This site uses technical, analytics and third-party cookies.
By continuing to browse, you accept the use of cookies.

Preferences cookies

Malaysia: Government launches economic support plan

The government of Malaysia has launched an economic support plan valued at approximately 28 billion ringgit. The short- and medium-term measures planned are aimed at addressing the negative effects of a drop in demand from China, the low price of petroleum and palm oil and the devaluation of the ringgit, with the goal of shielding the economy from external shocks through capital market initiatives, tourism and the sector of small and medium-sized enterprises. Some of the measures announced included: a plan for fiscal stimulation in the infrastructure sector, a policy aimed at fostering private investments in local currency and limitations on State companies and corporations’ foreign investments in such as way as to investments in local markets. With regard to capital markets, the government plans to reactivate the Valuecap instrument used back in 2002 to underpin some quoted stocks, with a dedicated fund of approximately 20 billion ringgit.