Prime Minister Datuk Seri Anwar Ibrahim and his Singaporean counterpart Lee Hsien Loong gathered on Thursday to witness a momentous milestone in the development of the Rapid Transit System Link (RTS Link) project. This landmark event marks a symbolic "connection" between Malaysia and Singapore, showcasing a major advancement in this ambitious infrastructure venture. The ceremony highlighted the...
Sabah's tourism industry made a significant contribution to the state's economy in 2022, with a gross value-added of tourism industries (GVATI) reaching RM13 billion. This accounted for 10.7% of Sabah's gross domestic product (GDP), according to the Regional Tourism Satellite Account (RTSA) of Sabah published by the statistics department. In addition, Sabah's GVATI contributed 5.2% to Malaysia's GVATI and...
Malaysia's national inflation rate declined to 1.5% in November 2023, down from 1.8% in October, according to the statistics department. The consumer price index (CPI) edged lower from 1.9% in September to 1.8% in October. Chief statistician Uzir Mahidin reported that monthly headline inflation remained unchanged at 0.1% in November compared to October. Lower increases were...
Bank Negara Malaysia (BNM) has announced that its international reserves have risen to US$112.8 billion as of December 15, 2023, up from US$112.3 billion at the end of November 2023. The central bank confirmed that this reserves position is adequate to finance 5.5 months of imports of goods and services and is equivalent to the total short-term external debt. The primary components of BNM's international...
Malaysia has retained its fifth-place ranking in the Corporate Governance (CG) Watch 2023 report for the Asia-Pacific region, with a score of 61.5%, representing a 2% improvement from 2020. The report, a joint effort between the Asian Corporate Governance Association (ACGA) and brokerage and investment group CLSA, evaluated the corporate governance and environmental, social, and governance (ESG)...
As Malaysia expects tourist arrivals to surpass pre-pandemic levels next year, hotels in the country are devising strategies to make the most of this recovery. Many are intensifying their efforts to meet environmental, social, and governance (ESG) requirements to enhance their attractiveness. However, they are also seeking government support to overcome challenges that could impede their revival efforts....
Kenanga Research has suggested that further enhancements in the supply chain and a reduction in global demand could contribute to keeping inflation in Malaysia within the 2.5%-3% range in the upcoming year. In a recent statement, the research firm pointed out that, despite the anticipation of a slowdown in global growth in 2024, Malaysia's gross domestic product is projected to continue expanding,...
Malaysia's aviation sector is on track to experience a 4% growth in passenger movements in 2024, buoyed by the expansion of local airline fleets, the return of foreign carriers, and the gradual resurgence of Chinese tourists, says MIDF Research. In a recent note, MIDF Research projected that passenger traffic in Malaysia's skies for December 2023 would receive a boost from 30-day visa-free entry...
Malaysia's Ekovest Bhd has entered into a collaborative agreement with China's Zhejiang Communications Investment Group Co Ltd (CICO), the largest state-owned enterprise under the Zhejiang provincial government, to jointly explore and develop various infrastructure and other projects in Malaysia. The partnership will encompass infrastructure concession assets, large-scale infrastructure ventures, food...
Tucked just a short stroll away from the bustling Hang Tuah Interchange Station, the Bukit Bintang City Centre (BBCC) stands as a testament to the harmonious blend of modernity and heritage. Set against the backdrop of Pudu, BBCC's sleek skyscrapers and Japanese lifestyle mall provide a striking contrast to the neighborhood's aging shophouses. Yet, BBCC retains a historical touch, with the former main gate...
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