Malaysia, an ASEAN country had witnessed its first case related to COVID-19 in the last week of January 2020. The cases related to COVID-19 increased in March 2020 and now registered most cases of COVID-19 in ASEAN. By the first week of April 2020, the country has registered more than 4,100 cases related to coronavirus. 

As per the International Monetary Fund, the GDP of the country was $365 billion in 2019. As per the Central Bank of Malaysia, the growth of the GDP of the country was 4.3% in 2019 as compared to 4.7% in 2018. However, in April 2020, it is estimated that the growth of the GDP in 2020 will be in the range of -2% to 0.5% mainly due to the COVID-19 pandemic. In the wake of increased cases due to COVID-19 pandemic, the government has announced a nationwide Movement Control Order from 18th March to 31st March, which later extended to 14th April. Under this, the citizens of the country are not allowed to leave the country. However, the citizens are allowed to return to the country after a strict medical examination and have to self-quarantine for 14 days. 

The impact of COVID-19 pandemic on Malaysia's economy is studied by classifying the economy into energy, healthcare, retail & e-commerce, aviation, manufacturing, travel & tourism, and other verticals. Most affected sectors in the country include aviation, tourism, and other temporary works. After the Movement Control Order, Malaysian Airlines announced to cancel around 4,000 flights all across the globe. The national airline has suspended all flights to India and the Philippines. The country has announced multiple packages to revive the economy. On 27th February 2020, the country announced a package of $4.56 billion to promote tourism and other industries in the country. After a month, the country announced a package of $58 billion to provide aid to families and business which were affected due to COVID-19. 

Key companies operating in Malaysia whose business operations are affected due to COVID-19 include AirAsia Berhad, Genting Malaysia Berhad, Malaysia Airlines Berhad, Malaysia Airports Holdings Berhad, PROTON Holdings Berhad, the Perusahaan Otomobil Kedua Sendirian Berhad, and others. Numerous manufacturing companies have shut down their operations due to the coronavirus. Proton announced that during the Movement Control Order, the company will shut its production, sales, and after-sales operation throughout the country. Perodua, Mitsubishi Motors Malaysia, Mazda Malaysia, Honda Malaysia, Triumph Malaysia, Volkswagen Passenger Cars Malaysia (VPCM), and other automotive companies also announced to suspend their operation during the period of Movement Control Order in the country.

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on Malaysia's economy. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. The report includes analysis of different regions and the effects of COVID-19 on Malaysia's economy of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the pre and post-COVID-19 impact on the Malaysian economy.
• A detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Malaysian economy.
• Insights about market determinants which are stimulating Malaysia's economy.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.