Bank Negara Malaysia released its Annual Report 2023 on Wednesday, together with two other flagship publications — Economic and Monetary Review 2023, and Financial Stability Review for 2nd Half 2023 — in which the central bank shared its assessments on the nation's economy and financial system, current and potential risks, and actions taken to manage them.

10 key charts from BNM's Annual Report 2023

Malaysia will not be facing a balance of payment crisis, the central bank said on Wednesday, after the current-account surplus narrowed sharply to its lowest in 26 years.

Current-account surplus is expected to improve in 2024, mainly driven by growth in the tourism sector and export recovery this year, Bank Negara Malaysia’s deputy governor Marzunisham Omar told reporters following the release of the central bank’s annual report.

Malaysia will avoid balance of payment crisis as current-account surplus widens, BNM says

Malaysia has a “window of opportunity” to undertake the necessary structural reforms on the back of steady economic growth projections, coupled with moderating and stable inflationary pressures, said Bank Negara Malaysia governor Datuk Shaik Abdul Rasheed Abdul Ghaffour.

Malaysia has window of opportunity for structural reforms amid growth rebound and stable inflation, says BNM governor

Bank Negara Malaysia (BNM) strongly urged Malaysian businesses from all sectors to repatriate their overseas investment income and convert export proceeds back to ringgit to support the central bank's efforts to manage short-term pressure on the local currency.

BNM finds rising foreign currency holdings, widens calls for repatriation to bolster ringgit

KUALA LUMPUR (March 20): Bank Negara Malaysia expects wages to increase further in 2024 following slowdown last year, while the jobless rate will likely remain stable near its past trend.

Wages to increase further in 2024, jobless rate to stay stable, says BNM

The upcoming Consumer Credit Act (CCA), aimed to promote responsible practices among credit lending activities, does not address credit scoring services provided by credit reporting agencies (CRAs).

Credit scores have 'useful purpose', not addressed in Consumer Credit Act, says BNM deputy governor

KUALA LUMPUR (March 20): The impact of reform measures such as subsidy rationalisation are temporary in measure and as such, do not require monetary policy intervention, said Bank Negara Malaysia (BNM) on Wednesday.

Subsidy reform measures do not require monetary policy intervention, says BNM governor

Malaysia’s current-account surplus in the balance of payment is expected to improve this year following a sharp decline to a 26-year low in 2023, Bank Negara Malaysia (BNM) said.

BNM projects current-account surplus to improve this year after hitting 26-year low in 2023

KUALA LUMPUR (March 20): The profitability of insurance and takaful funds declined in the second half of 2023 (2H2023) due to larger net underwriting losses of life insurance and family takaful funds as a result of an increase in medical claims payments, said Bank Negara Malaysia (BNM).

BNM: Insurance and takaful funds’ profit dropped in 2H2023 as payments of medical claims increased

KUALA LUMPUR (March 20): Malaysian banks remain well-capitalised to absorb unexpected shocks and support financial intermediation in the economy, according to Bank Negara Malaysia.

BNM: Malaysia’s banking system remains well-capitalised, resilient against liquidity shock

Bank Negara Malaysia (BNM) has pledged a monetary policy stance supportive of the economy, even as the central bank flagged potential risks to inflation and growth as the government tightened its budget for subsidies.

BNM pledges supportive monetary policy, flags risks to inflation, growth

Bank Negara Malaysia (BNM) recorded a marginal growth of 2.4% in its net profit after tax (PAT) to RM7.16 billion for the financial year ended Dec 31, 2023 (FY2023), against RM6.99 billion in FY2022, according to its annual report released on Wednesday.

BNM records marginal 2.4% growth in PAT to RM7.16b in FY2023

Bank Negara Malaysia (BNM) is projecting Malaysia's gross domestic product (GDP) to expand between 4% and 5% in 2024, as compared with 3.7% in 2023, driven mainly by resilient domestic expenditure, with additional support emanating from the expected recovery in exports.

BNM sees economy expanding 4%-5% in 2024 amid resilient domestic expenditure, improved external demand

Headline and core inflation may stay moderate this year amid stable demand conditions and contained price pressures, Bank Negara Malaysia (BNM) said while flagging upside risks.

BNM expects inflation to stay moderate in 2024 amid muted pressures

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Wall St closes up on revival supported by inflation data, tech stocks

Sarawak certainly had more good reasons to celebrate its 61st year of independence last Monday (July 22).

In conjunction with the celebration, the state saw the inauguration of a new methanol plant in Bintulu and the signing of gas sales agreements — the first after state-owned Petroleum Sarawak Bhd (Petros) became the sole gas aggregator, taking over from Petroliam Nasional Bhd (Petronas).

