Kenanga Research urges investors to seek refuge in domestically-driven sectors

TheStar Fri, Dec 02, 2022 12:07pm - 1 month View Original

KUALA LUMPUR: Believing that the unity government will be supportive of domestic consumption, Kenanga Research has advised investors to seek refuge in domestically-driven sectors including banks, telcos, automakers/distributors, mid-market retailers and construction, amidst rising external headwinds.

The research house holds the view that under the new "unity” government based on the power-sharing model, the prevailing policy inclinations are likely to remain at least over the immediate term.

This includes the pro-business stance, protectionism for local industries, business-as-usual for government-linked companies and strong fiscal support to the economy, including cash handouts and fuel and food subsidies.

Commenting on the corporate earnings report card for the third quarter of calendar year 2022 (Q3 CY22), Kenanga Research said corporate Malaysia has delivered a set of encouraging results.


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