Malaysia

2024 - 1 - 19

Malaysia's Economic Rollercoaster: From Rubber Exports to Brave Salary Decisions

aviation industry - economy - labor shortage - Malaysia - Prime Minister - rubber exports - trade

Discover the wild ride of Malaysia's economy in 2023, from booming rubber exports to a PM forgoing his salary. Find out more!

In 2023, Malaysia raked in RM27.16 billion from rubber exports, with a significant portion of RM19.04 billion attributed to rubber gloves alone. The Malaysian Rubber Council revealed that the top export destinations were the US and the EU, showcasing the country's robust trade in the rubber industry. Meanwhile, the debut of the first offshore patrol vessel (OPV1) fully constructed in Malaysia marked a milestone in the nation's maritime capabilities, as it embarked on surveillance operations in the South China Sea.

On the aviation front, Malaysia Aviation Group's Managing Director, Datuk Captain Izham bin Ismail, took center stage as a keynote speaker at the Routes Asia 2024 conference, emphasizing Malaysia's prominence in the airline industry. Prime Minister Datuk Seri Anwar Ibrahim's decision to forgo his salary garnered attention, showcasing his commitment to the country's welfare in challenging times.

Despite economic challenges, Malaysia's trade surpassed RM2 trillion for the third consecutive year in 2023, albeit experiencing an 8% drop in exports. As the country grappled with a labor shortage and decreased global demand, the economy grew by 3.4% in the fourth quarter, slightly missing estimates.

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Image courtesy of "Malay Mail"

Malaysia earns RM27.16b from rubber exports in 2023, says MRC (Malay Mail)

KUALA LUMPUR, Jan 18 — Malaysia has earned RM27.16 billion from rubber exports in 2023, with 70 per cent, or RM19.04 billion coming from rubber gloves, ...

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Image courtesy of "Free Malaysia Today"

Malaysia earns RM27.2bil from rubber exports in 2023 (Free Malaysia Today)

The top two export destinations are the US and EU, says the Malaysian Rubber Council.

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Image courtesy of "Free Malaysia Today"

1st Made-in-Malaysia patrol vessel starts operations in South China ... (Free Malaysia Today)

KUCHING: The first offshore patrol vessel (OPV1) fully built in Malaysia has officially commenced its first operation by undertaking surveillance in the ...

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Image courtesy of "Aviation Week"

Malaysia Aviation Group Chief Joins Routes Asia Conference ... (Aviation Week)

Malaysia Aviation Group Managing Director Datuk Captain Izham bin Ismail has joined the Routes Asia 2024 conference programme as a keynote speaker.

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Image courtesy of "Malay Mail"

PM Anwar sticks with decision to forego salary until Malaysia's ... (Malay Mail)

CYBERJAYA, Jan 18 — Prime Minister Datuk Seri Anwar Ibrahim remains steadfast in his decision not to take his salary for the positions he has held since ...

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Image courtesy of "Yahoo Finance"

CHiQ Electric (Malaysia) and TPA Host 2024 Spring Dealer ... (Yahoo Finance)

On January 15, 2024, CHiQ Electric (Malaysia) SDN BHD, in collaboration with its exclusive distributor for the region, TP AUDIO SDN BHD (TPA), convened the ...

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Image courtesy of "Livemint"

Malaysia Airlines seeks code-share pact | Mint (Livemint)

Malaysia Airlines is seeking a partnership with an Indian carrier to increase its presence in the Indian aviation market, with the airline ready to work ...

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Image courtesy of "Nikkei Asia"

Malaysia's top electronics chain pivots to online growth strategy (Nikkei Asia)

KUALA LUMPUR -- Malaysia's largest electronics chain, Senheng New Retail, plans to stop opening new brick-and-mortar stores from 2026, according to it.

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Image courtesy of "Malay Mail"

Malaysia's healthcare dilemma: Tackling the issue of brain drain ... (Malay Mail)

JANUARY 19 — The perplexing phenomenon widely recognised as “brain drain” has burgeoned into an all-encompassing challenge globally, especially prevalent ...

