The federal government has spent RM223.5 billion on subsidies between 2012 and 2022, equivalent to 8.9% of its total operating expenditure, according to the Economic Report 2023.

Malaysia govt spent RM223.5 bil on subsidies between 2012 and 2022

KUALA LUMPUR (Oct 13): Private investment is likely to grow by 5.4% year on year (y-o-y) in 2024 versus 4.3% estimated for 2023, in line with more favourables business sentiments and improved external environment, said the Ministry of Finance (MOF).

MOF: 2024 private investment to grow by 5.4% y-o-y; public investment up 8.3%

The share of employee compensation (CE) of gross domestic product (GDP) is projected to improve to 33.1% in 2024, from 32.4% in 2023, said the Ministry of Finance (MOF).

Workers’ compensation to improve to 33.1% of GDP in 2024, but lags behind advanced economies — MOF 

Malaysia’s current account balance is projected to register a surplus of RM62.24 billion in 2024 — slightly higher than the estimated RM61.97 billion in 2023 — equivalent to 3.2% of the gross national income (GNI), according to the Ministry of Finance’s (MOF) 2024 Economic Report Outlook.

MOF: Current account balance to record over RM62 bil surplus in 2024, 3.2% of GNI 

KUALA LUMPUR (Oct 13): The total assets of Islamic banking expanded by 8.1% to RM1.29 billion as at end of July this year, accounting for 36.4% of the market share, according to the Ministry of Finance’s (MOF) 2024 Economic Outlook report.

The ministry said the total Islamic financing o...

Islamic banking assets up 8.1% to RM1.3 bil at end July, says MOF

The federal government plans to spend RM90 billion for development in 2024, 7.2% less than the RM97 billion it planned for in 2023, on the back of a lower allocation for the economic sector of RM45.2 billion, compared with RM55 billion previously.

Malaysia plans RM90 bil development spending for 2024, down 7.2% from RM97 bil in 2023

KUALA LUMPUR (Oct 13): The federal government projects a marginal growth of 1.5% on its revenue for 2024 to RM307.6 billion — a smaller increase compared to 2023, when the pace is estimated at 3%.

Federal govt revenue to grow 1.5% to RM307.6 bil in 2024; lower Petronas dividend

The federal government's debt is projected to be around 64% of GDP as at end-2024 — only 1% away from the 65% statutory debt limit, according to the Ministry of Finance (MOF) in its Fiscal Outlook and Federal Government Revenue Estimates Report.

Federal govt debts anticipated to swell to RM1.26 tril in 2024, 64% of GDP

Employers must raise wages as part of the solution to Malaysia's productivity challenge, according to the Economic Outlook 2024 report.

"The issue of low wages in Malaysia is normally linked to the economy's productivity challenges, with the implied argument that employers should wait for productivity to rise before increasing the wages," the report stated.

Raising wages will help solve productivity problems, says govt

Household debt grew at a moderate pace of 5.1% as at June this year, largely driven by the purchase of residential properties facilitated by homeownership incentives and the purchase of motor vehicles following the extension of the sales tax exemption and new vehicle registration period, according to the Ministry of Finance (MOF).

Household debt grows 5.1% to above RM1.4 tril in 2023; higher than federal government debts

Expectations of the US Federal Reserve reaching the end of its hawkish stance, coupled with China’s economic recovery, is expected to provide support for the ringgit moving forward, according to the Ministry of Finance's (MOF) 2024 Economic Outlook report.

China’s economic recovery, pause in US rate hike to provide support for ringgit in near future, says MOF

Total outstanding government guarantees (GG) is expected to increase slightly to RM317.9 billion in 2023 (equivalent to 17.2% of GDP), from RM317.6 billion in 2022.

Outstanding govt guarantees stand at RM317.9 billion, 17.2% of GDP

Local sukuk and bonds will play a vital role as the financing instrument for programmes and projects featured in the National Energy Transition Roadmap (NETR), the New Industrial Master Plan 2030 (NIMP 2030) and the mid-term review of the 12th Malaysia Plan, according to the Economic Outlook 2024 report published by the Ministry of Finance (MOF).

Local sukuk, bonds to play vital role as financing instruments for various govt policy framework, says MOF

Malaysia’s unemployment rate is expected to return to the pre-pandemic level at 3.4% in 2024, driven by expectations of better economic growth that should stimulate stronger labour demand and spur more solid growth in employment opportunities, according to the Ministry of Finance (MOF).

Unemployment rate to improve further to 3.4% in 2024, says MOF

Eco World Development Group Bhd (KL:ECOWLD)(EcoWorld Malaysia) has officially opened the Tuah 1895 dining and lifestyle hub at its Bukit Bintang City Centre (BBCC) mixed-use development in Pudu, Kuala Lumpur on Friday. 

