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Malaysia: 13.7 million workers vulnerable

KUALA LUMPUR: About 13.7 million Malaysians are still not covered by any form of social security protection, says Datuk Seri Dr Wan Azizah Wan Ismail. The Deputy Prime Minister said the figure was alarming and the situation needed to be addressed. According to the January 2018 data of the Statistics Department, the country has 15.19 […]

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Malaysia: Government’s hands tied on house prices

KUALA LUMPUR: The government’s hands are tied as far as house prices are concerned. Finance Minister Lim Guan Eng said the government can only help reduce the cost of developing houses through measures such as the exemption from the Sales and Service Tax (SST). However, the price of land, which is an integral component of developments, is out of […]

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Malaysia: Asset deterioration remains a risk to Malaysian banks

PETALING JAYA: While Malaysian banks are generally strong enough to withstand any potential shocks, they still need to be cautious on the risks of asset deterioration. According to analysts, banks in the country remain exposed to a potential increase in gross impaired loans (GIL) and credit costs that could weigh on their earnings growth. CIMB Research, for one, has projected that the industry’s GIL would […]

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Malaysia: Ringgit snaps 3-day losing streak to go higher against US$ on rising oil price

KUALA LUMPUR: The ringgit snapped its three-day losing streak to open higher against the US dollar early Thursday amid rising oil prices, a dealer said. At 9 am (0100 gmt), the local currency stood at 4.1380/1420 against 4.1390/1430 recorded at 6 pm Wednesday.  A dealer said sentiment in the market was positive after the US Federal Reserve raised interest rates by […]

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Malaysia: Higher budget deficit seen

KUALA LUMPUR: The budget deficit target for 2019 could be raised to 3% of gross domestic product (GDP) from the targeted 2.8% this year, Socio-Economic Research Centre’s (SERC) executive director Lee Heng Guie (pic) says. “I believe the deficit will be at a slightly higher level than the 2.8% mainly due to the lower revenue […]

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