EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Monday, March 20, 2023
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

EDITIONS:

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm asncommerce mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

Malaysia: Approved investment totals RM65bn in 1H20

by moneycompass
October 5, 2020
in Local Market News
investment, 1H20
Share on FacebookShare on WhatsApp

Malaysia ‘s total approved investment in the primary, manufacturing, and services sectors recorded MYR64.8bn in 1H20, which is – 38.4% lower compared to the same period a year ago amid the COVID-19 outbreak. These investments involved 1,725 projects and are expected to create 37,110 employment opportunities in Malaysia over the next few years.

Of the total investments approved, approximately 69.8% or RM45.3bn were domestic investments (DDI) while the remaining 30.2% or RM19.5bn were foreign investments (FDI). Manufacturing investment approvals overtook services investment approvals for the first time since 2010, while primary investment approvals hit a record low.

Manufacturing sector recorded a total of RM35.7bn in approved investment in 1H20, which was -3.0% lower than the RM36.8bn in 1H19. However domestic investment posted a substantial jump by almost 80%  (at 79.8% ) to RM17.9bn, which made up 50.1% of total manufacturing investment approvals.

More than two-thirds of overall manufacturing investments in 1H20 ( 69.3% or RM24.7bn) were new greenfield projects, against capital expansion projects’ (30.7% or MYR11.0).

Key focused sub-sectors included petroleum refineries & products, machinery manufacturing, E&E products, food manufacturing, and scientific & measuring equipment. Sabah, Penang, Johor, Selangor, and Terengganu were top five states garnering the most manufacturing investment.

Approved investment in the services sector dropped -54.1%  to RM28.6bn ( RM62.4bn in 1H19). Local investments fell -32.4%  to RM27.0bn while overseas investments declined -92.6% y/y to RM1.6bn. As such, approved foreign investment accounted for 5.8% of total approved investment in the services sector against local investment’s 94.2% share in 1H20.

The support services industry under the purview of MIDA covered sub-sectors such as integrated logistics, research and development, green technology, integrated circuit design, oil and gas services and licenced warehouse.

In 1H20, approved investments in the support services industry saw an increase of 18.5% due to the surge of projects in the integrated logistics services and green technology sub-sectors that strengthened by 172.1% and 7.0% respectively. In addition to providing over 3,249 new jobs, these investments will also create spin-off benefits for other local businesses, further strengthening Malaysia’s industrial network.

Finance Minister Tengku Zafrul said that the government is working on its Budget 2021 and the 12th Malaysia Plan that will look at being more investor-friendly. The government announced several tax incentives in the PENJANA economic stimulus plan to attract FDIs.

Despite the ongoing pandemic effects and downside risks to the global and Malaysia economic outlook, year-to-date investment approvals represented 61.8% of Malaysia’s full-year approved investment during 2009 GFC and have already hit 64.8% of our 2020 full-year target of RM100bn (2019: RM211.4bn).

The Project Acceleration and Coordination Unit (PACU) has been established in MIDA to facilitate the approval of businesses particularly manufacturing and related services and to ensure that the implementation of approved projects is successful within 24 months.

 

Written by: Julia Goh, Senior Economist, UOB & Loke Siew Ting, Economist, UOB

 

Read more: Bursa Malaysia announces 1H2020 profit after tax and minority interest at RM151.0mil, increased by 62%

Tags: 1H20Economyinvestment
ShareSendShareSendTweetShare
Previous Post

Best solution to secure SMEs’ assets during the pandemic

Next Post

Xfers Announces the Public Release of Singapore-dollar Stablecoin XSGD on Its Platform

Related Posts

Loh Guat Lan, President of LIAM
Local Market News

Life Insurers Offer Relief Measures to Assist Flood Victims

08 Mar 2023
Bursa Malaysia
Current News

Bursa Malaysia enhances Islamic securities

10 Feb 2023
Corporate News

JCorp Officially Launches JLand Group (JLG) to Capture Opportunities in New Economy Real Estate

18 Jan 2023

Discussion about this post

MOST POPULAR

  • Top 100 SMEs Defy Economic Headwinds to Post Triple-Digit Growth

    0 shares
    Share 0 Tweet 0
  • 10 Ways to Curb Overspending

    1 shares
    Share 0 Tweet 0
  • Wialon Telematics Platform Reaches 3.5 Million Connected Vehicles Worldwide

    0 shares
    Share 0 Tweet 0
  • A Fintech Leader, Perfios Wins the ASEAN-India Business Achievement Award 2023

    0 shares
    Share 0 Tweet 0
  • ETANA HAS SECURED FINANCING FROM DEG, EAST VENTURES AND OTHER GLOBAL INVESTORS

    0 shares
    Share 0 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

Career

SUBSCRIBE FREE NEWSLETTER