Plans by three of Malaysia's biggest lenders to merge into the country's largest bank conglomerate have thrown a spotlight on the health of the industry.
Malaysia
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Having learned the lessons of the 1997-98 financial crisis, Asia has since enjoyed a period of steady growth driven by consumption, investment and exports. The traditional model of low-cost manufacturing and exports to advanced markets has gradually been replaced with a more consumer-oriented and value-added approach.
Historically fragmented and often overlooked by emerging market investors, South-east Asia has become one of the leading destinations for FDI in recent years. The creation of ASEAN, South-east Asia’s unified economic and trade bloc, has encouraged regional cooperation and better connectivity.
The future of solar energy in Malaysia received a powerful boost on June 16 with the commissioning of the country’s largest solar power plant to date. The project’s operator, Malaysia-based Amcorp Group, awarded the production of the power plant’s solar panels to Chinese manufacturer Yingli Green Energy Holding Company. The project spans an area of almost 14 ha and will require some 40,000 photovoltaic (PV) units, which are estimated to produce 13.6m KWh of electricity annually.
A strong showing by Malaysia’s tourism industry in the first three months of the year may be offset by an expected drop-off in arrivals from China. But officials and travel bodies remain confident that any cooling in sentiment from the mainland will ease by the latter part of the year, giving the sector a lift in the final quarter.
Malaysia’s leadership is forging ahead with plans for entry to the US-led Trans-Pacific Partnership (TPP) despite domestic concerns that the multilateral trade agreement will negatively impact some domestic sectors and international concerns over delays in its progress.