Wealth manager bullish about Malaysia and 'lucky' Dr M

While some foreigners have dumped Malaysian stocks in the last five weeks, a fund manager sees the opportunity to buy in the stock since the fall of BN in the May 9 general election.

David Gaud, the Asia chief investment officer of the US$220 billion (RM800 billion) Pictet Wealth Management, said he is bullish about Malaysia because of higher oil prices, a recovering currency and a quickly narrowing deficit.

The new government bodes well for the country’s politics and economy, he was quoted as saying by Bloomberg.

Gaud is positive about the country's premiership under Dr Mahathir Mohamad.

"Mahathir is lucky," Gaud said. "He is able to implement new policy at a time when the economy is recovering. He’s got a chance to succeed."

Similarly, the French national also remains optimistic about the outlook in Asia. 

“You’ve got the growth that carries on,” Gaud said. “Growth is still very much present in Asia.

"This year is difficult, but it’s positively interesting," he said.

"It’s very challenging, but in the right way, because it’s clearly a year for those who are capable to have clear conviction and are able to implement it. It’s highly rewarding," he added. -Mkini