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Public Bank Bhd’s unit Public Mutual has appointed Chiang Kang Pey as its new chief executive officer following the retirement of Yeoh Kim Hong. In a statement on Monday (Nov 14), the fund manager said Yeoh had held the position for the last 15 years. ....
KUALA LUMPUR (May 17): Fund managers expect Malaysia s gross domestic product (GDP) to grow at about 6% or lower this year on the back of the resurgence of Covid-19 cases, as compared with the central bank’s forecast of 6.5% to 7%. However, the local economy and markets are expected to benefit from global trade recovery and high commodity prices. AmFunds Management Bhd (AmInvest) chief investment officer Wong Yew Joe said the recent announcement of the movement control order (MCO) is weighing down the growth of the local economy. “The general expectation is that for every month of lockdown, it lowers about 0.3% of the GDP. We expect this year’s GDP to be dialled down to 5% to 5.5%.” ....