The Edge reported that Malaysia Q1 GDP came in stronger than expected with 4.2% growth. Some of the article is as below:

"Malaysia’s economic growth accelerated faster than expected in the first three months of 2024, thanks to higher household spending, stronger investment activities, improvement in labour market conditions, and higher exports and tourist arrivals.

Gross domestic product grew 4.2% year-on-year (y-o-y) in January-March 2024 when compared to the same period in 2023, Bank Negara Malaysia announced on Friday. The reading is higher than the median estimate of 3.9% y-o-y growth in Bloomberg's survey of economists."

Full news is here:

Malaysia's 1Q GDP beats consensus estimates, grows 4.2% y-o-y (theedgemalaysia.com)

Which 10 companies will benefit from STRONG GDP?

1. MAYBANK 

2. PUBLIC BANK 

3. RHBBANK

Reason for MAYBANK, PUBLIC BANK and RHBBANK: 

Malaysian banks would see a rise in loan demand from businesses and individuals as the economy expands.

4. APOLLO

5. HLIND

Reason for APOLLO and HLIND: 

Malaysian consumers would likely spend more on discretionary items like motorcycles. This will benefit HLIND. As parents have more disposable income, they will give more pocket money to their children benefitting APOLLO.

6. HUMEIND / MCEMENT

7. SUNCON

Reason for HUMEIND, MCEMENT and SUNCON:

Companies involved in construction like Sunway Construction and building materials like HUMEIND and MCEMENT could benefit from increased infrastructure spending by the government.

8. SUNWAY

9. AVALAND

Reason for SUNWAY and AVALAND:

The property sector in Malaysia is also likely to benefit from a stronger GDP. A growing economy often leads to job creation and higher wages, which can put more money in people's pockets. This can translate to increased demand for housing, both for buying and renting. This will benefit companies such as SUNWAY and AVALAND.

10. SHANG

Reason for SHANG:

Hotels would directly benefit from this rise in tourism. This will be from higher occupancy rates: With more tourists visiting Malaysia, hotels can expect higher occupancy rates, leading to increased room revenue. There is also potential for price increase in room rate: As demand rises, hotels may be able to increase their room rates, further boosting their profits.