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|The ASEAN flag (Photo: thcasean.org)|
Kuala Lumpur – With its young population that promises a vibrant economy, the Association of Southeast Asian Nations (ASEAN) will continue to be a supportive and attractive investment destination in the long term, UOB Asset Management Malaysia Chief Executive Officer Lim Suet Ling has said.
Addressing a panel session at the Invest ASESN 2022 titled “Markets and Smart Money: Fight or Flight”, Lim said that being the fourth largest economy with over 600 million people, ASEAN has grown to be more educated and has an advantage as one of the biggest manufacturers in the global supply chain.
With the COVID-19 lockdowns in China, there is diversification in supply chain and Malaysia is benefitting from it especially on the electronic and electrical (E&E) side.
She stressed that trade agreements among ASEAN countries could also be strengthened by forging deeper collaboration to create better investment opportunities.
Lim advised investors to be more defensive while staying cautious in their holdings for the time being, saying they should move more towards utilities or assets that has regular income.
To enhance Malaysia’s position as a preferred investment destination, Lim hopes to see more Internet unicorns appearing or being listed.