Key View

• Malaysia's deepwater explorations are expected to accelerate as more investments are directed towards underexplored areas.
• International oil companies (IOCs) will continue to be crucial for Malaysia's deepwater success.
• Malaysia could experience a significant increase in exploration expenditures in 2024 as IOCs prepare

Key View

• Malaysia’s medical device sales will expand over the medium term, supported by growing health spending and ambitions to increase domestic production.
• Despite efforts to increase domestic production, Malaysia will continue to rely heavily on imported orthopaedic and dental products.
• Malaysia’s growing position as a leading medical tourism

Key View

• We hold a negative view on the realisation of the proposed Kuala Lumpur-Singapore High Speed Rail line, despite strong investor interest, and thus refrain from including it in our Malaysia rail infrastructure forecast.
• Although considerable investor interest and a strong use case bodes well for the rail line, the lack of public

Key View

• Malaysia’s upstream sector is poised for further growth in 2024 as the government continues to promote offshore blocks for exploration.
• Petronas made a good start to 2024, securing seven production sharing contracts (PSCs).
• Petronas launched the Malaysia Bid Round 2024 (MBR 2024), offering five exploration blocks and five Discovered

Key View

• The Malaysian economy underperformed our 3.9% growth forecast for 2023, expanding by a modest 3.7%, indicating a softer growth momentum than initially expected. 
• While we anticipate that the recovery in the coming quarters will be uneven amid tepid global demand, resilient investment activity and a tight labour market should boost

Key View

• Malaysia’s medical devices market will record high-single digit growth over our five-year forecast period, driven by factors including strong government support for medical devices and healthcare sectors, medical tourism and an ageing population.
• Malaysia’s 2024 health budget will support medical devices market growth by focusing on

The Latest: On January 4 2023, Roche achieved a significant milestone by initiating its pioneering first-in-human (FIH) clinical trials for a rheumatology indication in Malaysia. This marks Malaysia as the first market within the Asia-Pacific region to participate in such studies and positions Malaysia as the seventh global participant in Roche's

Key View

• We forecast Malaysia’s current account surplus to widen from an estimated 2.1% of GDP in 2023 to 2.6% in 2024.
• Slowing global demand will continue to weigh on Malaysia’s goods trade balance although we foresee exports bottoming out around the middle of 2024.
• Meanwhile, we expect that the recovery in inbound tourism will be sustained

Key View

• Malaysia’s upstream sector is gathering momentum as investors commit to exploration and production investments.
• New PSCs are providing the impetus for increased investments in Malaysia’s upstream exploration and production.
• Accelerated upstream exploration efforts are contributing to new discoveries and reserves.
• The outlook for

Key View

•  Malaysia’s real GDP growth accelerated from 2.9% y-o-y in Q223 to 3.3% in Q323, coming in above consensus estimates but below our forecasts.
• We expect the economic recovery over the coming quarters to be gradual due to the ongoing impact of weakening global demand and restrictive monetary conditions.
• Overall, we have revised lower