EXACTLY a year ago, there were whispers swirling that a lockdown would soon be imposed on the country, owing to the rising number of Covid-19 infections. Supermarket shelves were quickly emptied of daily necessities such as rice, eggs, tinned food and cooking oil.
Then on March 18, 2020, the first Movement Control Order (MCO) was imposed and there was much uncertainty among the public and business community over what would happen next.
One year on, the SARS-CoV-2 virus has taken 1,177 lives and infected 314,989 people in the country (as at March 10). Despite the grim circumstances, many see light at the end of the tunnel as Malaysia rolls out its National Covid-19 Immunisation Programme (NCIP).
THE recent uptrend in crude oil prices seems to suggest that the commodity is staging a comeback. Since breaching the US$50 per barrel mark in early December last year, Brent crude has continued to climb steadily amid the continued uncertainty surrounding the virus.
On Feb 8, Brent crude climbed above US$60 a barrel for the first time in a year.
The rise in oil prices has been linked to several factors. One is undeniably propped up by the Covid-19 vaccine breakthrough last year, renewing optimism about fuel consumption, while colder winters have also helped push up prices, especially for liquefied natural gas (LNG).
2021-02-11 09:05:46 GMT2021-02-11 17:05:46(Beijing Time) Xinhua English
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KUALA LUMPUR, Feb. 11 (Xinhua) Malaysia s gross domestic product (GDP) contracted 3.4 percent year-on-year in the fourth quarter of last year, rendering a 5.6-percent GDP drop for 2020, the biggest decline since 1998.
The Malaysian Central Bank said in a statement on Thursday that the negative growth in Q4 was largely attributable to the imposition of the Conditional Movement Control Order (CMCO) on a number of states since mid-October last year to contain the spread of the COVID-19 pandemic. The restrictions on mobility, especially on inter-district and inter-state travel, weighed on economic activity during the fourth quarter, said the central bank, despite the fact that continued improvement in external demand provided support to growth.
Lee Heng Guie SERCSERC executive director Lee Heng Guie said how quickly and efficiently Malaysia can contain the virus within the first half of 2021 will be a key determining factor.
PETALING JAYA: The Socio-Economic Research Centre (SERC) forecasts Malaysia’s gross domestic product (GDP) to grow between 4% and 6% this year, with the efficacy of the vaccine rollout and containment of the Covid-19 infection poised to play a critical role in economic recovery.
SERC executive director Lee Heng Guie said how quickly and efficiently Malaysia can contain the virus within the first half of 2021 will be a key determining factor.
“It really depends on how we perform in the first quarter or even the first half of this year. That will be key on whether we can meet our full-year GDP target, ” he said in a virtual briefing titled “Malaysia’s Quarterly Economy Tracker (October to December 2020) and 2021 Outlook.”
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Malaysia must cut red tape to ease domestic and foreign investments if it wants to stay ahead, says SERC. – EPA pic, February 4, 2021.
MALAYSIA must speed up its reforms and competitiveness to avoid being left behind in Asean in terms of investments, said the Socio-Economic Research Centre (SERC).
SERC executive director Lee Heng Guie said today: “2021 is a redefining year for Malaysia where it has to make bold and decisive reforms to improve its economic resilience.”
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