TOKYO - Malaysia’s central bank warned at the Nikkei Forum Future of Asia 2026 in Tokyo on June 10 that remittances could become one of the next pressure points if current shocks continue to drag on.

Bank Negara Malaysia Governor Abdul Rasheed Ghaffour made the remarks during an ASEAN+3-related panel that also featured National Bank of Cambodia Governor Chea Serey and East Asia Business Council 2026 Chairman Jay Y. Yuvallos.

ASEAN+3 groups Southeast Asian economies with China, Japan and South Korea. Rasheed said the region entered the current shock from a position of strength, supported by reforms after the Asian financial crisis, more diversified economies, stronger external sectors and policy buffers.

He said the region’s export-oriented model and participation in global value chains had helped economies adjust to energy pressure and sustain demand in sectors including semiconductors and advanced manufacturing. But he said the same shock could become harder to absorb if it lasts longer.

“The key risk really lies in the duration,” Rasheed said. “It started more of as an energy crisis, but now it has gone into industrial inputs, logistics, food prices, tourism, and even remittances.”

AMRO said in a June 2 update that it maintained ASEAN+3 growth at 4.0 percent for 2026, unchanged from its April forecast. It raised its inflation projection to 1.8 percent from 1.4 percent, citing expectations that disruption would last longer than earlier assumed due to more prolonged disruption from the Middle East conflict.

The remittance link is large for the region. ADB’s Asian Economic Integration Report 2026 said remittance inflows to Asia remain resilient, supported by greater use of digital remittances and continued migration from the region.

The report also said remittances and tourism remain robust, though high-skilled migration is still concentrated outside the region.

The pressure was already visible in the regional outlook before the panel met. Reuters reported on June 10 that oil prices were volatile during renewed U.S.-Iran fighting, with Brent crude at $91.36 a barrel and U.S. West Texas Intermediate at $88.10 as markets weighed supply risks around the Strait of Hormuz.

Chea and Yuvallos also pointed during the discussion to conflicts, trade tensions, financing conditions and higher logistics and energy costs as pressures already weighing on households and businesses.