Russian Invasion No Material Effect On Malaysian Economy In the Short-Term: Economists
The Russian Invasion Of Ukraine and the resulting geopolitical tensions would not have any significant impact on the Malaysian economy in the short term instead might result in an increase in the price of commodities such as crude oil that would bode well for the economy, economists chimed in to say.
They add that Malaysia was a net exporter of oil and the price of crude oil was already firming up coupled with the price of commodities all point to the direction of bolstering the economy but the prolonged crisis would invariable affect Malaysia. To read the full story click here
BNM Says All Investment Abroad Including IMDB Subject To Exchange Control Act
Bank Negara Malaysia said today that all investments abroad by resident entities are subject to the requirements under the Exchange Control Act 1953 that was in force prior to 2013 (since replaced by the Financial Services Act 2013).
It was referring to a testimony of a witness in an ongoing trial in New York relating to the approval given by BNM for 1MDB to invest abroad in 2009. To read the full story click here
Malaysia Is Prime Issuer Of Sukuk in ASEAN, with US$3.9 billion of total issuance
Malaysia leads in sustainable and responsible investing (SRI) sukuk issuance among the ASEAN6 countries, accounting for US$3.9 billion of issuance value or 56% of the total ASEAN SRI sukuk issuance, as of November 2021.
This is according to Trending: Sustainable Responsible Investment in Malaysia and the Region, a research publication released by Ernst & Young Consulting Sdn Bhd (“EY Malaysia”) and Capital Markets Malaysia (CMM)’s Sustainable Investment Platform (SIP) on the growth trend of sustainable and responsible investing (SRI) in Malaysia and its five ASEAN. To read full story click here
Leading Index In December Ascended 2.1 Per Cent Driven Indicating Positive Economic Outlook: DOSM
Malaysia’s Leading Index (LI) in December 2021 remained in an upward growth trend at 2.1 per cent, reaching 111.5 points over the same month of the previous year (December 2020: 109.2 points), Department Of Statistics Malaysia (DOSM)
It said that the growth was primarily supported by a sturdy gain in the Number of Housing Units Approved. In comparison to the previous month, the LI eased to 0.3 per cent in December 2021 (November 2021: 1.6%). To read the full story click here
Boustead Plantations Berhad Delivers Record High Revenue of RM1.1 Bil for FY2021
Boustead Plantations Berhad (BPB) clocked up a successful performance for its financial year ended 31 December 2021 by delivering a revenue of RM1.1 billion, a record high since its listing in 2014. This is a significant increase of 38% from a revenue of RM763 million recorded in the previous financial year of 2020.
For the twelve-month period ended 31 December 2021, the Group’s profit after taxation and zakat (PAT) surged to RM242 million, a sharp increase from RM34 million recorded in the same period last year. Profit before taxation and zakat (PBT) improved to RM345 million in contrast to RM83 million in the previous year, while profit from operations rose to RM391 million. To read the full story click here
Maybank Posts Higher Earnings For 2021, PBT Hits RM10.89 Billion Up 25.8%
Maybank posted higher earnings for the financial year 2021 with profit before tax (PBT) rising 25.8% year-on-year to RM10.89 billion, compared with the RM8.66 billion a year earlier. Net profit rose to RM8.10 billion, 24.9% higher than the RM6.48 billion recorded a year earlier.
The better results were driven by improving regional economic outlook that supported the Group’s higher operating income and reduced impairment losses by 36.6% as it had taken pre-emptive provisioning for potentially bad loans and financial investments since the pandemic started in 2020. To read full story click here
