KUALA LUMPUR: Tan Teng Boo, icapital.biz Bhd's designated person, believes there are now more reasons to buy Malaysian stocks for the long-term, thanks to the covergence of many positive factors.
"After trapping investors in bear market rallies since 2014, Malaysia is now at a critical juncture.
"For the first time in many years, I have turned more optimistic about Malaysia’s future," he said in a statement.
Tan, who has more than five decades of investment experience, said he now sees a good chance for Malaysian stocks to perform better than what was seen in the past.
Tan's optimism comes despite acknowledging various challenges stemming from the pandemic recovery, geopolitical tensions, political turmoil, soaring global inflation, volatile exchange rates and extreme climate pattern.
“Fundamental and structural changes will indeed take time, but the wheels of positive change have already been set in motion.
"Malaysia’s economy and politics are gradually transforming as the negative influence from the old political leadership is no longer lingering,” he said.
He added that under Prime Minister Datuk Seri Anwar Ibrahim's administration, the country has done the right thing by remaining neutral amid the escalation of the US-China rivalry.
Tan will further detail his views on Malaysia during Capital Dynamics and icapital.biz's 2023 Investor Day, slated to be held on Sunday, Nov 5 at the Kuala Lumpur Convention Centre.
This year’s event is entitled “Why Now is the Right Time to Invest in Malaysia.”
Investors can register for the event at https://events.icapital.biz/landing-page/2023-investor-day-of-icapitalbiz-berhad/.
