Express briefcase:
- Malaysia had a robust 2014 with real GDP growth at a solid 6.0%.
- Oil prices have halved and so we expect government revenue and current account surplus to be crimped as Malaysia is a significant net exporter of energy (primarily gas). The Ringgit weakened 13% against the USD.
- 1MDB has attracted a lot of media attention lately, especially when it missed several deadlines for the repayment of a RM2 bn loan. Following 1MDB, the spotlight is now on other government linked entities, which are deemed less transparent.
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