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Continuation of policies, including pro-business, protectionism for local industries expected, said Kenanga Research

by NST Business

Kenanga Investment Bank Bhd expects the continuation of prevailing policy inclinations, including pro-business, protectionism for local industries, and business as usual for government-linked companies, following the appointment of Datuk Seri Anwar Ibrahim of the Pakatan Harapan coalition as Malaysia’s 10th Prime Minister (Photo by Mohd RASFAN / AFP)

KUALA LUMPUR: Kenanga Investment Bank Bhd expects the continuation of prevailing policy inclinations, including pro-business, protectionism for local industries, and business as usual for government-linked companies, following the appointment of Datuk Seri Anwar Ibrahim of the Pakatan Harapan coalition as Malaysia’s 10th Prime Minister.

Analysts Joshua Ng said further that the research firm also anticipates strong financial support to the economy with cash handouts, fuel and food subsidies, and pump-priming.

“We continue to advocate for investors to seek refuge in banks, telcos, automakers and distributors, mid-market retailers, and construction as we believe the ‘unity’ government will support domestic consumption.

“We raise our end-2022 FBM KLCI target back to 1,500 pts from 1,450 pts,” he said in a note today.

Earlier, the King consented to appoint Anwar Ibrahim as the country’s 10th prime minister to lead a ‘unity’ government based on a power-sharing model.

Source: Continuation of policies, including pro-business, protectionism for local industries expected, said Kenanga Research-New Straits Times

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