Key View

• Astro's traditional DTH TV business will see sustained declines as cannibalisation by IPTV and competition from OTT services intensify.
• Uptake of IPTV contingent on growth and affordability of broadband connections.
• LTE to drive consumption of media through mobile platforms.

Pay-TV player Astro Malaysia Holdings recorded a 48%

Key View

• We maintain our 2018 and 2019 fiscal deficit forecasts, which both stand at 3.7% of GDP, as the fiscal situation in 2018, such as the reversion to SST, is unfolding largely according to our expectations thus far.
• As for 2019, we acknowledge upside risks to our forecast from a moderation in the populist tone of the government but will

Key View

Buoyed by the populist policies introduced by the Malaysian government along with an expanding economy, low levels of inflation and unemployment, consumer spending is strong in 2018. High frequency indicators also point to the health of the Malaysian consumer with consumer confidence and retail sales picking up since the beginning of 2018

Key View

• Malaysia's Pakatan Harapan coalition government is showing signs of strain, which poses downside risk to policymaking and reform.
• Recent events suggesting greater strain between coalition members include contentious Parti Keadilan Rakyat's (PKR) internal party elections, Prime Minister Mahathir Mohamad's apparent slight against the PKR

Key View:

• Malaysia's residential and non-residential buildings sector will grow by 4.4% in real terms in 2018 and at an annual average of 3.7% between 2018 and 2027, a relative slowdown from the 6.0% growth seen in 2017.
• The cancellations and suspensions of major rail projects, including the Singapore-Kuala Lumpur High-Speed Railway and the

BMI View: Malaysia's economy grew by 5.8% y-o-y in Q217, bringing H117 growth to 5.7%. Continued strong demand for electronics will bode well for exports while higher oil prices will be supportive of overall growth. In addition, the increase in election-related spending will provide a boost to headline GDP growth, while domestic demand is likely to

BMI View: The tie-up between Geely and Proton would provide a much needed capital injection to the struggling Malaysian car maker as well as offer access to new vehicle platforms, powertrains and technologies. Geely will benefit from access to Proton's under-utilised domestic manufacturing facilities which it could use as a production and export