Malaysia’s Retail Sales Rises By 13.8% in First Quarter of 2023
Malaysia’s retail sales for the first quarter of 2023 were 50 percent higher than estimated, with a recorded sales growth of 13.8 percent. This has been attributed to the Chinese New Year celebration in January and the 1-month school holiday in February and March. The Malaysia retail industry has been recovering since the end of […]
Maximise Export Potential with E-Commerce and FTAs
The pandemic has led to a sharp growth in the global e-commerce market, as consumers shifted towards online shopping due to lockdown and movement restrictions. Currently, Malaysia’s e-commerce market is valued at USD 4 billion, while Southeast Asia and China have a combined value of USD 1.6 trillion. As the global e-commerce market is expected […]
Double-Digit Growth in Exports to Major Markets
PETALING JAYA: Malaysia’s exports to all major markets, namely Asean, China, the United States, the European Union and Japan, recorded double-digit expansion in June. The strong exports turbo-boosted Malaysia’s total trade performance, which surpassed RM1 trillion in value in just the first six months of the year. According to the International Trade and Industry Ministry […]
SMEs Need New Ways to Rebuild Business in Covid-19 Era
KUALA LUMPUR: Malaysia’s 907,065 small and medium enterprises (SMEs) are living in very uncertain times — from day to day it seems almost impossible for them to predict what will come next. Publication Date: 25 July 2021 Businesses across the country have barely hung on after the arrival and persistence of COVID-19. In this regard, […]
Digital Adoption a Must to Reignite Export Sector
Bank Islam Malaysia Bhd director Datuk Nik Mohd Hasyudeen Yusoff said the development in technology has opened the avenue for export businesses and there are opportunities for small business players to be a part of it. Publication Date: 14 July 2021 KUALA LUMPUR: Small and medium enterprises (SMEs) must be able to leverage digital adoption to reignite […]
Export Business is being Lost due to Extreme Freight Rates
Drewry highlighted the issue of extreme freight rates -i.e. rates that are at least 50% higher than the historical average of the previous 5 years and that last at least 3 months (so as not to confuse them with freight rates, peak season, or one-time rates)- and predicted that spot rates would continue to rise. […]
EMCO Sharing and Dialogue Session with Chairman of FMM MAFMAG
The Malaysia Business Group organised an impromptu but necessary sharing and interactive dialogue session with the Chairman of FMM MAFMAG to address issues and concerns from the recent EMCO SOPs implementation. The more than an hour session scheduled at 4pm received an overwhelming response from various companies. The discussions include recent EMCO SOPs, Emergency Response […]
BNM Announces Enhancements to Covid-19 Facilities for SMEs
KUALA LUMPUR (July 2): Bank Negara Malaysia has allocated another RM2 billion for the Targeted Relief and Recovery Facility (TRRF) to provide relief for those in the services sector, bringing the total allocation for the facility to RM6 billion, as part of a list of enhancements to the Central Bank’s initiatives for SMEs In a […]