Penang Economic Outlook

We live in a time when giant economies have had to experience how fragile they can be. The global crisis that began in 2008 has been going on for quite a few...

The recent decline of the oil price – and therefore an increase in oil price volatility – have created a particularly uncertain forecasting environment that cannot be overlooked when attempting to forecast the economic outlook for 2015.

Malaysia’s population crossed the 30 million mark in February 2014. According to the Population and Housing Census 2010, about three in 10 people fall in the 20-40 years old age group – the one most likely to be first-time home buyers. By 2020, that group is projected to grow to 11.3 million.

Recent economic events, particularly the fall in oil price, are predicted to significantly shade the economic outlook for Penang and for Malaysia at large.

In 2013, Penang's share of the manufacturing sector to the overall GDP of the state was almost equal to that of the service sector, at 47.8%. Penang shows that its manufacturers have a higher overall share towards its income than the Malaysian average.

Asia’s fisheries sector has been thriving since 1980, and the main source of growth has been aquaculture. Since the 1990s, the aquaculture sector has been...

On November 30 last year, news broke that four young inventors from SJKT Ramakrishna had won six international awards and a gold medal for their problemsolving,...