Malaysia still a preferred investment destination in region, says Affin Hwang Asset Management

Malaysia still a preferred investment destination in region, says Affin Hwang Asset Management

KUALA LUMPUR, May 7 — Malaysia remains a preferred investment location in the region for foreign investors as the impact from internal factor has significantly reduced so far this year, Affin Hwang Asset Management Bhd said.

Managing Director/Executive Director Teng Chee Wai said the completion of 1Malaysia Development Bhd’s (1MDB) rationalisation plan, for instance, had gradually lifted sentiment.

“Foreign investors are confident in Malaysia’s long-term market performance,” he told Bernama at an Investment Forum 2016, here, today.

It was reported that foreign investors bought shares worth RM6.4 billion in Bursa Malaysia in the week of April 22.

Meanwhile, 1MDB’s rationalisation plan involves, among others, debt-for-asset swap with International Petroleum Investment Company, sale of stakes in Edra Energy and Bandar Malaysia, sale of master-planned land in Tun Razak Exchange and disposal of non-core assets.

The Ministry of Finance also announced that 1MDB’s assets and subsidiaries will be transferred to the Minister of Finance Incorporated and its board of advisors dissolved as recommended by the Public Accounts Committee.

On enhancing Malaysia’s competitiveness in the region, he said appropriate policies would be the key factor to enhance the competitiveness against neighbouring countries, particularly Thailand.

Thailand, Teng said had become the Detroit of car manufacturing in the ASEAN region following the introduction of preferential tax policies.

Nevertheless, he said Malaysia had all the ingredients to be competitive whether in terms of education, age profile or demographic, as well as rule of law and political stability.

— BERNAMA

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