RM880 billion man high on Malaysia and Dr Mahathir

savemalaysia

Publish date: Thu, 07 Jun 2018, 02:15 PM

RM880 billion man high on Malaysia and Dr Mahathir

Pictet Wealth Management's David Gaud is bullish about Malaysia because of higher oil prices, its recovering ringgit and a narrowing deficit. – YouTube screen grab, June 7, 2018.

WHILE foreigners have been dumping Malaysian stocks for five straight weeks, ‎David Gaud is doing the opposite.

The Asia chief investment officer of the US$220 billion (RM880 billion) Pictet Wealth Management has been buying Malaysian stocks after Pakatan Harapan's election victory last month.

Gaud is bullish about Malaysia because of higher oil prices, its recovering ringgit and a narrowing deficit. The new government also bodes well for the country's politics and economy.

"Dr Mahathir is lucky. He is able to implement new policy at a time when the economy is recovering. He's got a chance to succeed,"

Malaysia's economy is enjoying a strong rebound, with growth forecast to reach 5.5% to 6% this year. Much of that recovery has been on the back of an uptick in global trade and domestic demand.

Most foreign investors are still adopting a wait-and-see attitude on Malaysia, seeking more clarity on the new government's economic strategies.

In particular, they want to see how the government is going to manage the loss of revenue from scrapping the goods and services tax, ‎and what pressure this loss would have on the budget deficit.

Dr Mahathir's administration has made it clear that it will embark on an austerity drive and cancel mega projects to tackle the country's debt woes.

It also hopes that the introduction of the sales and services tax in September will offset some of the revenue loss from abolishing GST. – June 7, 2018.

https://www.themalaysianinsight.com/s/53058

Discussions

2 people like this. Showing 4 of 4 comments

ks55

If any investor/fund managers/PE or VC were to ask me about investing in business/assets in Malaysia now, I would say add a 15-20% premium to it.

This is because:
1) business will be great due to 'feel good' factor
2) stability is proven with a very peaceful transition
3) economy is at full employment
4) Malaysia will be the exemplary democracy in SEA
5) corruption will fall drastically. Lots of spring cleaning expected
6) competitiveness will increase

This is the equivalent of the Xi Jinping momentum in China. We have the hardware due to 60 years of BN rule focusing on infrastructure and economic development. Now, we will gradually build the software with this new PH government.

Welcome and Good luck to all investors.
All the best to our future hope and aspiration of PH government..............

2018-06-07 17:51

billionaire88

You gotta trust this guy. He holds RM880 b of funds. KLSE will break records in due course. New PH government has been making the right moves for the country so far. A lot of people are very impressed. Confidence is coming back to the country. We can all feel it in our bones!

2018-06-08 22:27

DreamCruiser

bullshit. ph has not done anything special except cancel gst & projects with big future development value. just for the sake of winning cheap popularity.

2018-06-09 21:29

freddiehero

haha..

2018-06-09 21:34

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