I am always positive with Malaysia. I meant our diversity of food. 🙂
Okay, for economy Malaysia, please do read what HSBC Group has to say. If you are not going to accept and prefers to read bad news, then skip this article lah. Remember whatever you believe take the appropriate actions. Do not just be a hypocrite in saying that it’s bad but kept buying undervalued stocks and then laughing all the way to the bank when the economy rebounds.
If you like to read an earlier assessment by Fitch Ratings, click here yeah: Economy Malaysia: Latest Review. Else read on for HSBC Group’s assessment. Oh yeah, HSBC is ranked 7th out of the top 100 largest banks by asset size in the world. (here’s the stats)
Article in themalaysianreserve.com HSBC Holdings plc co-head of Asian economics research, Frederic Neumann, said World Bank’s latest growth projection from 6% to 4.5% was just a temporary drag. He said, “The growth is sitting right now at 4.1% but we have forecast 5.4% growth for 2022 because we believe Malaysia can bounce back due to various reasons.”
Neumann said among the reasons includes the huge amounts of foreign investment into Malaysia and its unique position in capturing supply chains in South-East Asia. There is also the resilient manufacturing sector.
He said, “Malaysia is one of the world’s largest exporters of finished automotive chips and benefits from the current supply shortage. It’s biomedical (surgical gloves) and commodity sectors (palm oil and liquified natural gas) should see sustained volume growth this year” Please do read the article in full here: Article in themalaysianreserve.com
Vaccination will be the key to economic recovery
By the way, the below is one latest chart showing where Malaysia is versus the advanced nations for vaccinations. We have already leapfrogged countries like Australia, South Korea, Japan in total vaccinations and unless some special circumstances happen, by end August, we would be ahead of the US as well.
The reason is because they have barely moved versus 2 months ago when they reached 50% vaccinations for one dose for the population. Yes, this is all dependent on whether we get the vaccines on time which was one major reason why vaccinations were slow previously. Image source: https://ourworldindata.org/covid-vaccinations
No need to believe me on vaccination and economy. This is what International Monetary Fund (IMF) said. Happy reading about it too. Briefly, Covid-19 cases are NOT going to go away. However, when vaccinations reaches the herd immunity level, then the number of hospitalisations and death will be under control. That is what all the countries are aiming at. Singapore has even moved on to treat Covid-19 as endemic and no longer an epidemic. Hope you know the difference. by reading more in google yeah.
Briefly, we are not doing badly as per IMF… and Fitch Ratings and now HSBC. Not doing excellently either as vaccinations have yet to hit what we targeted. Cheers.
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