Page 407 - Special Topic Session (STS) - Volume 3

STS552 Norhayati Razi
Data accuracy has always been the biggest challenge faced by the
compilers. In this regard, significant efforts are required to maximise the
accuracy on data compilation by working towards having more granular
analysis for data quality checking. In addition, regular engagement with
reporting entities are essential to ensure accurate understanding on reporting
requirements. This has helped the Central Bank to meet the mandate to
deliver the official external sector statistics, including the statistics on portfolio
investment, within 7 weeks after end of reporting quarter based on primary
data collection with 100% response rate.
In addition, the external sector compilation system requires design that
meet the long-term needs in order to continuously comply with the
international standard. In this regard, Malaysia adopted the integrated
compilation system which provided flexibility in handling data submission,
processing, as well as data dissemination through single platform. Of
significance, the flexibility provided by the MDM allows the compilers to
incorporate changes by or additional requirements from IMF and BIS without
having to undertake major enhancement to the compilation system.

4. Conclusion
Malaysia has made a significant progress in the compilation of external
sector statistics. The Integrated Compilation System has successfully reduced
the reporting burden faced by both the compilers and the reporting entities.
In view of the favourable responses, the submission deadline was shortened
to 15 days after the end of each reporting quarter, compared with 20 days
previously. Currently, Malaysia publishes the official BOP and IIP statistics by
DOSM and the EDS and IBS by Central Bank respectively, 7 weeks after the
end of each reporting period as compared to 12 weeks previously, with data
obtained through a single platform to ensure consistency across all statistics.
Additionally, Malaysia is one of the earliest participants in the CPIS
submission to IMF, for both mandatory and encouraged items, as well as the
recent initiatives on sharing of ISIN information. At present, Malaysia is
submitting the CPIS on a half yearly basis for all tables, covering the granular
data, i.e. by instruments types, institutional sector and economy of the
issuer/holders for both portfolio investment assets and liabilities respectively.

References
1. CPIS Guide Third Edition
2. External Sector Statistics (ESS) System – Submission of International
Transactions and External Position Information

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