The new renamed survey – ACCCIM Malaysia’s Business and Economic Conditions Survey (M-BECS) was conducted from January to mid-March 2019, covering the period for the second half-year of 2018 (Jul-Dec 2018) and the forecast for the first half-year of 2019 (Jan-Jun 2019) has an overall response rate of 66.3% receiving 1,027 questionnaire forms.

The survey is a good barometer to gauge Malaysian Chinese business community’s assessment and expectations about domestic business and economic conditions as well as their prospects.

It covers questions to measure expectations about the prospects of economic and business performance; the main factors affecting business performance; and to gauge the implications of current issues and challenges faced by businesses.

This survey report is collaborated with and prepared by Socio-Economic Research Centre (SERC).

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• Bank Negara Malaysia expects the MALAYSIAN ECONOMY to grow by 4.3-4.8% (mid-point at 4.7%) in 2019 (4.7% in 2018). This is in line with our estimate of 4.5-4.7%.
• DOMESTIC DEMAND will continue to be the anchor of growth, underpinned by private sector activity as public sector continues to consolidate spending. Both private consumption and investment are expected to grow decently in 2019 while public investment will contract sharply due mainly to the completion of major projects and continued rationalization of spending.
• ALL ECONOMIC SECTORS are forecasted to expand, albeit mixed growth in 2019. The services and manufacturing sectors will continue to be the key drivers of overall growth. Both the mining and agriculture sectors are expected to rebound on recovery in production as the supply-induced shocks and disruptions receded.
• HEADLINE INFLATION is projected to average between 0.7-1.7% in 2019 (1.0% in 2018), due mainly to some pass-through of domestic cost factors (the lapsing of consumption tax, increase in minimum wage, electricity surcharge on businesses) amid the moderating effect from stable fuel prices.
• OVERALL ECONOMIC OUTLOOK could see UPSIDE RISKS coming from stronger than expected global growth, which bodes well for exports, investment and income of export-oriented industries, including the expansion of production capacities of some industries. The DOWNSIDE RISKS are rising trade tensions among major trading nations; abrupt shifts in global monetary and regulatory policies; sharp corrections in financial markets would weigh on confidence and economic activity.

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IDFR-IIUM's Seminar on "Malaysia-China Trade & Investment: Challenges, Opportunities & The Way Forward"

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