MANILA– Given the stellar performance of the local economy, Malaysian investment bankers are looking at expanding their presence in the Philippines.
The investment bankers visited the country earlier this month and witnessed the steady growth of the Philippine economy.
Led by MIDF Amanah Investment Bank economic research department chief Maslynnawati Ahmad, their expectations that the economy will remain strong will go on for the next couple of years.
“The Philippine economic condition is likely to moderate, but will stay strong near its potential growth of about 6 percent. It may remain as one of the fastest-growing country in the region in the next one to two years,” said Ahmad in a statement provided by the Trade Office of the Malaysian Embassy in Manila (Matrade Manila).
She was joined by MIDF Institutional sales head Azlinda Sahnan; Permodalan Nasional Berhad (PNB) Research and Technology Analysis department manager Yasmine Merican; PNB Investment senior analyst Adora Asyikin; Philip Capital Management Sdn Bhd. (PCM) chief investment officer Ang Kok Heng; PCM senior investment analyst Ng Chia Nee; and, Amanah Raya Investment marketing and investment services head Rusli Abu Yamin.
According to Ahmad, majority of these institutions have stakes in big Malaysian companies. They are exploring the Philippine market for possible investment opportunities in select sectors which include agriculture, retail, and food.
“My personal view as economist (is that) most Malaysian companies that are looking into the Philippines would focus on products or services catering to domestic consumers, such as retail, food industries, health, roads, transport, water sanitation and sewerage infrastructure, housing,” said Ahmad.
She added that the group was also considering the “massive untapped potential of Mindanao, mainly in agriculture supply chain.”
Matrade Manila Commissioner Nyaee Ayup noted that there are also investors who are looking at the possibility of conducting oil and gas explorations in the Philippines.
Earlier, the government of Malaysia sought tighter economic ties and increased mutual trade and investments with the country.