KUALA LUMPUR: OSK Research remains upbeat on the Malaysian stock market and expects market sentiment to remain positive despite the global uncertainties.
'With the ETP (Economic Transformation Programme) and the upcoming general election as its twin catalysts, we remain Overweight on the Malaysian market with our 1,680 year-end target intact,' it said on Wednesday, March 9.
OSK Research said given continued efforts to keep sentiment buoyant on the economy and what appeared to be progress in encouraging investment, both domestic and foreign, it believed market sentiment would not turn unduly negative despite the global uncertainties.
Its favourite sectors were still banks, oil & gas, property and CONSTRUCTION [].
On Tuesday, Prime Minister Datuk Seri Najib Razak unveiled nine more Entry Point Projects (EPPs) as part of the 4th Economic Transformation Programme (ETP) update.
Together with the 14 EPPs that have been announced since his last update in January 2011, these 23 EPPs are expected to produce RM14.75 billion in investments, RM20.1 bilion in Gross National Income (GNI) and 88,354 incremental jobs.
Including the 23 under the 4th ETP update, there have been a total of 60 projects under 46 EPPs that will produce RM95.4 billion in investment, RM137.2 billion in GNI and 224,358 jobs.
The PM and the Performance Management and Delivery Unit (Pemandu) are therefore hopeful that 2011's potential investment stands at a strong RM127 billion, surpassing the initial RM83 billion target under the ETP.
OSK Research said while some of the newly unveiled ETP may excite on the smaller scale for the corporate involved, others, such as the MARDI initiative may take some time to materialise.
'Nonetheless, we feel that Pemandu is doing a good job of ensuring that the ETP and the progress of the Malaysian economy remains topical since its launch on Oct 25, 2010. Thus far, there have been four updates of which yesterday's (Tuesday) was the latest one. We believe that plans are for continuous updates going forward to ensure that the 'rakyat' remains aware of the ETP and its progress.
OSK Research said while Pemandu is doing an excellent job of compiling and publicising new EPPs, it would also welcome updates on the previously launched EPPs with regards to how far they have progressed.
It added this would do much to assuage continuing concerns about how well Implementation is progressing in the ETP which is the usual concern of foreign investors.
'With the ETP (Economic Transformation Programme) and the upcoming general election as its twin catalysts, we remain Overweight on the Malaysian market with our 1,680 year-end target intact,' it said on Wednesday, March 9.
OSK Research said given continued efforts to keep sentiment buoyant on the economy and what appeared to be progress in encouraging investment, both domestic and foreign, it believed market sentiment would not turn unduly negative despite the global uncertainties.
Its favourite sectors were still banks, oil & gas, property and CONSTRUCTION [].
On Tuesday, Prime Minister Datuk Seri Najib Razak unveiled nine more Entry Point Projects (EPPs) as part of the 4th Economic Transformation Programme (ETP) update.
Together with the 14 EPPs that have been announced since his last update in January 2011, these 23 EPPs are expected to produce RM14.75 billion in investments, RM20.1 bilion in Gross National Income (GNI) and 88,354 incremental jobs.
Including the 23 under the 4th ETP update, there have been a total of 60 projects under 46 EPPs that will produce RM95.4 billion in investment, RM137.2 billion in GNI and 224,358 jobs.
The PM and the Performance Management and Delivery Unit (Pemandu) are therefore hopeful that 2011's potential investment stands at a strong RM127 billion, surpassing the initial RM83 billion target under the ETP.
OSK Research said while some of the newly unveiled ETP may excite on the smaller scale for the corporate involved, others, such as the MARDI initiative may take some time to materialise.
'Nonetheless, we feel that Pemandu is doing a good job of ensuring that the ETP and the progress of the Malaysian economy remains topical since its launch on Oct 25, 2010. Thus far, there have been four updates of which yesterday's (Tuesday) was the latest one. We believe that plans are for continuous updates going forward to ensure that the 'rakyat' remains aware of the ETP and its progress.
OSK Research said while Pemandu is doing an excellent job of compiling and publicising new EPPs, it would also welcome updates on the previously launched EPPs with regards to how far they have progressed.
It added this would do much to assuage continuing concerns about how well Implementation is progressing in the ETP which is the usual concern of foreign investors.
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