ASEAN Beat | Economy | Southeast Asia

Malaysia to Introduce Work From Home For Government Workers From April 15

Despite the advantages it enjoys as a net oil exporter, Prime Minister Anwar Ibrahim said that the country cannot afford to get “too comfortable.”

An oil and gas terminal in Sabah, Malaysia.

Malaysia will begin ordering government workers to work from ​home later this month as the country seeks ‌to bring down energy costs in the midst of the current global oil supply crisis.

In a video announcement late yesterday, Prime Minister Anwar Ibrahim said that the policy will take effect on April 15 and will apply to both the public sector and government-linked companies, the state news agency Bernama reported.

“The aim is to ​reduce fuel consumption and ensure the sustainability of energy supply,” Anwar said.

Since February 28, the Iran war has led to the effective closure of the Strait of Hormuz, the passage for around a fifth of global oil and liquefied natural gas (LNG). This has caused negative ripple effects across the world, particularly in Asia, which is heavily dependent on imports of oil and LNG from the Gulf.

While Malaysia is a net exporter of energy – one of two in Southeast Asia – it nonetheless remains exposed to shifts in the global oil markets. The reason for this is that Malaysia chooses to export its own high-quality light sweet crude oil, which commands a higher price internationally, and to import cheaper heavy crude oil, which it has the capacity to refine domestically.

That said, the country is in a relatively advantageous position. Earlier this week, Abdul Rasheed Ghaffour, the governor of the central bank, said that Malaysia’s status as a net energy exporter and fiscal........

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