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Image courtesy of "Free Malaysia Today"

64% of Japanese firms in Malaysia face labour shortage, says survey (Free Malaysia Today)

According to the study by the Japan External Trade Organization, the manufacturing and retail sectors are most affected.

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Image courtesy of "New Straits Times Online"

Exports fell 8pc in 2023, bringing Malaysia's total trade down by 7.3pc (New Straits Times Online)

KUALA LUMPUR: Malaysia's trade fell 7.3 per cent to RM2.637 trillion in 2023 dragged by slower global demand, lower commodity prices, ...

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Image courtesy of "The Edge Markets MY"

Malaysia's trade contracts but exceeds RM2 tril for third consecutive ... (The Edge Markets MY)

KUALA LUMPUR (Jan 19): Malaysia's trade exceeded RM2 trillion for the third consecutive year in 2023 at RM2.64 trillion, albeit down 7.3% compared with 2022 ...

Malaysia's Exports Slumped in 2023 Amid Tough Global Environment (marketscreener.com)

For the full year, exports slid 8.0%, imports fell 6.4% and the trade surplus dropped 16.4% to MYR214.10 billion, amid lower commodity prices, geopolitical ...

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Image courtesy of "The Star Online"

Malaysia records 2023 trade worth RM2.64T - Miti (The Star Online)

KUALA LUMPUR: Despite a challenging global economic landscape, Malaysia's trade exceeded RM2 trillion for the third consecutive year to reach RM2.64 ...

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Image courtesy of "Reuters"

Malaysia's economy likely grew 3.4% y/y in Q4 - govt (Reuters)

The department began releasing preliminary estimates on quarterly economic performance in October last year, citing demand for more timely statistics and to ...

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Image courtesy of "The Wall Street Journal"

Malaysia's Economy Slowed Sharply in 2023, Advance Estimates ... (The Wall Street Journal)

The country's gross domestic product rose 3.4% in the final three months of 2023, undershooting economists' expectations.

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Image courtesy of "BNN"

Malaysia's Economy Expands 3.4% Last Quarter, Missing Estimate ... (BNN)

(Bloomberg) -- Malaysia's economy grew at a slower-than-estimated pace in the fourth quarter, signaling that a firmer recovery is taking longer than ...

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Image courtesy of "The Straits Times"

Malaysia's economic growth misses estimate as China weighs (The Straits Times)

A slowdown in construction and stagnant manufacturing activity weighed on the economy. Read more at straitstimes.com.

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Image courtesy of "The Star Online"

Malaysia's economic growth at 3.4% in 4Q23 - DoSM (The Star Online)

KUALA LUMPUR: Malaysia's economy is estimated to grow by 3.4 per cent in the fourth quarter of 2023 (4Q 2023), as compared to 3.3 per cent in the previous ...

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Image courtesy of "The Business Times"

Malaysia's economic growth misses estimate as China weighs (The Business Times)

MALAYSIA'S economy grew at a slower-than-estimated pace in the fourth quarter as exports to China fell, signalling that a firmer recovery is taking longer ...

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Image courtesy of "The Edge Markets MY"

Malaysia's 4Q2023 economic growth misses estimate as China ... (The Edge Markets MY)

(Jan 19): Malaysia's economy grew at a slower-than-estimated pace in the fourth quarter on 2023 (4Q2023), as exports to China fell, signalling that a firmer ...

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Image courtesy of "Free Malaysia Today"

Increased SARA aid for 700000 Malaysians starts Monday (Free Malaysia Today)

The finance ministry says eligible households and single senior citizens will receive a monthly cash aid of RM100 each while other singles will get RM50.

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Image courtesy of "Free Malaysia Today"

Malaysia's economic growth misses estimate (Free Malaysia Today)

KUALA LUMPUR: Malaysia's economy grew at a slower-than-estimated pace in the fourth quarter as exports to China fell, signalling that a firmer recovery is ...

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Image courtesy of "Reuters"

Malaysia central bank likely to keep rates untouched until at least ... (Reuters)

Bank Negara Malaysia (BNM) will leave its overnight policy rate (OPR) unchanged at 3.00% on Jan. 24 and hold it there until at least end-2025 as price ...

