Key View

• Edwards Lifesciences’ MYR100mn investment in Malaysia confirms the country’s ongoing attractiveness as a regional medical technology hub.
• The investment will support Malaysia’s efforts to move its industry and services sectors up the value change at a time when the domestic medical device industry is seeing a slowdown in investment.
• E

Key View

• We maintain our 2019 real GDP growth forecast at 4.2%, marking a slowdown from 2018’s print at 4.7%.
• Investment growth will likely remain subdued due to base effects, while the positive impact of construction projects resuming or commencing in 2019 will see little feed-through over the remainder of the year.
• Exports will likely face

Key View

• We are revising our average exchange rate

Key View:

• We believe indecision over the fate of Chinese-backed East Coast Rail Link (ECRL) in Malaysia is a signal that both Malaysia and China are eager to strike a deal for the implementation of the project. However, high project costs will remain a significant drawback for the Mahathir administration.
• Malaysia’s motivation to maintain

Key View:

• We have made a downward revision for growth of Malaysia’s construction industry for 2019 and 2020, in view of further project cancellations.
• Infrastructure development in rural areas will continue to support Malaysia’s construction industry growth.
• We do not rule out the re-implementation of cancelled projects, if the government is

Key View

• Malaysia's 2019 budget proposes an increase in public healthcare expenditure, and the government will continue to push forward with fundamental healthcare initiatives.
• Government investment will support future growth of the pharmaceutical and healthcare industry.
• In 2017, the country’s healthcare market amounted to MYR56.3bn (USD13

Key View:

• Low-cost, mobile-only service will deliver only a modest boost to Netflix's Asian subscriber base.
• Headwinds include technological limitations and more cohesive multimedia offerings from established rivals.
• A renewed focus on locally-relevant content is a positive, but an incremental increase in depth will leave Netflix still

Key View

• We maintain our 2018 and 2019 budget deficit forecasts for Malaysia at 3.7% of GDP, remaining cautious about the government’s plans to narrow its fiscal shortfall to 3.4% of GDP in 2019.
• The greater reliance on oil revenues places fiscal consolidation at the mercy of the markets, and also in our view, the government’s projection of