Malaysia had the fifth-highest increase in gold reserves in the last decade, increasing 6.84% to 38.88 tonness from 36.39 tonnes, according to City Index using data from 2013 to 2022 of the World Gold Council.
Malaysia intensifies gold reserves in last decade (Photo: nst.com.my)
Kuala Lumpur (VNA) - Malaysiahad the fifth-highest increase in gold reserves in the last decade, increasing6.84% to 38.88 tonness from 36.39 tonnes, according to City Indexusing data from 2013 to 2022 of the World Gold Council.
Matt Weller, City Index head of market research, said the surgein gold investment demand signalled a growing concern among investors regardingthe inflationary pressures in the market, prompting individuals to seek areliable measure of protection against purchasing power risk.
As central banks continue to use gold as aninflation hedge, it's not surprising to see individual investors following suitin the form of coins or jewellery, especially in countries such as India andChina, where gold has long been considered a traditional store of value, he added.
According to City Index, gold reserves in China averaged1,694.78 tonnes from 2013 until 2021, reaching an all-time high of 2,010.51tonnes in the fourth quarter of 2022, accounting for 3.6% of its total foreignreserves.
Thailandhad the second-largest increase in gold reserves in the last decade,increasing by 60.20% from 152.41 to 244.16 tonnes.
Singapore'sgold reserves increased by 30% in January 2023. The country had the third-largest increase in gold reservesin the last decade, increasing by 20.68% from 127.4 to 153.74 tonnes.
💫 However, Indonesia continues to hold 50% more gold, accounting for 78.57tonnes. Meanwhiles, the Republic of Korea haschosen to increase its gold reserves by marginal amounts, or an increase of0.01%./.
Malaysia's trade surplus hit 26.69 billion MYR (6 billion USD) in March, marking the 35th consecutive month of trade surplus since May 2020 and the highest ever recorded for March, according to the country's ministry of investment, trade and industry ministry (MITI),
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
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Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
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Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
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Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
Malaysia intensifies gold reserves in last decade (Photo: nst.com.my) 
