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KWAP CEO sees upside potential for Bursa Malaysia in medium term

KUALA LUMPUR: The Retirement Fund Inc (KWAP), which invests about 47 per cent in public equity, is optimistic on Bursa Malaysia's outlook this year, driven by earnings growth improvement.

Its chief executive office Datuk Nik Amlizan  Mohamed said the equity market has been flattish over a decade and earnings growth potential have now improved.

"We see a lot of activities that are taking place, not only in the public equity but also also the private equity that would spur the market to continue expanding."

"I think the market will go higher compared to what we have experienced in the past but of course, it would not come without consolidation in between and so forth."

"However, I think we are on the right trajectory in terms of the upward movement overall, if you look at medium-term perspective," she said.

Chief investment officer Hazman Hilmi Sallahuddin added that there is a strong interest in foreign direct investment (FDI) and domestic direct investment (DDI) this year.

He said that the equity mrket started at a lower base and starting to ramp up."Therefore, we are very positive with the domestic equity market and hence, we are quite brave to commit more," he said.

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