“Malaysian affiliates’ turnover grew 0.7% to RM343.3 billion in 2023”

A total of 2,404 Malaysian affiliates abroad generated turnover at RM343.3 billion in 2023, slightly increased by 0.7 per cent as compared to the previous year.

Services remained the main contributing sector with a turnover of RM229.6 billion, followed by Manufacturing and Mining & quarrying.

Major countries contributed to the turnover were Singapore (RM55.8 billion), Australia (RM54.7 billion) and Thailand (RM39.9 billion).

Malaysian affiliates abroad employed a total of 437,484 persons with paid compensation of employees at RM25.5 billion increased by 1.6 per cent as compared to RM25.1 billion in the previous year.