Money & Finance

Malaysia and Singapore are emerging as key regional centers for green and sustainable finance. A recent report by the Climate Bonds Initiative, supported by HSBC, reveals the ASEAN sustainable finance market's resilience, with Malaysia's green bond and Sukuk market reaching US $2.6 billion and 15 sustainable financial arrangements.

Pharmaniaga announced plans to supply Sinovac COVID-19 vaccines to state governments and private sectors. The company aims to support national immunity goals and economic recovery, with Group Managing Director Datuk Zulkarnain Md Eusope focusing on collaboration with government-linked companies, private firms, and local experts.

Luno Malaysia has recorded approximately US$1 billion in cryptocurrency transactions this year, marking significant growth from US$300 million in 2020. Country manager Aaron Tang suggests cryptocurrency adoption is still in early stages, with only 2.5% of global population owning digital assets as investments and inflation hedges.

The Malaysian labour market experiences pressure due to ongoing lockdowns. Despite the unemployment rate improving to 4.6% in April 2021, economists warn of potential future increases. Manufacturing sectors continue operating at reduced capacity, navigating supply chain disruptions and business constraints while following strict standard operating procedures.

Malaysia's Ministry of Finance plans to implement fully cashless payments for government services by 2022. Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz aims to improve transaction safety, governance, and reduce potential fraud through digital payment strategies under the MyDigital initiative.

Despite ongoing COVID-19 restrictions and record infection rates, Malaysia continues to attract foreign direct investment. Economists like Lee Heng Guie suggest that while current shutdowns may impact investor sentiment, the country's medium-term economic prospects remain promising.

The global semiconductor chip shortage is severely affecting automakers, leading to reduced production and higher prices. Caused by increased demand for electronics during the COVID-19 pandemic and disrupted by natural disasters, experts predict the shortage will continue into 2022.

Serba Dinamik Holdings is under scrutiny after its auditor KPMG raised concerns about verifying contracts with 11 customers. Major shareholders like PNB and EPF are worried, and the company plans to appoint an independent firm to review the contract issues while the securities management investigates.

Malaysia's trade performance surged in April 2021, with exports reaching RM 105.6 billion, representing a 63% year-on-year increase. The Department of Statistics reported a trade surplus of RM 20.5 billion, driven primarily by strong domestic exports.

After being outbid by DNeX for SilTerra Malaysia in February, Foxconn is now in preliminary discussions to acquire a minority stake in the Malaysian chipmaker. Sources suggest the negotiations are ongoing but not yet finalized, with potential for collaboration in semiconductor expansion.