NEWS HIGHLIGHTS

• MyEG’s Philippine unit partners state social insurance programme to facilitate online payment

• MRCB undertakes demolition works of Shah Alam Stadium for RM35 mil

• SNS Network bagged geographical information system contract from Esri

• KNM receives new offer to acquire Italian unit for 16.5 mil euros

• BHIC's disposal of stake in Boustead Naval Shipyard for RM1 to MOF gets fifth extension to fulfil conditions

MACRO BITS

• China urges US to lift ‘illegal’ sanctions, ease travel concerns Growth slows in 4Q23 on weak global demand; overall 2023 growth moderated (See Economic Viewpoint: Malaysia 4Q23 GDP)

• CA surplus narrowed to lowest on record while financial account reverted to outflows (See Economic Viewpoint: Malaysia 4Q23 Balance of Payments)

• Finance minister maintains 4.0%-5.0% GDP growth forecast in 2024

• Govt to set up 186 more PEDi to bridge digital divide — PM
   
• Anwar: Batu Kawan Industrial Park 3 showcases Penang’s industrial sector success
   
• Semiconductor task force to focus on incentive, talent aspects of transforming Malaysia’s E&E industry
   
• Fahmi: Govt striving to reduce fiscal deficit rate to 4.3% this year
   
• China central bank leaves key policy rate unchanged under shadow of Federal Reserve
   
• BOJ's Ueda keeps pledge to review stimulus when inflation goal met
   
• Two Fed voters indicate openness to three rate cuts this year Strong services price increases lift US producer inflation in January
   
• Villeroy says ECB should favour gradual cuts over acting too late
   
• First BOE interest-rate cut is months away despite recession, Pill says

IDEAS OF THE DAY

• Results Note: KPJ

• Weekly Technical Review: DJIA, KLCI

• Economic Viewpoint: MY 4Q23 BoP, MY 4Q23 GDP

Source: Kenanga Research - 19 Feb 2024