PUBLICATIONS
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June 17, 2021
On June 13, 2021, Malaysia Prime Minister Tan Sri Muhyiddin Yassin announced that the government will soon be introducing a National Recovery Plan to battle Covid-19. The draft of this plan could not be more timely as the country has had a year and a half of experience facing the pandemic. It is a move that is very much called for arising from the enforcement of several lockdowns, introduction of fiscal packages and roll out of vaccination programme by phases to get Malaysia back on its feet.
June 1, 2021
The pandemic has reduced economic activity, lowered incomes and increased unemployment for the vast majority of Malaysians and consequently, how much the government can realistically collect in tax revenues. Due to the mass uncertainties created by the pandemic, GDP and revenue projection becomes harder and more speculative the longer the COVID-19 virus and restrictive measures exist.
April 13, 2021
In a nutshell, while INSAP do agree that the economy will experience a rebound overall for the current year, BNM may have been over optimistic in quantifying the impact of the recent stimulus package on private sector spending, especially at a time when banks are more cautious surrounding their lending practices. INSAP Senior Economist Qarrem Kassim explains
March 08, 2021
The Malaysian economy registered a negative Real Gross Domestic Product (GDP) growth rate in the fourth quarter of 2020 (4Q2020), at -3.4% year on year (YoY), weaker than what many market analysts had expected. Indeed, this contraction marks a double dip in economic growth in the third and fourth quarters of the year despite a short spurt in recovery.
March 01, 2021
LETTERS: While Malaysia has made great strides in special education, much improvement is needed in terms of the correct care and attention for specific disabilities.
Therefore, the government must look into efficient methods of diagnosing, categorising, planning and the management of persons enrolled in special education.
For example, children diagnosed with cerebral palsy must have different methods of training and education compared with those diagnosed with autism.
Having a common method for all disabilities eliminates the chances of a quality education and puts persons with disabilities (PWDs) in a disadvantaged situation in the long term. The effects are compounded when children with disabilities grow up without the support of education and training.
February 17, 2021
For the third consecutive year, the ASEAN Studies Centre at the ISEAS-Yusof Ishak Institute conducted The State of Southeast Asia survey to capture the views and perspectives of opinion-makers, policy-makers, and thought-leaders in the region. This year’s survey was conducted from 18 November 2020 to 10 January 2021, and covers regional affairs and geo-political developments, including but not limited to current issues such as the COVID-19 pandemic. For the first time, three different language options were offered: English, Bahasa Indonesia and Vietnamese.
A total of 1,032 respondents from ten ASEAN member states participated in the online survey which drew from five categories of affiliation: (1) academia/ research, (2) business/finance, (3) government, (4) civil- society/non-governmental/media, and (5) regional/ international organisations.
While it is not meant to present the definitive Southeast Asian view of current affairs, the survey acts as a barometer of the general attitudes and perceptions of interested stakeholders on important regional developments. The State of Southeast Asia Survey has become a staple reference source in studies on Southeast Asia and ASEAN.
The survey has 7 sections: (1) Respondents’ Profile, (2) Regional Outlook and COVID-19, (3) Issues of Concern to ASEAN, (4) Regional Influence and Leadership, (5) ASEAN in the Middle, (6) Perceptions of Trust, and (7) Soft Power. The reporting of the questions and results has been re-organised for optimal flow and logic. The figures in this report have been rounded up or down to the nearest one decimal point.
February 10, 2021
A major factor in determining the health of the Malaysian economy in 2021 is the pace at which employment and incomes can recover from the prior year. Though the labour market has shown signs of recovery since the second and third quarters of 2020 as MCO measures were gradually loosened, improvements in the nominal employment rate had been insufficient to restore conditions back to pre-pandemic levels, given the massive decline in labour-intensive sectors such as tourism and retail which employed up to 23% of the total workforce prior to the pandemic.
