KUALA LUMPUR: Maybank Investment Banking Group (Maybank IBG) has raised its 2026 Malaysia gross domestic product (GDP) growth forecast to 4.9% from 4.4%, citing resilient economic momentum, while reaffirming its positive outlook on Asean despite ongoing global uncertainties.
The investment bank also lifted its Asean-6 GDP growth forecast to 4.7% from 4.5% previously, supported by easing oil prices, recovering tanker traffic through the Strait of Hormuz and resilient regional economic activity.
Maybank IBG said Malaysia’s economic indicators for April and May point to another quarter of growth above 5%, supported by robust manufacturing, stronger net exports, an artificial intelligence (AI)-driven technology upcycle and higher commodity prices.
“Outlook for the second half of financial year 2026 remains healthy, especially amid sustained momentum in investment approvals, particularly in technology, renewable energy, industrial real estate and infrastructure segments,” it said.
Maybank IBG maintained its year-end target for the FBM KLCI at 1,750, backed by projected earnings growth of 7.5%, sustained investment momentum, resilient consumer spending and steady foreign participation.
It also upgraded its outlook on the technology sector, expecting AI adoption and data centre investments to drive long-term growth.
The outlook comes ahead of Maybank IBG’s flagship Invest Asean conference, which will be held in Singapore on July 7 to 8. The two-day event is expected to bring together around 200 institutional investors and prime brokerage clients with a combined US$23 trillion (RM93 trillion) in assets under management.
It will feature 54 companies – including a sovereign wealth fund – from Malaysia, Singapore, Thailand, Indonesia, the Philippines, Vietnam and India, representing a combined market capitalisation of US$553bil.
Chief executive officer Michael Oh-Lau said the conference underscores sustained investor interest in Asean, with key themes this year including energy transition, supply chain reconfiguration and AI-led digital transformation.
Now in its 13th edition, Invest Asean underscores Maybank’s commitment to connecting investors with companies and providing insights to navigate a shifting global landscape, with attendance surpassing expectations amid sustained investor interest in Asean.
