Malaysia’s Export Value Hits RM 112.84 billion in January Malaysia’s export value in January expanded to RM 207.1 billion (1.9%), the highest record of the month. The Ministry of International Trade and Industry (MITI) believes this was thanks to strong exports. Exports include electrical and electronics (E&E) products, petroleum, and liquified natural gas (LNG). Imports…
Malaysia to Sell Electricity to Singapore from 2023 Malaysia will sell electricity to Singapore from 2023. YTL PowerSeraya, Singapore’s local power producer, will be importing it on a commercial basis. Over a two-year period, 100 megawatts (MW) will be imported by YTL from Malaysia’s TNB Power Generation (a subsidiary of Tenaga Nasional Berhad (TNB)) plant…
Malaysia Jan Exports Up by 1.6% From Last Year The January export numbers in Malaysia rose 1.6% from last year. Despite the rise, the numbers are slower than expected. Financial analysts expected it to be 7.4%. The situation was similar for export numbers in January 2022, with a rise of only 2.3%. Analysts were anticipating…
Foreign Reserves Rise to RM493.15 Billion on Jan 13 This Year The Malaysian economy is showing positive signs as the international foreign reserves rise. According to the Central Bank, the foreign reserves reached US$ 114.9 billion on January 13 this year. The figures are constantly growing; on November 2022, it was recorded to be at…
Malaysia’s Labour Scene: Employers Raise Salaries of Workers The salaries for a good majority of Malaysians increased last year. A recent Malaysian Employers Federation (MEF) survey found that the average executive salary had increased by 5.26%. The average for non-executive was 5.35%. According to the Salary Surveys for Executives and Non-Executives 2022, 93% of employers…
Labour Participation Increases as Malaysia Unemployment Falls Malaysia unemployment falls with lowest post-pandemic statistics As Malaysia unemployment falls, the country’s labour force is showing great promise as of the third quarter of 2022. Citing stable economic factors, the Department of Statistics Malaysia (DOSM) attributes this upward trend to several contributing factors. These include an increase…
Investors’ Interest Grows as Malaysia Approves RM193.7 Billion in Investments Approved investments hold strong as Malaysia approves RM193.7 billion in investments Malaysia is showing substantial improvement in investments, according to the Malaysian Investment Development Authority (MIDA). Year-on-year data for the period of January to September 2022 indicates a 2.5% increase from RM188.9 billion in 2021.…
Country’s PM Optimistic About Malaysia’s Economic Growth in the Near Future Malaysia’s economic growth is on the rise and is expected to maintain momentum well into the year’s second quarter. Significantly contributed by the country’s trade, Malaysia set a new record of RM270.4 billion when the trade soared up to 43.4% in June 2022. According…