Malaysia: April 2018 trade

6 June, 2018
By Michelle Chia, Economist, CIMB Research and Economic and Lim Yee Ping, Economist, CIMB Research

HIGHLIGHTS April 2018 trade Malaysia’s trade surplus remained strong at RM13.1bn in April, aided by pronounced gains in petroleum and manufacturing exports. Key risks to the trade outlook are slowing tailwinds in the global

Indonesia: May 2018 Bank Indonesia meeting

25 May, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS May 2018 Bank Indonesia meeting Bank Indonesia (BI) raised its 7-day Reverse Repo Rate by 25bp to 4.50% and left the door open for further policy rate adjustments. The rate hike cycles in

Malaysia: First election promise delivered as GST struck down

22 May, 2018
By Michelle Chia, Economist, CIMB Research and Economic and Lim Yee Ping, Economist, CIMB Research

HIGHLIGHTS First election promise delivered as GST struck down The government will reduce the GST from 6% to 0% effective 1 Jun 2018. Sparse details on budget-balancing measures may spook markets as we estimate

Malaysia: 1Q18 GDP and current account

21 May, 2018
By Michelle Chia, Economist, CIMB Research and Economic and Lim Yee Ping, Economist, CIMB Research

HIGHLIGHTS 1Q18 GDP and current account Malaysia’s economy expanded by 5.4% yoy in 1Q18 (+5.9% yoy in 4Q17), on the back of weaker growth in government consumption and investments. The policy environment has altered

Indonesia: April 2018 CPI inflation

7 May, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS April 2018 CPI inflation Headline inflation was stable at 3.4% yoy in April, a tad above our expectation but lower than market consensus. The stable reading was aided by balancing forces between volatile

Indonesia: 1Q18 direct investments

4 May, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS 1Q18 direct investments Direct investments (DI) rose 10.5% yoy to US$13.8bn in 1Q18, led by FDI (+11.5% yoy to US$8.1bn) and followed by DDI (+9.1% yoy to US$5.6bn). The key growth driver was

Singapore: March 2018 industrial production

27 April, 2018
By Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS March 2018 industrial production IPI growth eased to 5.9% yoy in March, shy of our forecast due to disappointments in semiconductor and pharmaceutical production. The pharmaceutical sector saw unusually large revisions in its

Indonesia: April 2018 Bank Indonesia meeting

23 April, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS April 2018 Bank Indonesia meeting Bank Indonesia (BI) maintained its 7-day Reverse Repo Rate at 4.25%, as widely expected. The central bank has turned more cautious about external uncertainties and the impact on

Indonesia: 3M18 fiscal realisation

20 April, 2018
By Lim Yee Ping, Economist, CIMB Research and Economics and Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS 3M18 fiscal realisation Indonesia’s fiscal deficit was lower yoy at -0.58% of GDP in 3M18, boosted by higher tax and non-tax revenue collection. Greater tax compliance raised non-O&G income tax revenue whereas improving

Singapore: March 2018 trade

18 April, 2018
By Michelle Chia, Economist, CIMB Research and Economic

HIGHLIGHTS March 2018 trade The contraction in non-oil domestic exports (NODX) tapered in Mar (-2.7% yoy) due to shallower declines in electronics and non-electronics shipments. Export momentum is likely to accelerate in April, as