Invest Malaysia Kuala Lumpur (IMKL) is Bursa Malaysia Berhad's flagship event organised annually for the global investing audience. The IMKL platform showcases the diversity of Malaysia's capital market and introduces key multinational companies and global champions that are set to drive economic growth within the ASEAN marketplace.
What Happened
Invest Malaysia, the flagship Malaysian corporate conference, is in its 11th year. CIMB is co-hosting the conference again this year. 1,800 participants have signed up for the conference, and as usual Prime Minister Dato' Sri Najib Razak's keynote address was heavily packed. The key highlights were
1) the announcement that the Government Linked Companies are "graduating" this year as the 10-year transformation programme is coming to a conclusion, and
2) that EPF contributors will retain the right to withdraw their retirement funds at the age of 55. The plenary session after the PM featured Bank Negara Governor Tan Sri Dr Zeti Akhtar Aziz, Minister in the Prime Minister’s Department Dato’ Sri Abdul Wahid Omar, and Khazanah Nasional MD Tan Sri Azman Mokhtar.
What's the Implicaction
There were no major surprises overall but we are reassured that Malaysia's economic fundamentals remain sound, that GLC revamp which started in 2004 has been a success and that investors remain keen on listening to the Malaysian story. The corporate briefings were relatively well-attended and investor participation was respectable too.
What You Should Do
The top-10 larger-cap picks are derived from the preferred sectors; they include Gamuda and IJM Corp for construction, MISC and Westports for transportation and Petronas Gas for utilities. In the smaller-cap space, despite significant YTD share price outperformance for many of the top-10 choices, MyEG, Prestariang, GHL Systems and IFCA MSC are still to be preferred over the others.
(Source: CIMB Research)
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