February 08, 2021
数字经济与“一带一路”倡议的结合形成了“数字丝绸之路”的倡议理念1。早在 2013 年,中国国家主席习近平首次提出此概念倡议,并在 2017 年,“一带一路”国际合作 高峰论坛上,提出要坚持创新驱动发展,加强在数字经济、人工智能、纳米技术、量 子计算机等前沿领域合作,推动大数据、云计算、智慧城市建设,连接成 21 世纪的 “数字丝绸之路”2。复旦大学“数字一带一路”研究中心接着在 2018 年推出蓝皮书 中提出此倡议的三大重要意义。其一,通过“虚拟空间”打造来支持五大领域的互联 互通;其二,通过开放中国巨大市场,用轻资产方式促进沿线国家传统业转型,提高 创新就业;其三,整体利用中国已成型的数字有形资产与无形资产,主动优化产业布 局,形成区域经济利益共同基础。如今,“数字丝绸之路”有关项目在世界各地展 开,其中有名的是数字丝路国际科学计划 (DBAR) 、阿里云飞天技术的数字计算服务 等项目与数字化产品交易等项目。当前,阿里云在东南亚等地已建立了大约 15 个飞天 数据中心,而许多中国商品业通过电商平台销往俄罗斯、乌克兰、波兰、泰国、埃 及、沙特阿拉伯等 54 个沿线国家,同时,超过 50 个沿线国家的商品也通过电商走进 中国3。
February 08, 2021
中国早在 2013 年第一次对世界提出了“丝绸之路经济带”(一带一路)的当代经贸合作 倡议。在古代丝绸之路的概念基础上,中国以“共享经济”的理念连接了世界大半的区 域,包括东亚,中亚及西亚等国家,涵盖金融,交通,能源等多重要领域,形成“互联 互通“的世界大版图,并志在完成区域与世界一体化的伟大梦想。
数字经济在“一带一路”倡议里扮演重要组成的部分,随着第四次工业革命尤其数字经 济的快速发展,与其相关的数字技术以成为了世界经济成长的趋势与支撑,当中涵盖 了大数据,区块链,人工智能等技术的关键动力。数字经济发展与“一带一路”倡议的 结合形成了“数字丝绸之路”1。以此,我们可说“数字丝绸之路”是建立在“一带一路”理念 的基础上,并是与数字经济结合的新兴经济倡议。
January 27, 2021
Though the full details of the Permai package have yet to be provided, the bulk of the stimulus measures seem to be channelled through non-direct forms of intervention, such as an extension of the loan moratorium and the wage subsidy program. Despite this, the main focus of the stimulus package seems to be short-term in nature, looking to keep people float through the next few weeks as opposed to an economic “game changer” in national policy.
January 26, 2021
The rise of Islamism in Malaysian society in the early 1970s with the dakwah movement propelled by Anwar Ibrahim and the influence of the religion in Malaysian politics and government under then Prime Minister Mahathir Mohamed in the 1980s was another turning point for the MCA.
January 25, 2021
The Alliance and subsequently the Barisan Nasional (BN) formula was the magic political formula for a multi-ethnic and multi-religious people to co-exist – power sharing, mutual respect, and every ethnic represented at one or another level of government. An equilibrium and a balance of power among the coalition parties enabled every ethnic group in the country to have a voice in determining the course of the nation.
November 29, 2020
Despite the RCEP being two times larger than the CPTPP, its depth and scope is a quality far behind the
provisions of the CPTPP mainly due to the participation of ASEAN’s least-developed nations. It can be surmised
that RCEP is a wider but shallower pact while the CPTPP is a narrower but deeper longer-term agreement
November 29, 2020
It is no longer uncommon for “glass ceilings” to be acknowledged and addressed in the Malaysian workforce. In fact, Malaysians are realising the “dangers” of staying silent and have taken it in stride to talk about the “elephant in the room”. Inequality in the work place and the lack of women representation in senior management is prevalent, even today, across all industries. While there is genuine effort to question and change this unbalanced status quo in a number of fields of work, not much can be said about the adamantine glass ceiling in Malaysian political parties. Equal and rightful representation of women in Malaysian politics has been an uphill battle. The fact that “the 30%” still remains a distant reality year after year proves that political parties are yet to understand that they are still actively and consciously disregarding the talent and perspectives of one prominent sect of their organization.
