Bank Negara: Malaysia Records 5pc GDP Growth in Q1 2022 GDP, Whole Year Growth Rate Projected At 5.3% To 6.3%
The Malaysian economy registered a positive growth of 5.0% in the first quarter of 2022 (4Q 2021: 3.6%). This was mainly supported by improving domestic demand as economic activity continued to normalise with the easing of containment measures.
BNM said that the improvement also reflects the recovery in the job market, with the unemployment rate declining further to 4.1% (4Q 2021: 4.3%), as well as continued policy support. To read the full story click here
US Pledges US150 Million To Asean Leaders
The US has promised to spend $150 million on its infrastructure, security, pandemic preparedness, and other efforts aimed at countering the influence of rival China.
US President Joe Biden made this promise when he opened a gathering of Southeast Asian leaders in Washington with a dinner for the leaders at the White House ahead of talks at the State Department on Friday. To read the full story click here
Bank Negara Malaysia Hike Rates By 25 Basis Points
The Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to increase the Overnight Policy Rate (OPR) by 25 basis points to 2.00 percent.
In a statement, Bank Negara Malaysia said that the ceiling and floor rates of the corridor of the OPR are correspondingly increased to 2.25 percent and 1.75 percent, respectively. To read the full story click here
Increase In OPR A Slight Dampener To The Property Market’s Recovery: Analysts
Bank Negara Malaysia’s Monetary Policy Committee (MPC) decision to increase the overnight policy rate (OPR) by 25 basis points (bps) to 2.00 percent has received a somewhat subdued response from the property sector, property analysts told Business Today.
They said that the market was reeling from the pandemic coupled with lacklustre demand in the sector partly due to the overhang and the hike in interest rate would only be a dampener. To read the full story click here
US Consumer Sentiment Plunging
Economics is about the study of mood among business managers and consumers.
It is most certainly not what investors are thinking. They are usually well behind the first two groups which make up Main Street. To read the full story click here
Malaysia’s Manufacturing Sales In March Stood At Record Value Of RM144.6 Billion : DOSM
Malaysia’s Manufacturing sales value in March 2022 stood at RM144.6 billion, grew 13.9 per cent as compared to the previous year, the Department Of Statistics Malaysia (DOSM) said.
It said that the rise in sales value in March 2022 was driven by the increase in Food, Beverages & Tobacco Products (16.4%), Petroleum Chemical, Rubber & Plastic Products (12.6%) and Electrical & Electronics Products (9.8%). Meanwhile, on month-on-month basis, the sales value increased 9.8 per cent. To read the fully story click here
Serba Dinamik’s Shares On A Bearish Phase
Share prices of Serba Dinamik Holdings Bhd drifted downwards when the shares resumed trading this morning as the brokers have demanded cash upfront for the trading of its shares, an analyst said.
The trading suspension on the shares was lifted effective 9 am today. The analyst said that some brokers have demanded 100% cash upfront before any trade execution on the shares. To read the full story click here
