AFFIRMS MALAYSIA’S ECONOMIC RESILIENCE AND GROWTH POTENTIAL
Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) together with Maybank today held the 19th instalment of Invest Malaysia Kuala Lumpur 2021 (“IMKL 2021”). Themed “Rebuilding A Sustainable Economy”, this year’s IMKL focused on economic reform and explored the Government’s various strategic roadmaps toward building a more resilient, future-proof Malaysia.
Some of the topics covered included the 12th Malaysia Plan, the GLICs Mandate Recharge, and trade and investment. Through these capital market conversations, regulators, analysts, policy and decision makers, industry professionals as well as investors were able to gain greater appreciation and understanding of the holistic reform plans aimed at generating growth opportunities in the economy and capital market in Malaysia.
YAB Dato’ Ismail Sabri Yaakob, the Prime Minister of Malaysia who officiated the event, said that Malaysia is ready to get back on track as a regional and international investment hub. In this regard, the Prime Minister shared that the government has identified key strategies to escalate economic recovery and enhance the country’s competitive landscape for investors. The Prime Minister also shared how Malaysia plans to be carbon neutral by as early as 2050. In line with the growing commitments by companies to reduce their carbon emissions, Bursa Malaysia is working closely with government ministries to launch a voluntary carbon market.
In a special address titled ‘Investing in Resilience’, YB Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade & Industry Malaysia spoke about the progress made by the various industries and SMEs, including MITI’s efforts in strengthening trade and investment policies, and how MITI is actively participating in regional and global agreements to boost trade. The Senior Minister also shared positive growth on capital investment as well as the need for technological advancements, both of which are key elements for Malaysia to become globally competitive.
Minister of Finance, YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz gave a special address about the pathway to recovery that will continue in Budget 2022, which will be expansionary while laying the foundations for the government’s wider and longer-term reform efforts. Additionally, the Finance Minister announced that the Government would be embarking on a PLC Transformation (“PLCT”) programme for public listed companies, which would complement the recently announced Perkukuh Pelaburan Rakyat (“PERKUKUH”) programme for GLICs.
The PLCT programme, which would be spearheaded by Bursa Malaysia, aims to transform Malaysian corporates into high-performing entities by focusing on five pillars: for PLCs to be Performance Driven; to grow as Sustainable, Socially Responsible and Ethical organisations; embody Strengthened Corporate Governance; be Digitally Enabled; and contribute towards overall Nation Building imperatives. The PLCT Transformation Programme will include issuance of five digital guideline books ― one for each of the five pillars. A new book will be made available every quarter, with the full set published by December 2022. The guidelines will not be prescriptive but will be developed in consultation with corporate leaders, fund managers as well as institutional investors, to ensure that they are impactful.
YB Dato’ Sri Mustapa Mohamed, Minister in the Prime Minister’s Department (Economy) spoke about how the 12th Malaysia Plan is designed to revitalise growth, strengthen enablers, improve social security, eradicate hardcore poverty, and narrow income gaps. The Minister also touched on how to future-proof the country through digitalisation of the economy, including the development of local talent and technology during the discussion, which moderated by Tan Sri Abdul Wahid Omar, Chairman of Bursa Malaysia.
“We are honoured that the Prime Minister, the Senior Minister of International Trade and Industry, the Minister of Finance, the Minister for Economic Planning chose to share their economic reform plans at Invest Malaysia 2021. This conversation shows the concerted efforts by the various ministries in revitalising Malaysia’s economic growth and investor confidence through the various transformational and aspirational frameworks and policies,” said Tan Sri Abdul Wahid Omar.
“This global COVID-19 pandemic hits harder and faster than what our collective experience could predict. The Invest Malaysia 2021 conversation is imperative for us to understand the means by which we will create the building blocks to ensure we can succeed sustainably, far into the future,” he added.
The programme also included a special panel session titled “Refreshed Mandate, Recharged Capabilities” which featured Dato’ Amirul Feisal Wan Zahir, Managing Director, Khazanah Nasional; Ahmad Zulqarnain Onn, President & Group Chief Executive, Permodalan Nasional Berhad; Rohaya Mohammad Yusof, Chief Investment Officer, Employees Provident Fund; Gerald Ambrose, Chief Executive Officer, abrdn Islamic Malaysia Sdn Bhd; and Anand Pathmakanthan, Head of Regional Equity Research, Maybank Kim Eng. Moderated by Datuk Muhamad Umar Swift, CEO of Bursa Malaysia, the panel addressed the need to strengthen GLICs’ governance in line with ESG aspirations, while discussing investment opportunities, concerns faced by international investors, and expected benefits for economic growth and private investors.
“The topics covered today at Invest Malaysia 2021 are timely and fitting as it addresses the current challenges and issues surrounding the investment community, economy and Rakyat” said Datuk Muhamad Umar Swift. “Now is the time for collective co-operation across and beyond the financial and capital market ecosystem, which is central to the prospect of achieving a post-pandemic sustainable recovery, equitable economic growth, and shared prosperity amongst citizens.”
Fad’l Mohamed, Chief Executive Officer, Maybank Investment Bank said, “We are pleased to have partnered with Bursa Malaysia for another successful Invest Malaysia. With the world at an inflection point post-pandemic coupled with the climate crisis, there is an urgent need for reforms to future-proof the economy. The private sector and capital market play an important role in mobilising and allocating resources to support sustainable and inclusive growth.”
The half-day virtual event drew a total of 1,500 participants, comprising corporates, analysts, foreign fund managers, and institutional investors with a total estimated asset under management of USD 10 trillion. In addition, the event garnered over 1,600 views via livestreaming which includes retail investors.
Members of the public and other interested investors can view the recordings of all the sessions starting from tomorrow by 5.00 pm at: https://www.bursamalaysia.com/reference/insights/institutional_insights/sectorial_series
The next series of Invest Malaysia 2021 will be held in November 2021.