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Cautious on rebound

Wednesday, 27 Jan 2021 UOB Francis EngUOB Asset Management (M) Bhd chief investment officer Francis Eng said that the long road to recovery would hinge on the duration of the second movement control order (MCO 2.0) and whether stricter measures are enforced. KUALA LUMPUR: The surge in Covid-19 cases in Malaysia could possibly delay the recovery in Malaysia’s economy to 2022, says UOB Asset Management (M) Bhd chief investment officer Francis Eng. He pointed out that the long road to recovery would hinge on the duration of the second movement control order (MCO 2.0) and whether stricter measures are enforced. “There is a possibility that we have to wait until next year for the economy to get back to pre-Covid-19 levels.

Kuala lumpurJoe bidenFrancis engFitch ratingsBank negara malaysiaMalaysian government securitiesMco 2 0குவாலா லம்பூர்ஓஹோ பிடென்பிரான்சிஸ் எஂக்ஃபிட்ச் ரேடிஂக்ஸ்வங்கி நெகாரா மலேசியாமலேசியன் அரசு பத்திரங்கள்

Economic recovery, OPR cut hinge on how MCO 2 0 unfolds, says asset manager

Eng says Malaysia’s economic recovery is uneven Lim says focus on ESG issues is here to stay PETALING JAYA: The unfolding movement control order 2.0 (MCO 2.0) introduced to address the surge in the number of Covid-19 positive cases in Malaysia will be a key factor for economic recovery, according to UOB Asset Management (Malaysia). Its chief investment officer Francis Eng views the country as going through some uneven recovery with a possibility to bounce back to pre-pandemic levels in 2022 or later this year, depending on how MCO 2.0 unfolds, as the situation is very fluid and difficult to predict. For Asia, he anticipated a recovery to pre Covid-19 levels to take place in 2021, led by China.

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