underscores its economic progress as envisioned under the MADANI Economy framework, said Prime Minister Datuk Seri Anwar Ibrahim. “This is in particular to the MADANI government's commitment to implement significant legislative and institutional reforms that have resulted in better policy clarity and effective economic management,”...
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim said Malaysia’s strong economic performance in the third quarter (3Q) of 2024 reflects both business and consumer confidence in the Malaysian economy and the government’s economic management. The Ministry of Finance (MOF) in a statement today noted that the 5.3 per cent gross domestic product (GDP) growth recorded...
Malaysia’s sovereign bonds and currency are poised to rebound on robust economic indicators and expectations for fiscal discipline in the upcoming budget, investors said. Prime Minister Datuk Seri Anwar Ibrahim’s spending plan, which is set to be released Friday, will likely show a lower budget deficit ratio of 3.9% from its 2024 target of 4.3%, and...
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: The ringgit opened lower against the greenback as traders adopted a cautious stance and adjusted their positions due to anticipated pre-announcement volatility ahead of Malaysia’s second quarter (2Q) 2024 gross domestic product (GDP) data today. At 8.02 am, the ringgit depreciated to 4.4515/4720 against the US dollar from yesterday’s close of 4.4350/4405. Bank Muamalat Malaysia...
KUALA LUMPUR: The ringgit pared last week’s gains to close lower against the US dollar today due to profit-taking, an analyst said. At 6 pm, the ringgit slid to 4.4500/4580 versus the greenback from Friday's close of 4.4200/4280. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the local note is currently in an...
KUALA LUMPUR: The ringgit rebounded to open slightly higher against the US dollar on positive sentiment ahead of the release of Malaysia’s advance second quarter of 2024 (2Q 2024) gross domestic product (GDP) estimates today. The Department of Statistics Malaysia (DoSM) is scheduled to release the 2Q 2024 GDP estimate data in the afternoon. At 8 am,...
PETALING JAYA: Malaysia may have been ranked as the second worst in the world for work-life balance, but the rating was possibly dragged down by two of the nine metrics used, says an employment legal practitioner. Chia Swee Yik said the minimum wage (about US$1) and LGBTQ+ inclusivity (score 15) seem to have affected Malaysia’s ranking. Commenting...
