ECONOMY / KEY INFRASTRUCTURE UPDATES

• The Malaysian economy continued its growth trajectory of 14.2% (cf. 3Q 2021: -4.5%) in 3Q 2022, led by key sectors of services, construction and manufacturing. The mining and quarrying sector returned to the green territory.
• Private consumption grew 15.2% y-o-y driven by growth in transport, restaurant and hotels, and recreation services & culture.
• The Overnight Policy Rate was revised to 2.75% in November 2022, placing cautious sentiment on buyers amid the rising interest rate and inflation concerns.
• The Ringgit depreciated 4.9% against the strengthening US dollar.
• On the momentum of solid domestic demand and investment inflow, the Malaysian GDP was earlier projected at 6.5% to 7.0% for 2022.