November 26, 2020
By year 2050, Malaysia is projected to register an alarming urbanisation rate of between 85% to 90%, from a projected total population of 40.7 million. Kuala Lumpur, for example, is so dense that it has an approximately 32,909 persons per square kilometre in 2020 (DOSM). It is clear that our city centres face immaturity in anticipating the externalities that came about with rapid urbanization. As reported by the World Bank’s Malaysia Economic Monitor, our country sees stable economic outlook, but the downsides of socio-related risks are very much elevated. We have since passed the point of asking ourselves how did we get here. Rather, it is time to invest in viable solutions to contain this impending problem before it becomes worse in the future.
November 17, 2020
Worth a total of RM322.5bil, Budget 2021 is the largest budget in history, notably, the budget generally did not propose any new taxes nor increasing any existing taxes. The budget seems more a fit-for-purpose proposal which aims to meet the most immediate needs of the country to encourage recovery, growth and investment. As seen in the first half of 2020, the pandemic has created significant economic uncertainty which can change very rapidly, as such, flexibility is required when the need arises to supplement and amend measures when necessary.
November 7, 2020
On November 7, the major American news networks broadcast to the world what billions outside of America
wanted to hear: Joseph Robinette Biden Jr, the 2020 Democratic US Presidential candidate know to all as Joe
Biden, has been elected as the 46th President of the United States even as counting of votes were still ongoing. It
does not matter that counting of votes were still ongoing because Biden had garnered more than the 270
Electoral College voles to claim the Presidency. Across Asia, nations celebrated because Donald Trump, the
outgoing President who had used strong arm tactics in US bilateral trade negotiations with the region, is leaving
the White House. The man who put “America First” is gone. Most Asian nations are looking forward to the new
Biden administration as the breath of fresh air.
October 19, 2020
The COVID-19 pandemic has created radical uncertainty at all levels of government operations and policy. Policymakers are faced with difficult trade-offs between public health, economic and social interests and the challenges it raises. The regional and local impacts of COVID-19 are highly heterogenous, affecting states differently according to the local nuances of the individual states, creating a territorial dimension and significant implications for policy responses.
This report takes an in-depth look at the social, economic and fiscal impacts related to the COVID-19 crisis. The paper uses examples of good practice from both developed and developing economies to help mitigate the territorial effects of the crisis and offers several key takeaways on managing COVID-19’s economic impact, its implications on the government, financial and public investment level, as well as points for policymakers to consider as they build economic and social resiliency across all regions. Lastly, the paper provides recommendations and key insight on the long-term initiatives needed to strengthen Malaysia’s economic position in the wake of the COVID-19 crisis.
October 19, 2020
RECOMMENDED BUDGET INITIATIVES:
THE LONG ROAD TO RECOVERY
Impact of the COVID-19 Pandemic on Malaysia’s Economy
October 19, 2020
Based on the World Economic Forum’s Global Gender Gap Report 2020, Malaysia is placed at 104 globally, in a gender gap ranking for 153 countries. This can be attributed to our country’s employment policies and “social norms” which are not so women-friendly. The Gender Equality Bill, which seeks to level the economic playing field in Malaysia, is still in the process of being drafted after close to 2 decades of discussion and deliberation. The fact that a number of very “ideologically different” stakeholders are part of the drafting the GEA, has made it that much harder for such a law to be finalised, let alone be passed in Parliament. Gender equality even through a legal structure, which includes the highly sought after “equal pay for work of equal value” remains a distant reality.
