Yokohama, Japan: According to ITTO, analysts expect Malaysia to weather the anticipated tough times coming in 2017 underpinned by ongoing implementation of infrastructure projects, possible early elections, and pre-election spending. However the strengthening of the US dollar against most currencies and the ringgit is of concern.
According to RHB Research, the ringgit has weakened over 6% since the US election results were announced on November 8 and while there is an economic downside to this it does help exporters remain competitive.
Incentives for SMEs explained The Malaysian Timber Council (MTC) recently held a workshop on ‘Cross-cutting Issues: Incentives for SMEs and Bumiputra SMEs in the Timber and Furniture Industry’.
This was part of the MTC’s efforts to assist the development of the Malaysian furniture sector. MTC writes “The recently announced 2017 Budget will play an important role in charting business direction for both SMEs and Bumiputra SMEs in Malaysia and the workshop was aimed at enterprise accountant and finance staff as well as company executives and business owners.”