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Moody’s keeps Malaysia’s A3 stable credit profile

KUALA LUMPUR: Moody’s Investors Service has maintained Malaysia’s A3 stable credit profile, which is underpinned by its diversified, competitive and moderately large economy, ample natural resources and strong medium-term growth prospects. The large pool of domestic savings also supports the high government debt burden and lowers liquidity risk, the credit rating agency said in a […]

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IMF: Thailand has monetary scope to help economy

BANGKOK: Thailand has room for further monetary easing to support its economic recovery, which is expected to be slow, uneven and clouded by the unknown path of the coronavirus pandemic, the International Monetary Fund (IMF) said. The tourism-reliant economy contracted 6.1% last year, its deepest slump in over two decades, with tourism devastated by the […]

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Thailand: Ministry rejigs mid-term fiscal plan

The Finance Ministry is set to adjust its mid-term fiscal plan following the government’s implementation of the 500-billion-baht borrowing decree, said a ministry source who requested anonymity. The source said the revision is in line with the likelihood of lower government revenue this fiscal year. This mid-term plan, which covers 2022-2025, was approved by the […]

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Cambodia: Banks to play bigger role in insurance sector

Bancassurance, or the offering of insurance products through financial institutions and banks, is expected to play an ever-increasing role in the emerging insurance sector in Cambodia, according to a group of financial executives who met virtually on Thursday. The Association of Banks in Cambodia (ABC), the Cambodia Microfinance Association (CMA) and the Insurance Association of […]

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Thailand: SCB eager to usher in digital transformation

Siam Commercial Bank (SCB) is planning new business strategies under what it calls the three generations of financial services, in preparation for a changing banking landscape in the post-Covid era. SCB, Thailand’s oldest bank and fourth largest lender by total assets, strengthened its infrastructure base in all areas because of the pandemic. The bank aims […]

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