KUALA LUMPUR, May 9 — Strong oil and gas and higher commodity prices will bolster the Malaysian government’s balance sheet, leading to more infrastructure investments, which will directly correlate with gross domestic product growth, said Juwai IQI group co-founder and group chief executive officer Kashif Ansari.
“We expect oil prices to remain high as demand is still very strong. This will be good for Malaysia. The International Energy Agency forecasts that global demand for crude oil in 2022 will surpass the levels of the past two years. He also said that palm oil accounts for 6.5 per cent of total exports, with March exports of palm oil and related agriculture products amounting to RM8.52 billion, 56 per cent higher than a year ago. Indonesia’s palm oil export ban will also help Malaysia to further increase its market share.
“We are buoyant about Malaysia’s economic outlook due to the commodities super cycle, which we expect to last at least the next six quarters,” said Kashif.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ringgit opens lower on strong US dollar demand | Malay MailKUALA LUMPUR, May 9 — The ringgit was traded easier against the US dollar in the early session today amid stronger demand for the greenback, said an analyst. At 9.05am, the local note was pegged at 4.3745/3780 versus the greenback from Friday’s close of 4.3650/3680. Bank Islam...
Source: malaymail - 🏆 1. / 86 Read more »
Moody’s sees Malaysia’s economy expanding 1.1pc in Q1 2022, OPR remaining at 1.75pc | Malay MailKUALA LUMPUR, May 9 — Moody’s Analytics projected that Malaysia’s economy had grown 1.1 per cent quarter-on-quarter in the first quarter of 2022 (Q1 2022), following the 6.6 per cent expansion in Q4 2021. It said the gains from a robust external position have largely extended...
Source: malaymail - 🏆 1. / 86 Read more »
Strong voter turnout in Philippines as Marcos targets presidency | Malay MailBATAC CITY (Philippines), May 9 — Philippine voters streamed to polling stations today, with the prospect of a once-unthinkable return to rule of a member of the Marcos family, 36 years after strongman Ferdinand Marcos wasousted in a “people power” uprising. The presidential election pits...
Source: malaymail - 🏆 1. / 86 Read more »
Jill Biden hails ‘amazingly strong’ Ukraine refugees in Romania | Malay MailBUCAREST, Romania, May 7 — US First Lady Jill Biden hailed the “amazingly strong” refugees from war-torn Ukraine as she visited neighbouring Romania today. “You are amazingly strong,” Biden said after listening to mothers and children recount how they fled Russia’s invasion of their...
Source: malaymail - 🏆 1. / 86 Read more »
Sea Games: Proud day for Malaysian contingent, says CDM Nur Azmi | Malay MailHANOI, May 8 — Chef de mission (CDM) Datuk Nur Azmi Ahmad has described today as a proud day for Malaysia at the 31st SEA Games in Hanoi following the flying start of the national diving camp in contributing two golds and one silver at the My Dinh Aquatic Centre here. He is optimistic that the...
Source: malaymail - 🏆 1. / 86 Read more »
Xi warms up China’s economy, but virus narrows options | Malay MailBEIJING, May 8 — President Xi Jinping has offered state backing for tech, infrastructure and jobs to revive China’s economy, but analysts warn growth will continue to wilt until Beijing drops its rigid virus controls. Two and a half years since the coronavirus first emerged in Wuhan, China is...
Source: malaymail - 🏆 1. / 86 Read more »