YB Senator and Malaysia’s Finance Minister II Datuk Seri Amir Hamzah Azizan (centre), Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour (fourth from right), UOB deputy chairman and CEO Wee Ee Cheong (fourth from left), UOB Malaysia chief executive officer Ng Wei Wei (third from right), during an engagement session with investors hosted at UOB Plaza 1 in Singapore on July 26, 2024. They were accompanied by UOB Malaysia senior economist Julia Goh (left), JPMorgan head of global corporate banking Malaysia, Zilhazmir Hamzah (second from left), JPMorgan co-head of global corporate banking APAC (Asia Pacific) Oliver Brinkmann (third from left), CIMB Singapore CEO Victor Lee (right), and CIMB co-CEO, group wholesale banking Chu Kok Wei (second from right).

KUALA LUMPUR (July 31): Malaysia held an investor engagement session in Singapore last week to strengthen investor perception and sentiment towards the country and to provide comprehensive insights into the government’s growth strategies, economic outlook, and fiscal reforms.

The session, jointly supported by UOB, CIMB, and JPMorgan, was held on July 26 at UOB’s headquarters at UOB Plaza 1, Singapore. It featured presentations and discussions led by Malaysia’s Finance Minister II Datuk Seri Amir Hamzah Azizan and Bank Negara Malaysia governor Datuk Seri Abdul Rasheed Ghaffour.

Over 100 participants, including financial investors and capital market players, attended the session, which also delved into the implementation of the Madani Economic Framework, providing investors with detailed explanations on the progress of key government policies and Malaysia’s overall economic strategy, according to a joint statement on Tuesday (July 30). 

Amir Hamzah said that the Madani Economic Framework will restructure the economy and raise Malaysia’s growth within the next 10 years. It aims to strengthen fiscal sustainability through more transparent and resilient fiscal management; attract quality investments, particularly in new growth areas; advance green growth to support the transition to a low-carbon economy; and build a prosperous, inclusive society through more targeted policies.

“A positive outlook from analysts and rating agencies, supported by encouraging economic figures, shows Malaysia is making great strides to reclaim its Asian Tiger status,” he said.

UOB Malaysia chief executive officer (CEO) Ng Wei Wei said that UOB will continue to play a “meaningful” role in facilitating investments into the country, as part of its commitment to support the nation’s economic advancement. “Based on the UOB Business Outlook Study 2024, Malaysia is the top country that businesses in Asean and Greater China want to venture into in the next three years”. 

“The session is a pivotal opportunity to advance robust economic relations with all stakeholders and promote collaborations between all parties to align towards shared objectives and mutual benefits,” said co-CEO of group wholesale banking at CIMB Group Chu Kok Wei. 

“Engagements such as this not only strengthen existing partnerships but also pave the way for effective strategies and sustainable economic growth for Malaysia,” Chu added.

Policy reforms, data centre investment and infrastructure build-out have become key tailwinds for Malaysia, according to JPMorgan Chase Bank Bhd CEO Hooi Ching Wong. 

“We see Malaysia as a bright spot amid tight global financial conditions. With a combination of resilient GDP (gross domestic product) growth and a sizable current account surplus, the country can offset global headwinds and exceed global GDP growth this year. We’re grateful for the opportunity to help promote this initiative and express our ongoing support for Malaysia’s efforts to further boost growth and the economy,” Hooi added.