Nomura: Bullish on M’sia

In Malaysia on 14/12/2010 at 5:40 am

Malaysia is likely to benefit from a consumption boom says Nomura, “[T]he most powerful theme would be the consumption theme in Malaysia. We have added a lot of the middle class segment of the population. That really explains why we are seeing more demand for property, higher value property,”

Despite the KLCI having risen about 30% this year, Nomura analysts see 20% rise in 2011.

Nomura’s top picks in Malaysia are property, palm oil and bank stocks.Among the firm’s buy calls are CIMB, Maybank, AMMB, Media Prima, SP Setia, Sime Darby and Genting Malaysia.

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