News About economy

COVID-19 to place Malaysian economy into technical recession, says AmBank

Mar 26

KUALA LUMPUR (March 26): AmBank Group Research said the coronavirus-induced recession is expected to place both the global economy as well as the Malaysian economy into technical recession.

Malaysian business sentiments hit record low in 2Q amid COVID-19 outbreak

Mar 24

KUALA LUMPUR (March 24): Business sentiment among Malaysian companies dived to a new low in the second quarter of 2020 (2Q20), sinking into the contractionary zone of -21.

SC introduces more relief measures for capital market licensed entities

Mar 24

KUALA LUMPUR (March 24): The Securities Commission Malaysia (SC) will waive the annual licensing fees for 2020 on the core regulated activity of all Capital Markets Services Licence (CMSL) entities with pre-tax profit of RM5 million or less during financial year 2019.

No defence against MCO for REITs

Mar 23

KUALA LUMPUR (March 23): Equity investors usually flock to defensive stocks like real estate investment trusts (REITs) to weather any storms in the markets.

REHDA: This is probably the worst down cycle

Mar 20

PETALING JAYA (March 20): Real Estate and Housing Developers Association Malaysia (Rehda) president Datuk Soam Heng Choon said the current COVID-19 pandemic and economic uncertainties will affect all sectors in Malaysia, including the property development sector.

BNM lowers SRR ratio from 3% to 2%, in move to release RM30b into banking system

Mar 19

KUALA LUMPUR (March 20): Bank Negara Malaysia (BNM) has announced a 100-basis-point cut in the statutory reserve requirement (SRR) ratio from 3% to 2%, effective March 20.

MIEA, MIPEAC call for more measures to help Malaysians impacted by COVID-19

Mar 18

PETALING JAYA (March 18): The Malaysian Institute of Estate Agents (MIEA) said there is an urgent need for the government to come up with further measures to help alleviate the financial burden of workers as industries reel from the COVID-19 crisis.

S&P: Asia-Pacific recession is now guaranteed

Mar 18

KUALA LUMPUR (March 18): Asia-Pacific economic growth in 2020 will more than halve to less than 3% as the global economy enters a recession, said S&P Global Ratings.

Malaysia’s economic stimulus package with additional measures, says PM Muhyiddin

Mar 17

PUTRAJAYA (March 17): The Malaysian government will ensure the implementation of the 2020 economic stimulus package as announced previously with additional measures to mitigate the impact of the COVID-19 pandemic, Prime Minister Tan Sri Muhyiddin Yassin said yesterday.