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Malaysia stocks “looking attractive” now, MIDF Group MD says

KUALA LUMPUR: Malaysia’s stocks are “looking attractive” after being among the worst performers globally amid the pandemic, Malaysian Industrial Development Finance Bhd’s group managing director Charon Wardini Mokhzani said.

“Everything is looking attractive, ” he told Bloomberg TV on Tuesday.

“The number of Covid-19 cases is up but I think the whole vaccination programme is doing well.”

Note: * The benchmark KLCI Index has fallen about 8% from a December high

* More than 7 million people have received at least one dose of the Covid vaccine, of which 2.1 million people are fully inoculated, according to the health ministry.

* Malaysia is expected to return to normalcy this year, he said

* Manufacturing sectors aren’t as badly affected as tourism and services sectors

* Monday’s RM150bil (US$36bil) economic package offers a lot of cash transfer to the right people and will help to boost the economy, he said

* MIDF sees “no bubble” with environmental, social, governance (ESG) assets, and expects the trend toward investing in ESG to stay

* MIDF will launch an online investment platform that will allow Malaysians to trade U.S stocks on the New York Stock Exchange and the Nasdaq, he said.

* MIDF is a unit of Malaysia’s largest state asset manager Permodalan Nasional Bhd. - Bloomberg


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