On behalf of the Board of Directors, I am pleased to present the Annual Report and Audited Financial Statements of Versatile Creative Berhad for the financial year ("FY") ended 31 March 2018.
The global economy keeps growing stronger than expected underpinned by faster growth in the advanced economies as well as the continued improvements in the emerging market and developing economies. The growth momentum is expected to continue this year as well next year but on a moderated pace.
TReal GDP for 2018 is expected to grow by 5.5% and further weakened to the range of 4.8-5.3% next year. The growth will be driven by domestic demand and reinforced by strong external sector.
However, domestic demand is expected to grow at a slower pace of 5.8% y-o-y this year, compared to 6.5% last year, and further moderate to 5.3% next year. Strong growth in domestic demand last year was inflationary as revealed by the CPI headline inflation that averaged at 3.5% last year.