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April 30, 2017

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Business > Asia > Malaysia
Unpopular tax hands fresh ammo to Malaysia PM's foes
An unpopular new consumption tax has handed fresh ammunition to critics of Malaysia's embattled prime minister, with angry consumers complaining it has sent some prices surging, and economists warning it could harm growth.
 
Malaysia is the leading supplier of medical equipment among the 56-member Organisation of Islamic Cooperation (OIC).
 
Malaysia trimmed its 2015 growth forecast Tuesday and said the fiscal deficit would be bigger than expected after the sharp fall in oil prices hit the petroleum-exporting nation's economic plans.
 
MARC Rating foresees a downward trend in Malaysia's headline gross domestic product (GDP) growth in 2015 to 4.7 percent, which is lower than the government's projection of 5 percent to 6 percent during Budget 2015.
 
Tracking the flow of global investment funds is a tricky business. But the ringgit's recent sharp depreciation against the U.S. dollar has led to suggestions by some economists that as much as 70 billion ringgit (US$20.09 billion) stands to flow out of the country.
 
Despite being a partner in a law firm just outside Kuala Lumpur, Ms. Puteri Mohamad, and her fiance, can only watch as apartments in the area where she lives spiral above 500,000 ringgit (US$153,334).
 
Malaysia economy surges in second quarter
Malaysia's economy grew a better-than-expected 6.4 percent in the second quarter on the back of stronger exports and robust domestic demand, the central bank said Friday.
 
The Malaysia-Singapore high-speed rail (HSR) is a mega project that not only symbolizes the warming of ties between Malaysia and Singapore, but also the increased economic links between the two countries.
 
Shops at a Johor mall popular with Singaporeans experienced a significant dip in business Saturday, a day after tolls went up on the Malaysian side of the Causeway.
 
Hot money is flowing back into Asian economies driven by investors' appetite for risky assets and higher returns, as tension in the Ukraine subsides while the prospects of a slowdown in China raise hope for fresh stimulus.
 
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