UOB Malaysia survey shows Malaysians to spend 9% more this CNY

UOB Malaysia economist Julia Goh said the market has responded relatively well to Malaysia

KUALA LUMPUR: Malaysians are willing to fork out 9% more to usher in the Year of the Cockrel based on the annual United Overseas Bank (Malaysia) Bhd Chinese New Year (CNY) survey.

It said on Friday that of their average budget of RM4,201 for the CNY festivities, (which is an increase from RM3,846 in 2016, the respondents said they would set aside RM1,008 to food, an increase of 14% over 2016.