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KUALA LUMPUR (Feb 2): Malaysia's trade activity is expected to recover in 2021, with gross exports to grow 5.3% to 10.9%. CGS-CIMB’s economists Michelle Chia and Lim Yee Ping said Malaysia’s exports surged 10.8% year on year in December, exceeding both their and consensus’ forecasts, driven by robust external demand for semiconductors, healthcare supplies and palm oil. “Looking beyond the near-term risks to the economic outlook arising from MCO 2.0, we expect trade activity to recover, buoyed by a gradual reopening of the economy, vaccine deliveries, fiscal and monetary stimulus and p...

KUALA LUMPUR (Jan 19): Economists see less pressure for Bank Negara Malaysia (BNM) to cut its overnight policy rate (OPR) at the Monetary Policy Committee (MPC) meeting tomorrow — its first for the year, following the announcement on the RM15 billion Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI) assistance package by the government yesterday.   JP Morgan economist Milo Gunasinghe said in a note today that while the risk of a cut has increased, he expects the central bank to remain on hold this week given the relief measures announced, the short duration of movement control order (MCO...

KUALA LUMPUR (Dec 29): Economists have maintained their 2020 gross domestic product (GDP) growth forecasts for Malaysia after November exports fared better than the consensus estimate. Hong Leong Investment Bank Research's (HLIB) Felicia Ling and Goh Khing Mae said in a note today export growth picked up to 4.3% year-on-year (y-o-y) in November, faring better than the 3.1% y-o-y consensus estimate. “Growth was lifted by manufactured exports amid a decline in commodity-related exports,” they said. While downside risks continued to cloud the recovery in overall trade activity owing to the...