Tag: malaysia

The European Union announces a €10 billion investment package for ASEAN countries, focusing on green transition, sustainable connectivity, and development across energy, transportation, digitalization, and education sectors. This initiative marks 45 years of cooperation between the two regions.

[The Semiconductor Equipment Manufacturers Industry (SEMI) predicts global semiconductor manufacturing equipment sales will hit US$108.5 billion in 2022, surpassing the previous record of US$102.5 billion in 2021. Front-end and back-end categories are expected to drive growth, though sales are projected to decline to US$91.2 billion next year.]

The Institute of Chartered Accountants in England and Wales (ICAEW) predicts a challenging start for Asian economies in 2023, but suggests Malaysia will remain relatively resilient. Despite warnings of a potential recession, the country is expected to maintain economic strength amid global inflation and supply chain issues.

RHB Bank is poised to achieve most of its key performance targets for 2022, with a return on equity of 9.3% and loan growth on target. Group CEO Mohd Rashid Mohamad reported that four out of five KPI goals have been met, with only the CASA ratio falling slightly short of expectations.

Bursa Malaysia closed 1% lower with 629 losers versus 347 gainers. The ringgit rose to a three-month high at 4.4760, up 0.43% against the US dollar. Foreign investors bought RM341 million in stocks, signaling potential market recovery and interest in upcoming political and economic developments.

Bank Negara Malaysia has published an exposure draft detailing regulatory guidelines for Digital Insurers and Takaful Operators. The proposed framework aims to enhance market inclusiveness, competition, and operational efficiency while establishing clear licensing and business model standards for digital insurance providers.

The first session of the 15th Malaysian Parliament will commence on December 19, focusing on approving emoluments for civil employees and preparing a new or revised budget under Prime Minister Anwar Ibrahim's administration.

Boustead Plantations Bhd expects continued volatility in palm oil prices for the remainder of the year. High production costs from increased minimum wages, fertilizer, and diesel prices will impact profitability. The company remains optimistic about cost management and crop enhancement strategies for 2022.

S&P Global Ratings predicts Malaysian banks will sustain loan growth of 5-6% in 2023, driven by the country's stable economy. With robust capitalization and provisioning buffers, banks are well-positioned to manage potential asset quality risks amid projected GDP growth of 4.5% over the next three years.

Brunei secured impressive global rankings in business and labor market regulations, scoring 8.8 out of 10 in the Fraser Institute's Economic Freedom Index. The Sultanate ranked 59th globally among 165 economies, demonstrating strength in regulatory compliance and economic frameworks.