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.…
Malaysia Recorded an Impressive Foreign Bond Last June, Totalling Up to RM198.9 Billion; the Highest Recorded Net Inflow in Six Years Malaysia’s foreign holdings’ bonds climbed to a massive RM198.9 billion last month, according to Malaysian Rating Corp Bhd (MARC). The foreign bonds have grown by RM11.6 billion; making June 2020 the highest recorded net…
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…
New Programme Introduced to Help Those Impacted by COVID-19 A New Wage Subsidy Programme 2.0 has been announced by the Malaysia government intended to help those impacted by COVID-19. The New Wage Subsidy Programme 2.0 falls under the Kerangka Inisiatif Tambahan Prihatin (KitaPrihatin) Framework. The programme is categorising people into two types of income groups.…
Malaysia Up Two Spots From 35th to 33rd Place for Two Years Consecutively The 2020 Global Innovation Index (GIL) ranked Malaysia in 8th position in Asia and 33rd spot globally. Going Strong Two Years in a Row This new ranking in the Global Innovation Index 2020 makes Malaysia the second most innovative country in…
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…
Malaysia to Surpass Singapore in Market Capitalisation 2020 is turning out to be an astonishingly positive year for Malaysia as it rakes up USD 379 billion dollars in market value. To put things in perspective, Malaysia is a stone’s throw from surpassing Singapore, who is leading with only USD 4 billion dollars away. For the…
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 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…
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…