Fitch affirms Malaysia rating at ‘A-’, outlook stable

RAM also said the increase in Indian import duties on rival soybean oil in June 2018 was also expected to reverse the downtrend in palm oil exports for Malaysia and Indonesia.

KUALA LUMPUR: Fitch Ratings has affirmed Malaysia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘A-’ with a stable outlook supported by solid economic growth and a net external creditor position built up from a record of current account surpluses.

It said the affirmation not only takes into consideration measures such as the rollback of the goods and services tax (GST), but also the stated intention to reduce fiscal deficits and improve governance.