Public Bank is its top pick for Malaysian banks as the research house believes it is the most defensive against the credit risks arising from the Covid-19 outbreak. Its credit charge-off rate of 33bp in FY20 was the lowest in the sector.
KUALA LUMPUR: The relaxation of movement control measures will be viewed positively by the market as this reduces corporate earnings risk concerns, CGS-CIMB Equities Research says.
“The start of the Covid-19 vaccination drive is also positive as this could help reduce the risk of new infections over time.
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