A major win in Sarawak’s bid to reclaim rights

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Premier: Sarawak expects to ink S&P on Affin Bank deal in a month

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Treasuries rally as data points to a September rate cut

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce & Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.

Miami condo tower moves on from brokers facing rape allegations

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Deputy PM Fadillah pays courtesy visit to Vietnamese PM, strengthens bilateral cooperation

Malaysia has urged dialogue partners attending the Asean Post-Ministerial Conference in Laos to support a ceasefire in Gaza and end the brutal killings of Palestinians.

Foreign Minister Datuk Seri Mohamad Hasan said Malaysia, along with Indonesia and Brunei, brought forward this motion during the meeting at the National Convention Centre (NCC) here.

Malaysia urges Asean dialogue partners to support ceasefire in Gaza

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

US charges Citron's Andrew Left over alleged multi-million fraud scheme

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

Malaysia steps up efforts to finalise South China Sea code of conduct

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

AirAsia X, Capital A, Hibiscus, Dagang NeXchange, ViTrox, Ekovest, Knusford, Alam Maritim, Datasonic, Kumpulan Kitacon, DXN, Homeritz, Westport, MGRC 

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

The prestigious five-star Lexis Hibiscus 2 luxury resort is currently under construction by the KL Metro Group and is expected to be completed by 2029, said Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.

Construction of RM1.6 bil GDV Lexis Hibiscus 2 resort will be completed in 2029

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Upholstery furniture products manufacturer Homeritz Corp Bhd’s (KL:HOMERIZ) net profit surged 46.37% in the third quarter from a year earlier, thanks to higher sales volume and stronger US dollar. &nbsp;

Net profit for three months ended May 31, 2024 (3QFY2024) climbed to RM9.09 million or earnings per share of 1.96 sen, from RM6.21 million or 1.34 sen per share recorded in 3QFY2023. &nbsp;

Homeritz’s 3Q net profit soars 46.37% on higher sales and strong greenback

Cyberview Sdn Bhd has signed three Memoranda of Understanding (MOUs) with three companies to make Cyberjaya a global technology hub.

Chief executive officer Kamarul Ariffin Abdul Samad said the companies involved were Permodalan Negeri Selangor Bhd (PNSB), Selangor Information Technology &amp; Digital Economy Corporation (SIDEC) and digital infrastructure company Equinix Malaysia.

Cyberview signs three MOUs to make Cyberjaya a global technology hub

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce &amp; Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.&nbsp;

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor.

Kumpulan Kitacon bags RM54.5m job to build houses in Rawang

Penang Port Sdn Bhd (Penang Port) on Friday announced the acquisition of five Kalmar container handling machines to optimise operations and improve service levels.

Penang Port acquires Kalmar container handling equipment to enhance services

A new recruitment of 3,950 staff, comprising 3,200 medical officers, 350 dental officers and 400 pharmacy officers, will be made through contract (interim) appointments, the Ministry of Health (MOH) said.

More than 3,900 contract officers to be appointed in latest recruitment — MOH

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

Sarawak certainly had more good reasons to celebrate its 61st year of independence last Monday (July 22).

In conjunction with the celebration, the state saw the inauguration of a new methanol plant in Bintulu and the signing of gas sales agreements — the first after state-owned Petroleum Sarawak Bhd (Petros) became the sole gas aggregator, taking over from Petroliam Nasional Bhd (Petronas).

Hungary will face fuel shortages from September if full Russian oil flows are not restored, a government official said on Friday, accusing Ukraine of blackmailing it by partially suspending supplies.

Eastern European Union (EU) members Slovakia and Hungary have been hit by a stop in flows from Russian group Lukoil coming via Ukraine after sanctions were imposed on the company.

Hungary says it will face fuel shortages from September without Lukoil supplies

The government will now determine the locations for distributing subsidised cooking oil packets to retail outlets to prevent further leakage of controlled goods, says Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.

KPDN to set subsidised cooking oil distribution locations to curb leakage — Armizan

Digital Penang has announced the Market Access Thailand programme, which aims to propel Penang’s startups into Thailand’s market and create opportunities for exponential growth and innovation.

Digital Penang announces cross-border startup collaboration with Thailand

Malaysia has urged dialogue partners attending the Asean Post-Ministerial Conference in Laos to support a ceasefire in Gaza and end the brutal killings of Palestinians.

Foreign Minister Datuk Seri Mohamad Hasan said Malaysia, along with Indonesia and Brunei, brought forward this motion during the meeting at the National Convention Centre (NCC) here.

BNM Annual Report

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BNM Annual Report

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