October 14, 2020
Making up an estimated half of Malaysia’s electoral roll, women remain to this day, crucial determiners of who comes to power and stays in power. It is then curious as to why women’s issues and legislations that impact women persist as an uphill battle. In an increasingly “vocal” Malaysia, there is constant and consistent coverage of the many inherent woes that women in our country have. These grievances have been discussed, debated and deliberated time and time again, only to yield the absolute bare minimum in the form of aid, assistance or allocation. In a world that lauds women-led governance and strives for the protection of women, Malaysia is at risk of being left behind or termed “regressive”. It is the need of the hour to adopt a more gender-responsive political agenda that not only uplifts, but empowers women in the long run.
June 11, 2020
The gig economy is defined as a labour market characterised by the prevalence of shortterm contracts or freelance work done by individuals, although it is also loosely called freelance work. The popularity of gig jobs has increased in recent years as trends shifted from fixed work or employment to gig work whereby individuals work when needed for that task. Some of the reasons behind the emergence of this trend include; lack of other job opportunities, lack of faith in job security, desire for freedom in terms of flexible hours, and the advancement of technology such as mobile apps which has allowed business transactions to be conducted in a more efficient manner. Due to this it is mostly populated by the younger generation who are more attuned to the digital environment.
June 9, 2020
The issue of oil and gas rights in Sabah is a thorny one, with local Sabahans feeling that their local hydrocarbon resources are being exploited by Petronas without enjoying much economic opportunity or social benefit in return despite being the largest producer of hydrocarbons in the country. Therefore, anyone who wishes to improve Sabah’s economic conditions should be mindful of the negative local sentiments towards Petronas and should seek to maximize concessions from Petronas in the areas of local infrastructure, increasing social mobility and 12 better downstream economic opportunity where commercially viable. Although this may not undo decades of resource exploitation and poverty in the state, it would help to build a more stable economic foundation for future generations to recover.
June 7, 2020
As traditional retail involves the physical opening of a space or business premise (also known as brick and mortar type shops), and the need for visitors to physically enter to make transactions, restricted movements worldwide has caused a lot of disruptions. Now with the wide implementation of social distancing, the shifts in demands among sectors is very obvious, eg from physical to online, from regular purchases to health related products and so on.
June 4, 2020
A pandemic that causes world economies to halt highlights the shortcomings of workers’ rights in Malaysia. Many workers are facing retrenchment, salary cuts, revocations of job offers, and/or unpaid leave. The pandemic also shows the harsh conditions domestic and foreign workers often endure. Furthermore, social protection such as SOCSO, EIS, and EPF are only provided to workers in formal sectors whilst informal workers are at a risk.
June 2, 2020
The Covid-19 pandemic has affected the economic equilibrium of supply and demand. Businesses and consumers are expected to adapt to a “new normal” following a large-scale economic disruption from the
Movement Control Order (MCO). The pandemic has undoubtedly damaged the brick-and-mortar retail business as reported in the news and reports from retail association worldwide. However, the silver lining behind the negativity of the pandemic presents an opportunity for business with minimal human contact and online presence such as grocery deliveries, online learning, takeout food, video streaming and to the extent of closing real estate deals through online notaries.
June 2, 2020
The Covid-19 pandemic has brought the world to a standstill. Many estimates have been thrown around about the potential impact of Covid-19 pandemic on global and national economies, most views tend to agree that it will be very bad at this stage and tourism is clearly the worst hit of all major economic sectors. The severity largely depends on how long the pandemic will last, the level of social distancing restrictions on business, and the magnitude and effectiveness of government stimulus packages.
May 31, 2020
In Malaysia’s rapidly growing economy, increasing urbanisation and relatively low labour participation rate among women has continued to create a major demand for foreign labour. The Covid-19 pandemic has presented significant challenges to the government, societies, businesses and individuals.
May 29, 2020
As the coronavirus pandemic hit the Malaysian economy, it became clear that the most vulnerable household groups will come mostly from the B40, many of whom are unable to save enough to weather hard economic times.
