Better Bursa showing likely

“Our end-2023 FBM KLCI target is 1,660 points. So that’s about a 12% to 13% upside from where we are right now and pegged to 14 times forward price-earnings,” says Maybank Investment Bank Bhd head of Malaysia and regional equity research Anand Pathmakanthan.

KUALA LUMPUR: Despite a forecast slowdown in Malaysia’s economic growth to 4% in 2023, the local bourse is expected to perform better this year due to fewer political risks and stronger corporate earnings growth, says Maybank Investment Bank Bhd head of Malaysia and regional equity research Anand Pathmakanthan.

“We are fairly constructive on the market compared to 2022, when it was very challenging.