Malaysian banks solid, says investment guru

Faber owns stock s in the consumer and banking sectors.

KUALA LUMPUR: Malaysian banks are solid, as they are not involved in risky financial instruments such as derivaties by US banks, said investment guru Dr Marc Faber.

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