Following Malaysian Prime Minister, Tan Sri Muhyiddin Yassin’s declaration that the entire country will be on a movement control order starting from 15th June 2021, to deal with the rise in Covid-19 cases, InvestPenang would like to inform that:
• InvestPenang office will be closed from 15th June 2021. Operation will resume when there are further directives from the government.
• InvestPenang team will still be working from home and reachable via emails. Please refer to our respective emails at https://investpenang.gov.my/about-invest-penang/.
We remain committed to support our stakeholders through this difficult time.

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KUALA LUMPUR (Aug 13): Malaysia’s second quarter (2Q15) economic growth slowed to 4.9% from a year earlier on lower exports and as domestic consumption expanded at a weaker pace.

In a statement today, the Statistics Department said the country’s 2Q15 economic growth as measured by its gross domestic product (GDP), slowed from 5.6% in 1Q15.

“(2Q15) Exports dropped further to negative 3.7% reflected by the subdued performance in exports of goods and services. Meanwhile, imports also posted a negative growth of 2.8% due to a contraction in imports of goods.

“Private final consumption expenditure grew at 6.4% (Q12015: 8.8%). The growth was driven by the consumption on food and beverages, housing and utilities, communication and transportation,” the department said.

Cumulative 1H15 GDP growth also slowed to 5.3%  from a year earlier. In 1H14, GDP expanded 6.4%. In quarterly terms, 2Q15 GDP rose 1.1% from the preceding quarter.

On the supply side, the department said the services and manufacturing sectors grew 5% and 4.2% respectively from a year earlier.

The mining and quarrying industry expanded 6%.

“Mining and quarrying sector, which accounted for 9.1% of Malaysia’s economy, moderated to 6.0% (Q1 2015: 9.6%). The slower growth in this quarter was influenced by the decline in production of natural gas and moderation in production of crude oil,” the department said.