Malaysia's financial condition one of the strongest in the world today -- Investment Guru

Malaysia's financial condition one of the strongest in the world today -- Investment Guru
Business & Markets 2013
Written by Bernama
Tuesday, 10 September 2013 15:15

KUALA LUMPUR (Sept 10): Malaysia's financial condition is one of the strongest in the world today due to the prudent management of its financial system, said investment guru Dr Marc Faber.

"Unlike US banks, Malaysia's are solid and they do not involve in derivatives or gamble," he told a press conference after giving a presentation entitled "Investment Strategy -- Where's the Money?" here today.

Faber, the publisher of the widely-read Gloom, Boom & Doom report, said despite Fitch Ratings recent negative outlook on Malaysia, the country stood out relatively well compared to other emerging countries.

When given the choice of between the US and Malaysian equities, Faber expressed more interest towards the latter.

"Malaysian equities are not exciting. However, they are relatively stable, supported by a well-balanced economy coupled with no major downward risks," he said.

Update Marc Faber: Malaysia haven for investors compared to US
Business & Markets 2013
Written by Cynthia Blemin of theedgemalaysia.com
Tuesday, 10 September 2013 15:10

KUALA LUMPUR (Sept 10): Although Malaysia is not seen as an exciting economy, it is probably the safest haven for foreign investors compared to the US, said renowned investor Dr Marc Faber.

"If you ask me if I should invest in US or Malaysia, I will choose Malaysia," he said at a media briefing after MIDF Investment Bank Bhd's seminar here today.

Despite the recent Malaysian debt outlook downgrade by rating agency Fitch, Faber said Malaysia has strong financials and a "solid banking sytem". As such, investors can put their money in local stocks, he said.

Faber who owns shares in MALAYAN BANKING BHD [] and PUBLIC BANK BHD [] besides several tobacco-related firms here, said that Malaysian equities are fairly valued.