Dear Valued Clients,
Welcome to our E-Newsletter July 2019
We hope this emails finds you well!
One year after May 9, 2019, Malaysia’s economy is slowly picking up momentum in the second quarter of 2019. Let us have a quick look of Malaysia’s economic performance and outlook.
Malaysia’s Economy Is Gaining Momentum
Despite the external volatility caused by escalated global trade tensions, Malaysia’s economic outlook remains positive due to its trade surplus, according to Finance Minister Lim Guan Eng. In fact, Malaysia has been identified as one of the biggest beneficiaries of the trade war, after Vietnam, Taiwan, and Chile. Malaysia is very likely to benefit from a spillover of the trade war due to trade diversion, investment diversion, and business relocation.
Meanwhile, the Malaysian Industrial Development Finance Research (“MIDF Research”) has predicted that the steady-growing sectors like services, mining, and construction will boost Malaysia’s economic growth in the second half of this year. According to the MIDF Research, the overall business performance is expected to keep growing at a steady pace for the next six months. The Research also highlighted that strong domestic demand and low inflationary pressure are important cogs supporting the services sectors, while the export-oriented manufacturing sector will experience moderation due to the global trade slowdown.
Looking at the next half of 2019, we are confident and positive that the current environment of stability and good economic momentum will remain. 3E Accounting Malaysia, at the same time, will continue to strive to achieve better-than-expectation performance to better serve all our clients. Of course, we will continue and strengthen our partnership with all our employees, customers, and business partners.
On behalf of the Company, I would like to thank our hardworking employees, in every areas of the Company, for their commitment. Many thanks to you, valued customers, and business partners, for your continuous support.
Founder, 3E Accounting
Read More in our E-Newsletter July 2019.