Malaysia showing good signs of economic recovery after pandemic-driven MCO — StanChart

KUALA LUMPUR (Oct 15): Standard Chartered plc (StanChart) said on Friday (Oct 15) Malaysia is showing good signs of economic recovery, helped by the country’s National Recovery Plan (NRP) which has been tasked to rejuvenate the local economy from the impact of Covid-19-driven movement restrictions under the various forms of the Movement Control Order (MCO) to curb the spread of the pandemic.

According to StanChart’s Asia chief executive officer Benjamin Hung, the crucial aspects of Malaysia’s economic growth are seen in the electronic, electric vehicle component, pharmaceutical and Islamic bond or sukuk markets.

Hung was speaking at a virtual media briefing on emerging business opportunities within the Association of Southeast Asian Nations (ASEAN) region.

Besides Malaysia, ASEAN members include Brunei, Cambodia, Indonesia, Laos, Myanmar, the Philippines, Singapore, Thailand and Vietnam, according to ASEAN’s website.