James Hay Benedicte Gravrand, Opalesque Geneva:
Several investors and economist have turned bullish on Malaysia of late. For example, brokerage company CLSA's equity strategist Christopher Wood said, according to Barron's, that "the 1MDB scandal and the central bank's decision to disallow foreigners to hedge in the currency futures market have caused great damage to Malaysia's reputation. The ringgit is now 'extraordinarily cheap.' It is now cheaper than even at the worst point of the Asian Financial Crisis, in terms of real effective exchange rate. So for dollar-based foreign investors, buying Malaysian stocks means not only capital gain from stocks, but also favorable movements in the ringgit."
Hong Kong-based Value Partners Group's chairman and co-CIO Datuk Seri Cheah Cheng Hye, also known as the Warren Buffett of Asia, said he was getting more bullish on Malaysia, reported The Star. After the ringgit's three-year decline, the currency has started to show signs of reviving this year, he said. "Until recently, our only investments in Malaysia have primarily been in plantations, because palm oil is an internationally traded commodity quoted in US dollars.
"So, palm oil has in fact benefited and......................
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