KUALA LUMPUR (Oct 29): Industries are to shift towards high technologies and high-skilled labour to reduce dependency on foreign workers, the Ministry of Finance (MoF) said.

“As skills and expertise are needed for technology adoption and application, the affected sectors need to invest in upskilling and reskilling initiatives to increase their workers’ productivity and sectors’ performance,” the ministry said in its Economic Report 2021/2022

MOF: Industries to shift towards high tech, and high-skilled labour to reduce foreign labour dependency

KUALA LUMPUR (Oct 29): Malaysia’s capital markets remained vibrant, with gross funds raised increasing by 13.4% to RM163 billion as at the end of July 2021 from a year ago, according to the Economic Outlook 2022 Report published by the Ministry of Finance (MoF) on Friday.

Fundraising activities in the capital markets saw an improvement of 43.1% to RM65.6 billion by the private sector, while the public sector regressed marginally by 0.5% to RM97.4 billion according to MoF.

Malaysian capital markets remain vibrant, gross funds raised increased 16.3% to RM163b as at July 2021

Malaysia's current account balance is projected to record a surplus of RM55.6 billion or 3.5% of the gross national income (GNI) in 2022, according to the Ministry of Finance, down from the RM56.7 billion or 3.8% of the GNI recorded in 2021.

MoF: Robust trade to continue in 2022, current account balance to record RM55.6b surplus, gross exports to increase by 1.5%

Malaysia’s 2021 development expenditure (DE) has been revised lower to RM62 billion from the original budget of RM69 billion.

The 2021/22 Economic Report highlighted that the downward revision is also in line with the reassessment and deferment of several projects.

2021 development expenditure revised to RM62 bil from RM69 bil

A total of RM18.2 billion worth of assets linked to 1Malaysia Development Bhd (1MDB) have been seized or recovered, and placed in the Assets Recovery Trust Account under the custody of the Accountant-General’s Department, the government said.

RM18.2 billion of 1MDB-linked assets seized, recovered

The Ministry of Finance (MoF) said that while Malaysia’s employment structure had not changed significantly during the Covid-19 pandemic, substantial remote work including the "abrupt shift" to work-from-home practices and digitalisation advancement are expected to change the employment landscape and future of work.

MoF: 'Abrupt shift' to work-from-home, digitalisation to change future of work

The total outstanding government guarantees (GGs) increased 1.9% to RM300.4 billion as at end-June 2021, from RM294.7 billion as at end-2020, amid new issuances by the Public Sector Home Financing Board and DanaInfra Nasional Bhd.

Outstanding govt guarantees rise 1.9% to RM300 billion

Covid-19 has had a scarring impact on incomes, giving rise to the emergence of new vulnerable groups while compounding existing issues of under-underemployment and youth unemployment in the nation, the Ministry of Finance (MoF) said.

Pandemic cut per capita income by 6.5%, relegated households to lower-income brackets

The Medium-Term Fiscal Framework (MTFF) for 2022 to 2024 projects the overall fiscal deficit to average at 5% of gross domestic product (GDP), representing a more gradual than initially projected fiscal consolidation trajectory.

Medium-term fiscal framework projects overall fiscal deficit to average at 5% of GDP for 2022 to 2024

Federal government's revenue collection in 2022 is estimated to come in at RM234 billion, or 14.3% of gross domestic product, higher than the revised estimate of RM221 billion for 2021.

Federal govt's 2022 revenue collection estimated to be RM234 billion, 14.3% of GDP

The federal government's revenue for 2021 is estimated to be lower at RM221 billion or 14.6% of gross domestic product in 2021, a 6.7% shortfall from the budget estimates earlier.

6.7% shortfall in revenue to RM221 billion estimated for 2021 budget

The country's economic growth is expected to accelerate to 5.5%-6.5% in 2022 from 3%-4% in 2021, boosted by the continuation of the various stimulus and assistance packages to combat Covid-19.

Malaysian economy to grow faster at 5.5%-6.5% in 2022 vs 3%-4% in 2021

Budget 2022 will focus on driving economic recovery, rebuilding national resilience and catalysing reforms across the private and public sectors.

The Ministry of Finance (MoF) said in its 2022 Economic Outlook Report that the worst-hit sectors such as tourism and its related industries will be prioritised, while businesses will be encouraged to enhance their competitive edge and venture into new growth areas to build resilience and withstand future adversities.

Budget 2022 to focus on driving economic recovery, rebuilding resilience, catalysing reforms

A total of RM75.6 billion has been earmarked for development expenditure (DE) in 2022, higher than the RM62 billion revised allocation for 2021 as the country moves into the second year of the 12th Malaysia Plan.

