Fixed-Income Views

Malaysia’s export growth strengthened further to 45.3% in May (Apr: 37.3%), marking a second consecutive month of double-digit expansion. Growth continued to be underpinned by the global semiconductor upcycle and strong demand for AI-related technologies, which drove electrical and electronics (E&E) exports higher by 70.5% (Apr: 46.6%). Trade activity also continued to benefit from supply […]

Malaysia’s gross domestic product growth remains well supported by both domestic and external demand, providing a strong buffer against near-term uncertainties. Although a marginal slowdown in private sector activity and exports of goods and services moderated 1Q2026 growth to 5.4% (4Q2025: 6.2%), underlying domestic demand remains resilient. Private consumption was supported by festive spending and

MARC Ratings today published its 2025 Annual Corporate Default and Ratings Transition Study, which tracks corporate ratings assigned by the rating agency since its inception in 1996 through 2025. In 2025, MARC Ratings’ corporate portfolio maintained its record of zero defaults, marking the third consecutive year without any defaults. This reflects MARC Ratings’ portfolio strength,

Malaysia entered 2026 on a firm footing, with advance estimates placing 1Q2026 gross domestic product (GDP) growth at 5.3% (1Q2025: 4.4%; 4Q2025: 6.3%), supported by resilient domestic demand and a sustained manufacturing upcycle. Services expanded by 5.4%, underpinned by consumer spending, while manufacturing accelerated to 5.8% on continued strength in the electrical and electronics (E&E)

The ongoing conflict in the Middle East has led to spillover effects beyond oil price fluctuations, increasing pressure on global supply chains. In March, Brent crude oil prices surged to approximately USD99 per barrel, a significant rise compared to the average of USD69 per barrel recorded in February. Disruptions at the Strait of Hormuz, a

Malaysia’s economy closed 2025 on a strong note, with 4Q2025 gross domestic product (GDP) growing by 6.3%, surpassing the advance estimate of 5.7% (3Q2025 actual: 5.4%). This lifted the full-year growth in 2025 to 5.2%, matching 2024’s pace (2024: 5.1%). Moving into 2026, economic momentum is underpinned by firmer external demand and steady private consumption.

Malaysia ended 2025 on a strong footing, with its 4Q2025 gross domestic product (GDP) advance estimate rising by 5.7%, bringing full-year growth to an estimated 4.9%, above consensus expectations. Growth in 4Q2025 was broad-based, led by services (5.4%; 3Q2025: 5.0%) and manufacturing (6.0%; 3Q2025: 4.1%) due to strong external demand for electrical and electronic (E&E)

Malaysia’s external sector remains on a firm trajectory, with exports expanding by 7.0% in November (Oct: 15.7%). Growth was supported by resilient demand for electrical and electronic (E&E) products at 15.0% (Oct: 26.5%) alongside a recovery in petroleum exports. Performance among trading partners also remained robust, with shipments to China accelerating to 9.3% (Oct: 7.5%),

Malaysia’s full-year gross domestic product (GDP) growth is on track to reach the upper end of Bank Negara Malaysia’s (BNM) projection of 4.0%–4.8%, supported by stronger 3Q2025 GDP which expanded by 5.2% after two consecutive quarters of registering a 4.4% growth. Reflecting this acceleration, market consensus has revised its 2025 GDP growth forecast upwards to

Malaysia is poised for stronger 3Q2025 growth, with advance estimates pointing to a 5.2% gross domestic product (GDP) growth, above the 4.2% consensus. The services sector held steady at 5.1% (2Q2025: 5.1%) on resilient household spending and retail activity, while manufacturing accelerated to 4.0% (2Q2025: 3.7%). The mining sector, having weighed on growth earlier in