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Image courtesy of "The Business Times"

Malaysian economy expected to expand 3.8% in 2023, missing forecast due to weak exports (The Business Times)

[KUALA LUMPUR] Malaysia's economic growth in 2023 is expected to have expanded at a slower-than-expected pace due to lower exports. The country's gross domestic product (GDP) growth is projected to have grown by 3.4 per cent in the fourth quarter last ...

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Image courtesy of "The Star Online"

Malaysia's trade outlook positive, exports to rebound by 4.3% in ... (The Star Online)

KUALA LUMPUR: RHB Investment Bank Bhd (RHB IB) maintained its sanguine view of Malaysia's trade outlook for 2024, with exports to rebound by 4.3 per cent ...

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Image courtesy of "The Business Times"

Estimates put Malaysia's economic expansion at 3.8% in 2023, missing forecast due to weak exports (The Business Times)

[KUALA LUMPUR] Malaysia's economic growth in 2023 is estimated to have expanded at a slower-than-expected pace due to lower exports. The country's gross domestic product (GDP) is projected to have grown by 3.4 per cent in the fourth quarter last year, ...

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Image courtesy of "The Business Times"

Malaysia's 2023 GDP growth estimated at 3.8%, missing forecast ... (The Business Times)

[KUALA LUMPUR] Malaysia's economic growth in 2023 is estimated to have expanded at a slower-than-expected pace due to lower exports.

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Image courtesy of "The Star Online"

Malaysia well-positioned to reap significant benefits from global ... (The Star Online)

KUALA LUMPUR: Malaysia is well-positioned to reap significant benefits from the opportunities arising from the global economic shift, said HSBC Bank ...

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Image courtesy of "The Edge Markets MY"

Upturn in global tech cycle to support Malaysia's export expansion in ... (The Edge Markets MY)

Malaysia's exports, which dropped much lower than anticipated in December 2023, is expected to get a boost from an anticipated upturn in the global ...

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Image courtesy of "New Straits Times Online"

Advance GDP estimate: Malaysia's economy grew 3.8pc in 2023 ... (New Straits Times Online)

KUALA LUMPUR: Malaysia missed its 4-5 per cent growth target for gross domestic product (GDP) in 2023, according to advance GDP estimates by the Department ...

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Image courtesy of "CNA"

IN FOCUS: Turning tides for Malaysia's fishing industry over climate ... (CNA)

KUALA LUMPUR: As Mr Chia Mui Seng removes a sheet covering his unused fishing nets, he discovers a huge colony of ants that has made a nest in them.

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Image courtesy of "Offshore Oil and Gas Magazine"

Jadestone assessing more drilling targets offshore Malaysia (Offshore Oil and Gas Magazine)

Jadestone Energy plans to step up production drilling offshore Peninsular Malaysia, while focusing on repair and maintenance work offshore Australia.

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Image courtesy of "New Straits Times Online"

Malaysia must not shy away from Antarctic research (New Straits Times Online)

MALAYSIA'S involvement in Antarctic research started in 1999, when Malaysian researchers under the auspices of the Malaysian Antarctic Research Programme ...

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Image courtesy of "The Star Online"

Malaysia's GDP growth set to accelerate to 4.6% in 2024 - RHB IB (The Star Online)

KUALA LUMPUR: RHB Investment Bank (RHBIB) has maintained its projection that Malaysia's gross domestic product (GDP) will grow by 4.6 per cent in 2024.

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Image courtesy of "The Star Online"

An island odyssey in Sabah: Diving deep into Malaysia's heart (The Star Online)

For this columnist, Sipadan's status as a biodiversity hotspot was more than just a claim – it was a vivid reality.

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Image courtesy of "The Edge Markets MY"

The Edge Malaysia Property Management Virtual Talk 2024: A ... (The Edge Markets MY)

It takes a holistic approach to managing a strata residential property successfully, which includes financial sustainability, regular maintenance, ...

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