May 27, 2020
In the midst of the Covid-19 pandemic, refugees face the same challenges as other migrant workers and have been detained, isolated and threatened to be sent home. There have also been mixed views on the handling of these illegal migrants by the authorities but in consideration of the rate of infection among clusters of migrant workers, the government must take stern action to contain the infection and take the opportunity to identify unregistered and illegal migrants in the country.
May 20, 2020
This report will highlight areas of focus needed for an added perspective to the challenges facing Malaysian SMEs, the performance of different sectors of the economy, what are the potential remedies and solutions available and where the focus of policy-making should be directed to.
May 20, 2020
Malaysia began its lockdown on March 18 with four extensions subsequently thereafter to end by June 9 at the time of writing. During this period, women rights groups raised concerns that women and children facing domestic violence and gender-based violence at homes will be more vulnerable in the lockdown.
May 9, 2020
This report will highlight areas of focus needed for an added perspective to the challenges facing Malaysian SMEs, the performance of different sectors of the economy, what are the potential remedies and solutions available and where the focus of policy-making should be directed to.
May 8, 2020
After the collapse of the Pakatan Harapan government and the resignation of Tun Dr Mahathir Mohamad in February 2020, the nation’s eighth Prime Minister, Tan Sri Muhyiddin Yassin is unlikely to announce any major changes in the conduct of the country’s foreign policy especially on the crisis in the South China Sea, for two obviously reasons. First, he is focused on consolidating political power and ensuring the newly-formed Perikatan Nasional coalition government survives. Second, the hallmark of Malaysian foreign policy has been one of “continuity” since the end of the Cold War.
May 5, 2020
The Novel Coronavirus (Covid-19) pandemic has sent shockwaves across food systems around the world. It has disrupted supply chains that are so vital in assuring food security in many countries. The virus has been plaguing countries across the globe for nearly five months now since an epidemic was reported in the central China city of Wuhan in January before the outbreak became a global health crisis in March 2020. Governments around the world, policymakers, organisations, networks, policy experts have begun to realise that Covid-19 is not just a health crisis, it could also lead to a food security crisis if proper measures are not taken.
May 5, 2020
The post-Covid 19 era will have an economy shaped by new habits & regulations based on reduced close-contact interaction and tighter travel & hygiene restrictions.
The current disruption will change how we eat, work, shop, exercise, manage our health, socialize, and spend our free time – at an unprecedented rate of change.
In this report we look at:
- Why our world will be very different
- 10 Examples of expected shifts in consumer behavior, and opportunities for businesses
- How different Industries are impacted
- What to do now
May 2, 2020
Malaysia is one of a handful of countries which had prepared for the eventual arrival of the Covid-19 outbreak, although in hindsight, many critics felt that we could have done more given the severity of the virus outbreak in China earlier in the year. Nevertheless, the government was right to invoke the Prevention and Control of Infectious Diseases Act 1988, Police Act 1967 and imposed a Movement Control Order (MCO) when there was a real concern of a spike of cases by mid-March and closed all schools and institutions of learning with immediate effect.
April 26, 2020
Malaysia currently hosts over 160,000 registered refugees and asylum seekers, with the majority coming from Myanmar. Malaysia has not ratified the 1951 Refugee Convention and therefore refugees and asylum seekers have no legal rights in Malaysia. The official position of the Malaysian Government is to categorize UNHCR registered refugees and asylum seekers as ‘illegal’ or ‘undocumented migrants’ and domestic law criminalises such migrants.
April 23, 2020
The global strategic war over energy is here, it is sending ripple effects through every sector of the economy. The smart money is positioning itself to take advantage.
