Malaysia stands out as top expansion market for Middle Eastern firms

A survey conducted by Standard Chartered showed that Malaysia is the top expansion market for Middle East companies that are looking at Southeast Asia. The survey said 78% of these Middle East companies viewed Malaysia as the top location among countries in the Association of Southeast Asian Nations (ASEAN). According to the StanChart report, Malaysia's refining and petrochemicals, renewable energy, and retail and consumer goods sectors are attractive to Middle East companies. The survey said Middle East companies expect business growth over the next 12 months, with over 80% of them projecting an annual increase in both revenue and production of over 10%.