29 Dec '15, 1am

More pain ahead seen for Malaysia economy - By Pauline Ng (Singapore Business Times)

By Pauline Ng Singapore Business Times Dec 29, 2015 Slumping ringgit, oil prices, business and consumer sentiment add up to a pessimistic 2016 outlook Currency analysts predict further devaluation in the ringgit in 2016 with projections ranging from 4.49 to 5.00 to the greenback from about 4.30 at year end. Kuala Lumpur – “KU” or bitter was the Chinese character most picked by Malaysian Chinese businesses to characterise 2015 which saw the introduction of a consumption tax, public transport hikes and numerous other cost increases made worse by a tanking ringgit that has lost nearly a fourth of its value against the US dollar over the year after dropping 8 per cent in the previous year. Sadly, the signs are pointing to an even more tumultuous 2016. With global oil prices slumping below US$40 a barrel – bad news for oil producers such as Malaysia – and business and consumer ...

Full article: http://blog.limkitsiang.com/2015/12/29/more-pain-ahead-se...

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