GE14 no impact on Malaysia's economic fundamentals -- Alpari Research
KUALA LUMPUR, March 26 (Bernama) -- Alpari Research & Analysis Ltd, a research unit of Alpari, one of the world's leading foreign exchange brokers, is positive of Malaysia's economy as the coming general elections will not have an impact on its economic fundamentals.
Its Chief Executive Officer, Roberto d'Ambrosio, said Malaysia's economy remained resilient as it has successfully relied less on oil income.
"Malaysia is one of the best environments for foreign investors," he said in a media briefing here today.
d'Ambrosio said the ringgit, which was also expected to weaken against the US dollar at 3.90 towards year-end due to the anticipated US interest rates hike, would also boost Malaysia's competitiveness as an exporting country.
He said Malaysia should also not be concerned about the level of debt as it was below the self-imposed ceiling of 55 per cent of gross domestic product, which was relatively lower than other countries.
On the impact of the US-China trade war, he said, it was expected to ease as both economies were interconnected and relied on one another.
"However, there could be some impact if some of the products manufactured in China were to be sourced from Malaysia," he said.
Meanwhile, Chief Analyst, Tomasz Wisniewski, said rising domestic demand due to wage growth has also boosted Malaysian economy.
"The stable political situation and Bank Negara Malaysia's policy to promote foreign investments have boosted the Malaysian economy," Wisniewski said.
Wisniewski expected the benchmark FBM KLCI support level to be at 1,795 in the next few weeks.
-- BERNAMA