Higher development expenditure of RM75.6b in 2022 vs RM62b in 2021

KKB Engineering Bhd (KL:KKB) said its 60.81%-owned subsidiary OceanMight Sdn Bhd has won a RM49.78 million arbitration award in a dispute with Shapadu Energy Services Sdn Bhd over hook-up and commissioning projects in Sarawak.

KKB Engineering subsidiary wins RM49.8m arbitration award from Shapadu Energy over Sarawak projects dispute

SSF Home Group Bhd (KL:SSF) is acquiring three parcels of leasehold industrial land in Pulau Indah, Mukim Klang, Selangor, for RM42.47 million to build its own warehouse and distribution facilities, according to a press statement issued on Monday (Oct 26).

SSF Home buys 13-acre industrial land in Pulau Indah for RM42.5 mil

Leonardo Maria del Vecchio is weighing a €7.15 million (RM32.7 million) takeover bid for the publisher of Italy’s Il Fatto Quotidiano, in an unsolicited approach that would expand the Ray-Ban heir’s media holdings.

Ray-Ban heir weighs bid for owner of Italy’s Fatto newspaper

PIE Industrial Bhd (KL:PIE) is banking on growing demand for artificial intelligence (AI) servers and higher production volumes to drive an earnings recovery in the second half of its financial year ending Dec 31, 2026 (FY2026), with full-year performance expected to improve from FY2025.

PIE Industrial banks on AI servers to drive earnings recovery as production ramps up

Matang Bhd (KL:MATANG) has suspended its chief financial officer and acting chief operating officer Tan Theng Hwee pending an internal investigation into governance, operational and management conduct matters.

Matang suspends CFO, acting COO Tan Theng Hwee amid internal probe

SK Hynix Inc’s shares bucked a broad sell-off in AI-related stocks thanks to the prospect of a hefty dividend payout related to the South Korean company’s stake in Japan’s Kioxia Holdings Corp.

SK Hynix shares defy AI sell-off with help from Kioxia gains

Tensions between North Korea and South Korea are running high this week after Pyongyang sent a letter to the UN Security Council, repeating accusations that Seoul fabricated a September landmine incident, and after North Korean howitzers were spotted close to the border.

North Korea-South Korea tensions high as letters lodged with UN, howitzers spotted

(Oct 25):  Elon Musk said on Sunday that SpaceX ​had closed $40 billion in debt financing for graphics processing units, underscoring the soaring cost of building ‌AI computing capacity.

Musk, in a post on X, attributed the successful debt raise to the company's investmen...

Musk says SpaceX raised $40 billion in debt deal, predicts neocloud shakeout

Volkswagen AG and Xpeng Inc secured approvals to trial autonomous driving systems on public roads in China, signalling a renewed push by authorities for larger-scale deployment following a safety review of the technology.

China boosts self-driving push with VW, Xpeng technology trials

SHANGHAI (Oct 26): China's yuan climbed to a fresh four-year high against the dollar on Monday, extending its longest winning streak since May, as softer oil prices and US Treasury yields weighed on the ​greenback, ahead of key policy meetings at home and overseas.

Investors were c...

China's yuan climbs to fresh 4-year high ahead of key policy meetings

Masayoshi Son of SoftBank Group Corp&nbsp;chose locations in Malaysia for US$50 billion in technology investments, the country’s prime minister said, an outlay that would accelerate the billionaire’s global bet on AI infrastructure.

SoftBank’s Son plans US$50 bil Malaysia tech outlay, PM says

Datuk Mahadev Shankar, a member of the royal inquiry into Malaysia’s judge-fixing scandal, has passed away over the weekend. He was 94.

Mahadev Shankar, member of royal inquiry into Anwar black-eye and VK Lingam scandal, passes away

Completing 11 years of schooling from primary (six years) to secondary (five years) is now mandatory for all Malaysian citizens. Parents who fail to comply can be fined up to RM5,000, jailed up to six months, or both. Per the latest United Nations Development Programme (UNDP) data, Malaysians have completed 11.1 years of schooling, on average, well above the global mean of 8.8 years — and just a shade lower than Singapore’s 12 years. A child entering school today has an even higher 12.7 expected years of schooling. By this measure, Malaysia places within the UNDP’s “Very high human development” category. A laudable achievement — but also a false narrative.

Tong's Portfolio — More straight As, less learning: What Malaysia’s exams miss

MyDCD Bhd has launched its ACE Market listing that will raise RM268.8 million for the engineering services firm and its shareholders.

