Malaysia in Focus: Growth normalization with fiscal consolidation efforts

TRIS Rating expects Malaysia’s real GDP growth of 4.5% in 2023-2024 moderating from 8.7% in 2022.

Cambodia in Focus: Moderate growth outlook with external sector vulnerabilities

Moderate GDP growth is expected to continue in 2023 from a recovery in exports of services following China’s reopening.

FINANCIAL INSTITUTIONS - Banks

We maintain a “stable” outlook on Thai commercial banks. Thai banks’ overall earnings in the first half of 2023 (1H23) were largely in line with our expectations, despite weak credit growth and moderately higher credit costs, thanks to improved net interest margin (NIM).