Crédit Agricole Group in Malaysia
Since 1957, the Group has had several successive incarnations in this country, working, successively or simultaneously, in several banking activities.
An economy driven by domestic demand but exposed to the vagaries of international trade and the risks of political tensions
In 2024, GDP growth reached 4.5% driven by private consumption, which benefited from the positive momentum of the labour market and the increase in investment, notably linked to public infrastructure projects (roads, railways) and in the digital sector. Growth is expected to remain strong in 2025, fuelled by private consumption, driven by the increase in purchasing power of the population benefiting from the increase in public wages, even if monetary policy is expected to remain unchanged in 2025.
As a natural option for Singaporean companies seeking space and labour, the country also attracts companies seeking to diversify their production lines, especially outside China. The rapid development of the semiconductor sector, which has benefited from US and European investments, has thus become a new driver of medium-term growth, and a development trajectory for the country wishing to progress in value chains. But the country’s openness (exports account for 70% of GDP) could be a source of risk, as the expected deceleration in the Chinese economy poses a threat, as does the rise of US protectionism, which could hurt the export of electronic components.
The IMF expects dynamic growth over the medium term (+ 4%/year on average by 2029).
After a period of turmoil between 2018 and 2022, with the succession of several coalitions at the helm of the country, the country has regained more stability on the political scene after the November 2022 elections. However, the country is experiencing ethnic and religious tensions and the rise of Islamist parties in the opposition in recent years.
As a signatory to the Paris Agreement, Malaysia has committed to achieving carbon neutrality by 2050, with the intermediate target of reducing greenhouse gas emissions per unit of GDP by 45% by 2030 compared to 2005 levels. In addition, it plans to introduce carbon taxes and an emissions trading scheme.
Benchmarks 2023
| Population: | 35.8 million |
| GDP: | $12,091/capita |
| Growth forecast: | 3.6% (2023), 4.5% (e) in 2024 |
| Inflation: | 2.2% |
| Public debt: | 68% of GDP |
| CO2 emissions: | 8.3 tons/capita |
Crédit Agricole Group in Malaysia
| Setup | Business activity |
| CACEIS 1196 employees | Founded in 2008, RBC Investor Services Malaysia Sdn Bhd was renamed CACEIS Malaysia Sdn Bhd following CACEIS’s acquisition of RBC Investor Services’ European and Malaysian asset servicing activities on 3 July 2023. CACEIS Malaysia is a major operational centre for the Group and a pillar of CACEIS's follow-the-sun system, just like CACEIS in Canada. In this capacity, it supports the Group’s European entities and ensures the continuity of client operations. |
| Amundi Malaysia 28 employees | Amundi Malaysia was first established as a foreign fund management company under the Securities Commission Malaysia’s Special Scheme, and became the fourth foreign fund management company to enter into the local market through a 100% foreign owned company. The company was issued with the Capital Markets Services Licence for the regulated activity of fund management on 5th August 2008. Amundi Malaysia has a full-service fund management operation; serving as one of the investment centers for Amundi Group and is the global hub for shariah-compliant expertise. It has an onshore investment team, covering both local and regional assets, including domestic fixed income and equities, domestic and Asian equities and global sukuk. Supporting the growing business, largely covering institutional and corporate investors; it also has dedicated sales and client servicing personnel, together with fully functional operation teams locally. |