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Malaysia

Special Data Dissemination Standard

Summary
The International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) website states that that Malaysia has been a subscriber to the SDDS since August 1996 and started meeting its requirements in September 2000. Both the IMF's SDDS website and a 2007 observance report by the IMF note that Malaysia meets or exceeds SDDS standards of coverage, timeliness, and periodicity. The country, however, takes the timeliness flexibility option for data on Central Government/Public Sector Operations. The Malaysian authorities provide advance release calendars for all data categories. Further, the SDDS website asserts that statistical data for all entry points are being simultaneously released to all interested parties. According to the same website, the integrity dimension largely meets the SDDS requirements, except that for several data categories information concerning changes in methodology are provided at the time of release and not in advance as required by the IMF. Most data categories provide information on terms and conditions for confidentiality, except for Central Government Debt, Central Government Operations, Central Government or Public Sector Operations, and Share Price Index of the Stock Market, where no information is available on the SDDS website. The IMF's SDDS website indicates that Malaysia fulfils all SDDS requirements on the quality dimension. In addition, the 2007 report also finds that during 2007, Malaysia provided information on the methodology, sources, and reconciliation of data categories that allowed users to assess the quality of the data.

    General Overview

    Malaysia has been a subscriber to the International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) since August 1996 and met all SDDS specifications as of September 2000. The information on the SDDS website indicates that Malaysia meets the SDDS requirements for coverage, periodicity, and timeliness of the data, and broadly satisfies the conditions for access, integrity and quality dimensions for all data categories. The 2007 IMF observance report indicates that the IMF assessed Malaysia's data as broadly adequate for effective surveillance; however, it noted that additional efforts to improve consolidated public sector statistics are required.
    The Department of Statistics Malaysia's (JPM) website notes that all statistics collected and published by the department are governed by the Statistics Act of 1965. This Act empowers the JPM to determine the coverage, contents, methodology and periodicity of collected data and limits it from publishing or providing to any individual or organization, statistics that would enable the identification of data for any individual person or entity. The JPM, according to its website, comes under the Prime Minister's Department. Per the IMF's SDDS website, the collection and dissemination of various sector specific data are governed by different acts. For instance, statistical information related to Central Bank Accounts is governed by the 1958 Central Bank of Malaysia Act. Data on general government component of the non-financial public sector and central government operations are governed by the 1957 Financial Procedures Act.


    The Principles

    Comprehensive economic and financial data, disseminated on a timely basis.

    Both the IMF's SDDS website and a 2007 observance report by the IMF note that Malaysia meets or exceeds SDDS standards for coverage, timeliness, and periodicity. The country, however, avails itself of a timeliness flexibility option for data on Central Government/Public Sector Operations.

    Ready and equal access to official statistics.

    Advance release calendars, during 2007, were provided for all data categories for all months, according to the 2007 IMF report. The IMF's SDDS website confirms the findings of the 2007 IMF report with one exception, there is no information on population data with regards to this requirement. Further, the SDDS website asserts that statistical data for all entry points are being simultaneously released to all interested parties.

    Official statistics must have the confidence of their users. Transparency of its practices and procedures is a key factor.

    According to the IMF's SDDS website, the integrity dimension largely meets all of the SDDS requirements, except that for several data categories information concerning changes in methodology are provided at the time of release and not in advance as required by the IMF. Most data categories provide information on terms and conditions for confidentiality, except for Central Government Debt, Central Government Operations, Central Government or Public Sector Operations, and Share Price Index of the Stock Market, where no information regarding this requirement is available on the SDDS website.

    A set of standards that deals with the coverage, periodicity and timeliness of data must also address the quality of statistics.

    Information provided on the IMF's SDDS website indicates that Malaysia fulfils all SDDS requirements on the quality dimension. In addition, the 2007 IMF report also finds that during 2007, Malaysia provided information on the methodology, sources, and reconciliation of data categories that allowed users to assess the quality of the data. Summary methodologies are provided for all the statistics produced by Malaysia.

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    Sources of Assessment

    International Monetary Fund, "Malaysia: Annual Observance Report of the Special Data Dissemination Standard for 2007," 2007. Available from International Monetary Fund website. Accessed on July 1, 2008. (IMF 2007)

    International Monetary Fund, "Executive Board Concludes 2006 Article IV Consultation with Malaysia," Public Information Notice, No. 07/34, March 2007. Available from International Monetary Fund website. Accessed on July 2, 2008. (IMF 2007)

    International Monetary Fund's Special Data Dissemination Standard website. Accessed on July 1, 2008. (IMF SDDS website)

    Relevant Organizations

    Bursa Malaysia

    Central Bank of Malaysia - Bank Negara Malaysia (BNM)

    Department of Statistics Malaysia - Jabatan Perangkaan Malaysia (JPM)

    National Economic Action Council (NEAC)

    Securities Commission -Suruhanjaya Sekuriti

    Ministry of Finance - Perbendaharaan Malaysia (MoF)



    Relevant Legislation/Regulation

    Statistics Act No. 415, 1965 (revised 1989)

    Financial Procedure Act No. 61, 1957 (with amendments through 2006)

    Central Bank of Malaysia Act No. 519,1958 (last revised 1994)



    Supplementary Sources

    International Monetary Fund, "Malaysia: Statistical Appendix," Country Report No. 05/102, Washington, D.C.: IMF, March 2005. Available from International Monetary Fund website. Accessed on October 11, 2006. (IMF 2005)

    Department of Statistics Malaysia website. Accessed on July 21, 2008. (JPM website)
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