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Malaysia: January exports down, but above forecast

PETALING JAYA: Malaysia’s exports in January 2020 fell 1.5% to RM84.08bil from a year ago, but was better than the Bloomberg forecast of 1.6%, as trade was impacted by lower exports to China. The International Trade and Industry Ministry (Miti) said imports slipped 2.4% to RM72.08bil versus the survey of a 1.4% decline. Malaysia recorded […]

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Malaysia: Public Bank, RHB Bank and HLB revise rates

KUALA LUMPUR: Following MALAYAN BANKING BHD’s (Maybank) footsteps, three other major banks have also revised their base rate and base lending rate downwards by 25 basis points, in line with the reduction in the overnight policy rate by Bank Negara. They are Public Bank, RHB Bank and Hong Leong Bank. Maybank was the first bank in […]

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Malaysia: Exports expected to contract 5.1% in January

PETALING JAYA: Malaysia’s imports and exports are expected to have contracted by 6.6% and 5.1% respectively in January, resulting in a RM12.bil trade surplus for the month, said RAM Ratings. The rating agency said that this was largely due to seasonally subdued regional industrial activity during the lunar new year festivities. It said this was […]

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Malaysia: Weaker economy prompts rate cut

PETALING JAYA: Bank Negara Malaysia appears to have turned more cautious on the country’s economic outlook following its decision to slash the benchmark interest rate to the lowest level in nearly a decade. The central bank’s Monetary Policy Committee announced the reduction of the Overnight Policy Rate (OPR) to 2.5% from 2.75% earlier. The ceiling […]

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