Malaysia

Malaysia is on the cusp of a significant demographic shift, with the country expected to become an ageing nation by 2030. This transition is marked by an increasing number of residents aged 60 years and above, reflecting broader global trends of ageing populations. The Department of Statistics Malaysia (DOSM) has released its Current Population Estimates for 2024, shedding light on these evolving...

Malaysia's strategic location in Southeast Asia, particularly in relation to the South China Sea, positions it as an important geopolitical player and a strong candidate for BRICS membership, according to Mizan Aslam, a geostrategy expert from the National Defence University of Malaysia (UPNM). Mizan emphasized that the South China Sea has become a focal point for great power competition, involving...

Kuala Lumpur, the bustling capital of Malaysia, has secured its place as the fifth most popular international destination in the first half of 2024, following Tokyo, Bangkok, Osaka, and Seoul. According to digital travel platform Agoda’s booking data, Kuala Lumpur’s ranking highlights its vibrant cultural appeal and modern urban attractions. Kuala Lumpur's Rising Popularity Kuala Lumpur’s appeal...

Malaysia’s target to achieve high-income status by 2030 is both ambitious and realistic, given the country's robust growth trajectory, economic stability, and strong investor confidence. This optimistic outlook is supported by Juwai IQI global chief economist Shan Saeed, who highlights the critical role of key states and strategic sectors in driving Malaysia’s economic advancement. Key Contributors...

Malaysia has demonstrated commendable economic resilience by achieving a gross domestic product (GDP) growth of 3.6% in 2023, according to the Department of Statistics Malaysia (DOSM). This achievement is particularly notable given the challenging global economic environment characterized by geopolitical tensions, rising living costs, and commodity price fluctuations. Services Sector Leading the...

Malaysia's Economic Diversification: Embracing Innovation Amid Fiscal Challenges Malaysia is making remarkable strides in economic diversification, utilizing innovative measures to overcome fiscal challenges. A joint report by the United Nations Development Programme (UNDP) Malaysia and the Malaysian Industry-Government Group for High Technology (MIGHT) highlights Putrajaya's strategic initiatives to...

Where to Stay in Malaysia: Luxurious Hotels in Iconic Destinations A melting pot blending Malay, Chinese, and Indian influences, Malaysia is a captivating destination in Southeast Asia. Situated between Thailand and Singapore, its fast-growing economy, tropical coastline, rich biodiversity, and colonial history enrich its cultural and geographic tapestry. From the glittering lights of Kuala Lumpur and...

Malaysian Construction Sector Poised for Significant Growth in 2H24 The construction sector in Malaysia is gearing up for a substantial acceleration in the second half of this year, propelled by the long-awaited rollout of major infrastructure projects. Following a robust performance in the first half of 2024, the sector is expected to surpass RM40 billion in contract awards this year, marking the highest...

Four Multinational Firms Cease Operations in Malaysia in 2024 During the first half of 2024, four multinational firms with total investments amounting to RM7 billion have ceased operations in Malaysia, according to Minister of Investment, Trade, and Industry Tengku Datuk Seri Zafrul Abdul Aziz. This significant development includes companies from the rubber-based product, transport, iron and steel, and...

Malaysia to Introduce New Cost of Living Indicator by November 2024 In a significant move aimed at providing a more accurate reflection of the financial pressures faced by households, the Malaysian government announced a new indicator to measure the cost of living, set to be introduced by November 2024. This new indicator will complement the existing Consumer Price Index (CPI), which primarily measures...