Developed by BBCC Development Sdn Bhd, which is a joint venture company between EcoWorld Malaysia, UDA Holdings Bhd and the Employees Provident Fund, the 19.4-acre BBCC comprises residential suites, offices, hotels, a mall and entertainment offerings.

EcoWorld Malaysia officially opens Tuah 1895 dining and lifestyle hub at Bukit Bintang City Centre

Solid Automotive Bhd's (SAB) wholly- owned subsidiary Part Center Sdn Bhd (PC) has entered into Sale and Purchase Agreements (SPAs) with two land owners to buy two plots of land, both measuring 1.90 hectares (4.69 acres) in Kapar, Klang.

Solid Automative subsidiary to acquire two land parcels in Klang for combined RM33 mil

Indonesia's Press Council on Friday issued a guideline on the use of artificial intelligence (AI) in journalistic work, reported ANTARA news agency.

The guideline aims to ensure the ethical and transparent use of AI technology while upholding journalistic integrity amid rapid technological advancements.

Indonesia's Press Council launches guideline for AI use in journalism

manahRaya Real Estate Investment Trust (AmanahRaya REIT) has terminated its plan to sell the Contraves building in Cyberjaya due to a failed condition precedent, but is simultaneously pursuing the acquisition of a sustainable asset to boost its distribution per unit (DPU).

The purchaser, 4X Software Sdn Bhd, was unable to fulfill the stipulated condition precedent within the agreed timeline, which ended on Dec 26, 2024, according to AmanahRaya Kenedix REIT Manager Sdn Bhd, the REIT’s manager.

AmanahRaya REIT pursues new asset buy as its RM42.5 mil Cyberjaya property sale falls through

A consortium led by Khazanah Nasional Bhd has received valid acceptances of 1.548 billion shares or 92.82% of the total number of issued shares in Malaysia Airports Holdings Bhd (KL:AIRPORT) on its conditional voluntary offer for shares of the airport operator, better known as MAHB.

MAHB takeover: Acceptance of Khazanah-led consortium's offer reaches 92.82% 

Bursa Malaysia Bhd and its subsidiaries will be closed on Jan 29 and 30 in conjunction with the Chinese New Year (CNY) public holiday.

Bursa Malaysia, subsidiaries to close for CNY public holiday

Packaging manufacturer and developer Scientex Bhd (KL:SCIENTX) on Friday said it is acquiring 528.49 acres of land in Paya Rumput, Melaka for RM333.8 million cash (RM14.50 per sq ft) from Genting Plantations Bhd (KL:GENP).

Scientex buys Melaka land from Genting Plantations for RM333 mil cash

What does the revision of terms mean for MAHB’s privatisation?

China Life Insurance Co, the nation’s largest insurer by market value, said 2024 profit may have jumped as much as 144% from the previous year as the country’s stock rally boosted investment returns.
 
Preliminary net income is estimated to rise between 122% and 144% to a range between 102.4 billion yuan (RM62.05 billion) and 112.6 billion yuan, the Beijing-based company said in a statement to the Hong Kong stock exchange on Friday.

China Life says profit jump up to 144% on market rally

Moody's Ratings on Friday affirmed Malaysia's sovereign rating at A3 with a stable outlook, citing strong medium-term growth prospects and effective policymaking institutions.

Moody's keeps Malaysia's sovereign rating at A3, outlook stable

Shares of YTL Corporation Bhd (KL:YTL) and YTL Power International Bhd (KL:YTLPOWR) fell on Friday in active trade after the companies revealed plans to issue non-tradable warrants exercisable at a discount to market prices.

YTL Corp, YTL Power shares down in active trade after plan to issue non-tradeable warrants

China’s straitened economic circumstances are being reflected in Lunar New Year travel plans, with many choosing cheaper domestic trips or nearby destinations in Asia.

Chinese tourists avoid far-flung trips over Lunar New Year holiday

Malaysian Resources Corporation Bhd (KL:MRCB) will have a long road ahead in gestating the development of the newly secured Ipoh Sentral project that will span 20 years in phases, analysts said.

Long road ahead for MRCB with Ipoh Sentral project, analysts say

Malaysian Resources Corp Bhd (KL:MRCB) is partnering with Melaka Corp to develop a hospital on a parcel of land in Melaka Tengah, that will have an estimated gross development cost of RM520 million.