April 24, 2020
The COVID-19 pandemic has already infected 1,356,780 people across 212 areas or territories reported by the World Health Organisation (WHO)1. It was estimated by some that between 40 and 70 per cent of the world’s population could become infected.2 The pandemic shocked many economies and affected the labour market – impacting not only supply (production of goods and services) but also demand (consumption and investment). Small and Medium Enterprises (SMEs) are obviously the hardest hit with business closures during Movement Control Order (MCO), cash flow disruption, and cancellation of orders. For employees, the most affected ones are those earning daily wages, or where their salaries are tied to work completed, and in worst cases, retrenched due to employers not able to sustain the downtime.
April 21, 2020
The Malaysian economy in the first half of 2020 will without a doubt be in dire straits, hit by a multitude of crises, from the COVID19 pandemic to the partial lockdown to the oil market crash. The domino effects stemming from what was originally a health crisis will be one never seen before in modern economic
history.
April 19, 2020
The MCO may have a more rippling effect on the community as the situation develops, however the government needs to take on the leadership role to guide the people on how to deal with the social changes that are happening very quickly. Basic necessities must be met if it wants to prevent the onslaught of crime which will bring more instability to the country. This crime is not just related to attempted theft or robbery from desperation, but also crime resulting from mental stress such as domestic abuse, racial slurs, and others as mentioned in this paper. Hence, the government needs to take these issues very seriously if it wants the country to get back on its feet post MCO.
April 18, 2020
The Malaysian government national debt is a subject of much debate, with proponents on both sides
claiming that their version of national debt reporting is correct. This report will attempt to uncover the
truths and fallacies of the national debt calculation and explore considerations of the political economy
involved behind this contested figure.
April 15, 2020
A global novel coronavirus which was first reported in Wuhan, China has now spread to over 170 countries, and resulted in more than 95,000 deaths at the time of writing. This global pandemic has caused one third of the world population to be in a full or a partial lock down situation. At present, many schools around the world are closed, supply chains are disrupted, frontline medical workers are working like never before, and the economy has almost come to a momentary pause.
April 15, 2020
Covid-19 is the ultimate test for the nation’s healthcare system
The Covid-19 pandemic that is sweeping across the world has exposed how underprepared our healthcare system in dealing with a national health emergency of this unprecedented magnitude.
April 10, 2020
The new SARS-COV-2 or COVID 19 Coronavirus has upended business as we know it and as the number of domestic infections rise, a Movement Control Order (MCO) was imposed devastating cashflows for all companies in Malaysia.
April 5, 2020
“It’s figuring us out faster than we’re figuring it out!” ujar watak Dr. Alex Hextall, seorang pakar virus menerusi filem Contagion pada 2011 yang mengisahkan bagaimana seorang wanita dijangkiti virus MEV-1 telah menyebabkan jangkitan pada skala besar sehingga mengakibatkan banyak negara diletakkan dalam situasi kuarantin.
March 31, 2020
“You can run but you can’t hide” could be the title of a song or a quote from American heavyweight boxer Joe Louis to his contender at the eve of a boxing match.
However during this Covid-19 season, this song or quote is in reference to all ages, gender or class. As someone correctly pointed out, even the young or rich are not spared from this Covid-19 scourge that is ruining life socially and economically.
March 2, 2020
Last week, OPEC and Russia had failed to agree on oil production cuts during their meeting in Vienna amid record low crude oil prices due to the recent coronavirus outbreak, thus ending the OPEC-Russia alliance. Russia instead balked at the idea of cutting oil production, sparking an all-out price war with the Saudis pledging to ramp up production to maximum capacity to 12 million barrels a day in a move to flood the market.
February 1, 2020
On the eve of the Chinese New Year celebrations, a new strain of virus known as the Novel Coronavirus (2019-nCoV) believed to have originated from a bat in the Hubei province stormed international headlines, triggering fears of a pandemic outbreak much like the SARS crisis of 2003. No less worrying was that the virus seemed to have appeared in Wuhan, the geo-demographic centre of Mainland China and a central transportation hub for hundreds of millions of Chinese citizens.