Engineering services firm MyDCD launches ACE Market IPO at 56 sen per share

KUALA LUMPUR (Oct 26): Public Investment Bank Bhd has assigned a fair value of 70 sen on SKA Capital Bhd, which translates into a 63% premium over its initial public offering (IPO) price of 43 sen.

PublicInvest values ACE Market-bound SKA Capital at 70 sen, 63% premium over IPO price

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Summary

•&nbsp;&nbsp; &nbsp;IJM is likely to secure a RM500 million contract for the construction of a data centre for K2 Strategic Infrastructure ...

IJM said to have bagged K2 data centre construction job

BUKIT MERTAJAM (Oct 26): The Magistrates' Court was told on Monday that the prosecution has rejected a representation by Umno Youth chief Datuk Dr Muhamad Akmal Saleh seeking to drop his charge of causing alarm to public safety through his social media account last year.

Prosecution rejects Akmal Saleh's representation to drop public alarm charge

Jio Platforms Ltd raised a record amount of funds for billionaire Mukesh Ambani’s digital and telecommunications giant but it proved to be far less lucrative for the bankers handling the deal.

Jio’s record India IPO falls short of record payday for bankers

SINGAPORE (Oct 26): Malaysia will deepen its partnership with Singapore and work with neighbours to realise regional power connectivity, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

Malaysia seeks greater energy ties with Singapore as it makes a push for Asean grid — Fadillah

KUALA LUMPUR (Oct 25): The move by MCA to walk out of an event to unveil Barisan Nasional (BN) candidates for the 16th Melaka state election on Saturday (Oct 24)&nbsp;night has raised questions regarding the sincerity of its coalition partner, Umno, in their political cooperation.

Melaka polls: Walk-out by MCA raises question of sincerity of Umno

TODAY, Malaysia mourns the loss of Datuk Mahadev Shankar, one of its most distinguished jurists: a formidable advocate, an independent-minded judge and a man whose extraordinary intellect, integrity and commitment to public service left an indelible mark on the nation’s legal landscape.

Obituary: Mahadev Shankar: A life devoted to the law, justice and the nation

Oil prices fell on Monday after surging last week to near six-month highs, amid hopes of easing hostilities between the US and Iran, although persistent attacks on key producer Saudi Arabia kept investors wary.

Oil drops from near six-month highs on hopes Iran war hostilities to ease

Global shares edged up on Monday as oil eased from six-month highs ahead of a week of central bank meetings and corporate earnings that will further test confidence in the artificial intelligence (AI) boom.

Global stocks, bonds cautious ahead of 'formidable' week for risk

KUALA LUMPUR (Oct 26): Subang, Ipoh and Penang airports recorded year-on-year (y-o-y) growth in international passenger traffic in September 2026, despite a decline in overall passenger movements across Malaysia Airports' local network.

Subang, Ipoh, Penang airports see international passenger growth in September despite national decline

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•&nbsp;&nbsp; &nbsp;Elevated crude oil prices following the Strait of Hormuz disruption have renewed interest in Malaysian oil and gas stoc...

Which Malaysian O&G stocks stand to gain from higher-for-longer oil prices?

KUALA LUMPUR (Oct 26): The Ministry of Housing and Local Government (KPKT), through PLANMalaysia and in collaboration with the Ministry of Tourism, Arts and Culture (Motac), state governments and local authorities, is drafting STRA planning guidelines to serve as a uniform source of authority.

Housing Ministry moves to standardise short-term rental accommodation rules nationwide

KUALA LUMPUR (Oct 26): Press Metal Aluminium Holdings Bhd (KL:PMETAL) is expected to see softer smelting margins in the second half of 2026 as aluminium supply crunch eases, said Hong Leong Investment Bank (HLIB) Research.

Press Metal faces softer 2H smelting margins as aluminium supply crunch eases — HLIB Research

KUALA LUMPUR (Oct 26): The government on Monday pledged to publicly release a report by a special task force probing the “corporate mafia” allegations.&nbsp;

Govt pledges to make ‘corporate mafia’ task force report public

Maxis Bhd (KL:MAXIS) is expected to get a small boost to its fibre business, which has seen little growth in recent quarters, analysts said on Monday.

Maxis to get small boost to fibre business after flat quarters, analysts say

ACE Market-bound SKA Capital Bhd has secured six subcontracts worth a combined RM89.28 million for electrical infrastructure works related to projects Tenaga Nasional Bhd (TNB) (KL:TENAGA), ahead of its ACE Market listing on Nov 11.

Economic Report 2021/2022

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