COVID-19: Malaysia's capital market remains resilient | DagangNews Skip to main content

COVID-19: Malaysia's capital market remains resilient

KUALA LUMPUR 20 July - Malaysia’s capital market remains resilient, amid prudent approach taken to ensure continued stability, says Bursa Malaysia Bhd chief executive officer Datuk Muhamad Umar Swift.

In his speech during Invest Malaysia 2020 Series 2, he said the bourse has been steadfast in its intention to ensure continued and reliable access to the Malaysian capital market for immediate and long-term market confidence during these uncertain times.

Muhammad Umar Swift

“Our benchmark index (FBM KLCI) has recovered to pre-Covid-19 levels.

“Indeed, we have a strong base on which to talk about a sustainable road ahead,” he said, according to a Bernama report.

Invest Malaysia 2020 themed ‘Recover, Advance, Sustain’ with Series 1 titled ‘Economic Recovery: Policies and Opportunities and Series 2 titled ‘Powering Malaysia’s Growth Engines’. Participants included players from infrastructure, palm oil and rubber gloves sectors.

“We look forward to understanding the government’s approach to reviving the deferred high-impact infrastructure projects, as well as facilitate growth in palm oil and rubber gloves sectors in view of their importance to drive Malaysian exports,” Muhamad Umar said.

He said the revival of mega infrastructure projects is set to boost the construction sector and potentially power Malaysia's economic growth.

The construction sector is broadly interlinked with over 140 sub-sectors.

In addition, Malaysia’s is one of the world leaders in the palm oil industry with a 26% market share. 

“I believe Malaysia is in a strong, sustainable position for doing the right things. The renewed commitment to the B20 biodiesel policy will have the potential of bringing the palm oil industry back to its glory days,” he said.

In addition, Malaysia supplies 67% of medical gloves to the world and moving forward, the industry is poised to experience elevated long-term growth.

“Malaysia has proven that it can move swiftly and in tandem to address the challenges COVID-19 posed to the health of all Malaysians and those residing in our country,” he said. -