Thursday, March 19, 2009

Market Outlook 2009

Invited by MAA Holdings Bhd to attend the Market Outlook 2009 at the Auditorium Menara MAA. Encik Muhammad Umar Swift our CEO/Group MD MAA Holding Bhd gave a opening speech. The topic of the talk : Malaysia Economy and Risk Assessment " Mind The Speed Bumps" by Ms Baljeet Kaur of KFH Research. Baljeet Kaur Grewal is Managing Director & Vice Chairman at Kuwait Finance House Research Ltd.In Her Capacity as Chief Economist,Baljeet heads the Global Economics & Research entity and is responsible for investment Banking Research House is also the only Islamic Bank worldwide with a notable Investment Banking Research presence,instrumental in promoting Islamic banking and facilitating portfolio fund movement globally.

Prior to this,Baljeet was attached to the Maybank Group Malaysia,ABN AMRO Bank and Deutsche Bank,London,with experiences ranging from Credit Structuring,Origination & Syndication and Capital Market Research.She has bored experience in investment banking,having participated in notable fund raising transactions in Asia & the Middle East.

To date,she has undertaken research in Islamic finance with a principle focus on debt capital markets and Sukuks.She has written and published numerous articles on Developing Economies & Debt Markets,World Economic Growth and GCC & SEA Economies;as well as addressed numerous international conferences & forums.

Baljeet holds a 1st Class in International Economics from the University of Hertfordshire,UK and has undertaken extensive research with the London School of Economics and international bodies.She is also the award recipient of the prestigious Sheikh Rashid al-Makhtoum award for Regional Contribution to Islamic Finance in Asia 2006.
In 2007,Kuwait Finance House was awarded"Best Research in Islamic Finance"by Dow Jones Islamic and Terrapin Group.
Kuwait Finance House is the largest Islamic banking institution by asset size in the world with its diversified range of product and services,covering full-scale corporate and investment banking,commercial banking,retail banking,asset management and direct investment in various sectors.Kuwait Finance House was voted the Worlds' 2nd Best Islamic Bank in the industry in 2006.Malaysia's first foreign Islamic Bank,Kuwait Finance House(Malaysia) Berhad was simultaneously voted Best New Islamic Bank and the second Most Innovation Islamic Bank for 2006.
Some of her hi lite are Malaysia currently facing the economy and political risk. Visibility is low for the next 6 months. Her projection for the KLCI at year end at 915 points. Some analyst predict from 700-950. Manufacturing is the worst performance . Service sector such as banking and insurance is OK. Conventional insurance will face strong competition from Takaful operator. Growth will be driven more by the public sectors such as the 9MP and the infrastructure. Conclusion overall Malaysia is dynamic and stable and fairly manageable.