Malaysia Market Focus
Silver lining opportunities

Signs of weakening in retail and property sectors. Corporates targeting affordable segments make good gains. Trim universe 2014 earnings by 1.4%; potentially more earnings downside from further deficit-reducing measures. Overweight: oil & gas, construction; Underweight: property, consumer, aviation. We like companies with: (1) top class management and solid execution; (2) visible growth drivers; (3) small-mid caps with favourable risk-reward profiles.

Source: HwangDBS Research - 4 Mar 2014