There is no question that this resurgence of economic focus will be felt across the financial markets.
The Malaysian banking system is resilient; fuel subsidies have been reinstated (which could offset potential budgetary gains from rising oil and commodity prices); the goods and services tax (GST) has been scrapped and will change to sales & service tax (SST) in September 2018; there is a renewed focus on global trade; the projected forecast reflects continued financial growth.
Many business opportunities lie ahead, specifically in the following sectors:
- Consumer products: the cancellation of GST may positively spur consumer spending
- Trading/services: positive for exporters with lower Ringgit, higher USD, and Ringgit stability
- Oil & Gas: a possible upward trend with experienced leadership guidance and global oil prices showing an uptrend
- Industrial: a possible upward trend with positive policies expected, reduced corruption and new investments
- Plantation: a possible upward trend with positive development for plantation industry and increased demand led by policymakers
- Construction: mega projects may be reviewed, in turn, impacting existing/incoming contracts
