KUALA LUMPUR: Malaysia’s outlook is tentatively optimistic because the home economic system has largely reopened and restrictions are unlikely to be reinstated regardless of the Omicron wave, Moody’s Analytics stated.
In its Asia Pacific Economic Preview word at this time, it stated geopolitical tendencies had been working in Malaysia’s favour.
“Ukraine exports extra of the world’s sunflower oil, and importers are different edible oils reminiscent of palm oil to make up for the squeeze in provide.
“As the world’s second largest producer of palm oil, Malaysia will profit from the uptick in costs, particularly if it manages to ease its labour scarcity,” it stated.
Moody’s Analytics famous that the semiconductor sector, which was already affected by a scarcity, was going through an extra setback as essential supplies had been exported primarily by Russia and Ukraine.
It stated Malaysia has been benefitting from the elevated world demand for its electrical exports and would prone to be insulated from the scarcity due to its stockpile of uncooked supplies. – Bernama