MRCB forms JV with Melaka Corp for RM520m hospital project

After almost two years of suspension, the automated people mover system (aerotrain) at the Kuala Lumpur International Airport (KLIA) is now targeted to resume operations by the second quarter of 2025, subject to the testing and commission progress.

KLIA aerotrain to resume operations by 2Q, says MD of MAHB

The intraday short selling (IDSS) of Tanco Holdings Bhd’s (KL:TANCO) shares has been suspended for the rest of the day after its last done price dropped more than 15% or 15 sen from its reference price.

Bursa Malaysia suspends short-selling of Tanco's shares

Oversea-Chinese Banking Corp’s (OCBC) chief executive officer made a fresh effort to win over key shareholders of a Singapore insurer that the bank has been trying to take full control of for over two decades.

OCBC CEO met key Great Eastern deal holdouts on US$1b bid — Bloomberg

The government has agreed to provide a 50% discount on toll rates for all Class 1 (private) vehicles on Jan 27 and 28, in conjunction with Chinese New Year 2025, said Works Minister Datuk Seri Alexander Nanta Linggi.

CNY toll discount of 50% on all highways on Jan 27-28, following Cabinet's latest decision — Nanta

Malay rights activist Datuk Ibrahim Ali told the High Court that former prime minister Datuk Seri Najib Razak was dishonest with him about the source of RM600,000 given to him in 2015.

Ibrahim Ali says unaware of source of RM600,000 given to him by 'dishonest' Najib

A lawsuit by 1Malaysia Development Bhd (1MDB) and its subsidiaries against former prime minister Datuk Seri Najib Razak and former management staff will get a new judge.

1MDB lawsuits to get new judges

The first subsea cable system directly connecting Singapore to the American west coast has been granted a landing licence by the US, according to Keppel Ltd, bolstering the city-state’s push as Asia’s leading digital hub.

US-Singapore subsea cable seen worth US$760m gets approval

US President Donald Trump said he would prefer not to have to impose tariffs on China, while at the same time highlighting the influence he sees his threats having over the Asian nation’s actions.&nbsp;

Trump would ‘rather not’ put tariffs on China, maintains threat

TikTok’s Chinese parent company has just over two months to find a buyer for the app’s US business or face a nationwide ban, after getting a time&nbsp;extension from US President Donald Trump.&nbsp;There is already competition to own it.

TikTok’s possible buyers, from Elon Musk to MrBeast

Penang International Airport's (PIA) achievement of becoming Malaysia’s second busiest airport in 2024 is a testament to Penang’s growing role as a key hub for both tourism and business, reflecting the state's strong recovery in the post-pandemic era.

State Tourism and Creative Economy Committee chairman Wong Hon Wai said the growth in PIA’s total passenger volume of 7.47 million last year, which is a 7.07% increase compared with 6.97 million passengers in 2023, aligns with the state government’s significant investments in tourism over the past two years.

Having nation's second busiest airport cements Penang's role as northern aviation hub — exco

Former prime minister Tan Sri Muhyiddin Yassin has fully deposited the judgment sum of RM1.35 million in damages to former Penang chief minister Lim Guan Eng’s lawyers, pending his appeal at the Court of Appeal.

Muhyiddin settles payment of RM1.35m in damages to Guan Eng pending defamation appeal

A pastry company and its director were charged in two Sessions Courts here on Friday with 14 counts of using the halal logo and a registered trademark without approval in the supply of 366 sandwiches of various types.

Shake and Bake Cafe and its director charged with using halal logo without approval

Analysts see China’s latest initiatives injecting at least one trillion yuan (US$138 billion or RM608.44 billion) of additional flows in 2025 into its ailing stock market, with the most bullish calculation by JPMorgan Chase &amp; Co&nbsp;totalling 13 trillion yuan over three years.

China’s new rules to add US$138b into market, analysts say

As an export-driven economy, Malaysia faces challenges this year in keeping up with policy shifts made by its third largest trading partner, the US, according to AmBank.

Malaysia faces challenges keeping pace with US policy shifts, says AmBank economist

Former prime minister Datuk Seri Najib Razak has finally been released from the witness stand, after testifying for 26 days in the 1Malaysia Development Bhd (1MDB)-Tanore trial.

1MDB-Tanore: Najib wraps up 26-day testimony on the stand

The government and Public Services Department (PSD) have filed an appeal over the High Court’s decision in the case involving Aminah Ahmad and more than 50 other pensioners.

A notice of appeal was filed by the Attorney General's Chambers on Jan 23 stating that they are appealing the entirety of High Court judge Datuk Amarjeet Singh Serjit Singh’s decision that in effect gave pension increments to entitled civil servant retirees.

Economic Report 2023/2024

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Economic Report 2023/2024

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