Malaysia’s economic fundamentals remain strong, says UOB Malaysia

KUALA LUMPUR: Malaysia’s economic fundamentals remain strong and election risk will be reassessed over the coming months in line with greater clarity on plans and proposed measures under the new administration.

United Overseas Bank ( Malaysia) Bhd Senior Economist Julia Goh said key highlights to watch over the next 100 days included candidates for key ministerial posts and policy measures and how the new government would deliver in areas of institutional reforms as highlighted in their manifesto.

“The incoming ruling coalition has promised fiscal reforms in the first 100 days in office to focus on federal budget and finances, asset-liability management and government debt obligations, including review of all major public projects especially those financed outside of the development project,” she said in a research note yesterday.

For the incoming government, key economic concerns of the people that needed to be addressed included the rise in cost of living, transparency and governance, she added.

On the 14th General Election ( GE14), Goh said the opposition alliance recorded a historic win and was the first time the country would witness a change of government since its independence from the British in 1957.

“The immediate concern is the uncertainty over the formation of the next government,” she added. — Bernama