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Malaysian market is “relatively healthy”, says Maybank IB

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Malaysian market is “relatively healthy”, says Maybank IB Empty Malaysian market is “relatively healthy”, says Maybank IB

Post by Cals Mon 13 Jan 2014, 18:21

Malaysian market is “relatively healthy”, says Maybank IB
Business & Markets 2014
Written by Jonathan Gan at theedgemalaysia.com   
Monday, 13 January 2014 12:18

KUALA LUMPUR (Jan 13): “The market in Malaysia is relatively healthy”, commented Ong Seng Yeow, economist at Maybank Investment Bank on Saturday

He added Malaysia has also done well in terms of fiscal consolidation, as the government continues to mandate the debt ceiling ratio at 55% and capping fiscal deficits at 4%.

Referring to the ratings that were recently set by credit rating agencies Moody and Fitch, Ong says Malaysia “has done really well compared to our neighbours.”

Ong added that despite the current stability in the market, subsidy rationalisation measures will continue to be implemented.

“We don’t think it’s going to stop here. In addition to that, we have the GST (goods and services tax) which we estimate will draw in about RM4 billion in the 2015 fiscal year and RM9 billion for 2016.”

On the overnight policy rate (OPR), Ong and his team believe that the interest rate will remain at a steady 3%.

“The inflation that we currently see is more cost push rather than demand pull,” commented Ong.
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