Malaysia Is the Second-Largest Automobile Market in ASEAN, Surpassing Thailand Move over, Thailand. Malaysia is now the second-largest automobile market in Southeast Asia. Indonesia is still leading the way, although this new achievement marks a significant shift in the region. Malaysia’s automobile sales figures have surpassed Thailand’s for three consecutive quarters (January to March 2024).…
More Control Over Schedules With Flexible Work Arrangements For Malaysian Employees Human Resources Minister Steven Sim Chee Keong stated that Malaysian workers can apply for flexible working arrangements (aturan kerja anjal). According to him, the time, days, and location of work will be related to their employment, referring to Sections 60P and 60Q of the…
Malaysia and Uzbekistan Strengthening Bilateral Bonds Over Economic Matters As Malaysia and Uzbekistan approach their fourth decade of diplomatic relations, the two nations are committed to proclaiming their economic ties. The statement came from Malaysia’s Minister of Investment, Trade and Industry during the Uzbekistan-Malaysia Business Forum at the Silk Road Samarkand Complex, where both prime…
Malaysia’s Services Sector Generates RM2.3 trillion in Total Revenue for 2023 As reported by the Department of Statistics Malaysia, Malaysia’s services sector saw a surge in revenue in 2023, hitting the RM2.3 trillion mark. This is an 8.4% increase from last year’s RM2.1 trillion. Wholesale and retail trade contributed 7.7% to the boost, along with…
Strong Palm Oil Demand in Malaysia, Thanks to India and China Malaysia is anticipating strong palm oil demand this year, thanks mainly to China (9.1%), the European Union (7.1%), and India (17.4%). The Malaysian Palm Oil Board (MPOB) estimates crude palm oil production will hit 18.7 million tonnes. Addressing Challenges the Key to Success…
Malaysia Economic Growth Rate Climbs Between 4.5 to 5.5 Per Cent in 2024 Malaysia’s economic growth rate is predicted to improve further heading into next year, with the country’s gross domestic product (GDP) set to increase by 4.5 to 5.5 per cent in 2024, up from an estimated 4 per cent this year. IMF and…