Second Phase of Interest Rate Benchmark Reform

Second Phase of Interest Rate Benchmark Reform

Changing Interest Rates Needs Amendments to Financial Reporting Standards As banks worldwide are consistently changing their interest rate benchmark, financial reporting standards are affected as well. As such, the second phase of interest rate benchmark reform amendments will take effect accordingly. The implementation of this shall take effect for financial reporting beginning in January 2021.…

MIDA Accelerates Digital Transformation in Business Enabling Efficient Industry 4.0 Adoption

MIDA Accelerates Digital Transformation in Business Enabling Efficient Industry 4.0 Adoption

MIDA Accelerates Digital Transformation as Part of Industry 4.0 Initiatives Dynamic re-engineered delivery systems are the key to digital transformation in business for investors. The Malaysian Government is adapting to the new normal by embracing digital transformation in business. The Government is focused on prioritizing faster and efficient digitalization of its delivery services. The Malaysian…

The RM58b Investment in Malaysia 2020 Target Can Be Achieved

The RM58b Investment in Malaysia 2020 Target Can Be Achieved

RM58b Investment For Malaysia 2020 On Target Economic Action Council (EAC) Believes Target Is Achievable The investment target of RM58 billion for 2020 is achievable despite the COVID-10 pandemic. The EAC believes this target can be reached based on the confidence investors have demonstrated. Data from the Malaysian Investment Development Authority (MIDA) already shows that…

Recovering Economy in Malaysia

Recovering Economy in Malaysia

Malaysia’s Economy Shows Positive Signs as More People Resume Work Malaysia’s economy is headed towards a brighter direction after it reopened and saw almost 70% of the workforce recommencing work. Things are surely looking up for Malaysians as 12.7 million employees have returned to their line of businesses, as of 2 June 2020. According to…

Moratorium and Targeted Bank Assistance

Moratorium and Targeted Bank Assistance

Moratorium and Targeted Bank Assistance Announcement in Malaysia On 29 July 2020, Malaysia’s Prime Minister announced the advanced moratorium and targeted bank assistance. Specifically, the loan repayment moratorium was introduced to reduce the financial burden of the people. It was also implemented to address the cash flow challenges faced by businesses, especially in the early…

3 Economic Sectors in Malaysia Are Looking Positive for a Recovery

3 Economic Sectors in Malaysia Are Looking Positive for a Recovery

Adversely Affected Economic Sectors Show Signs of Recovery Malaysia’s three main economic sectors which were severely affected by COVID-19 pandemic shows definite signs of recovery. The country is optimistic that these sectors mainly – Agriculture, Construction, and Manufacturing, will gradually recover. The resumption of government projects has allowed many construction companies in the private sector…