Investments in technology help Principal Asset Management adapt quickly to Covid-19
For many companies, 2020 was a devastating year with the coronavirus crisis exacting a steep toll on business and throwing many employees out of jobs. Malaysia-based Principal Asset Management Bhd was one of the more fortunate ones. One of the top.
To continue reading this article, you need a subscription to view this article. Log in below or buy a subscription to enjoy unlimited access to www.asiaasset.com s quickly growing 7,000 article database. Log In to Access This Article Remember Me
Touch n Go launches GO+ thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.
“Also, with the low interest rates, loan moratorium and financial insecurity, they will be looking to build a financial buffer, ” country manager of StashAway in Malaysia Wong Wai Ken (file pic) told StarBiz.
PETALING JAYA: Asset management firms appear to be witnessing encouraging growth as people look for various avenues to park their money amid the uncertain economic outlook brought on by the Covid-19 pandemic.
The prevailing environment seems to bode well for such companies due to the low interest rates environment, among other factors.
“People are spending less and they would have more deposits. There are less expenditures on restaurants and travel, so naturally they would have more savings.
Strongest FBM KLCI earnings growth likely since 2014
PETALING JAYA: Optimism over the Covid-19 vaccine developments and improving corporate earnings will continue to drive global equity markets including Malaysia in 2021, say analysts.
AmFunds Management Bhd (AmInvest) equities head Andrew Seah Saik Weng is projecting a double-digit rebound in corporate earnings, and retail participation is expected to stay strong.
“We are hopeful of foreign inflows in anticipation of a weaker US dollar versus emerging markets’ currencies, ” said Seah, who was among the presenters at the “What and Where To Invest 2021” online event organised by FSMOne Malaysia.
On the bond market, Seah noted that accommodative monetary policies are likely to continue to prevail with the overnight policy rate (OPR) could be maintained at its all-time low at 1.75%, although this scenario is still data dependent.
CIMB appoints Paul Wong to head Thai operations CIMB Thai’s incoming president and CEO, Wong
PETALING JAYA: CIMB Group Holdings Bhd has appointed group COO Paul Wong Chee Kin (
pix) as CIMB Thai’s president and CEO effective Feb 1, 2021.
He will succeed Sutee Losoponku, who held the position of acting president & CEO since September 2020 following the departure of the previous CEO Adisorn Sermchaiwong. With Wong’s appointment, Sutee will remain with CIMB Thai under the role of advisor to president & CEO up to Dec 31, 2021.
The group stated that these appointments have received approval from Bank of Thailand.
Currently, as the group COO, Wong oversees activities across functions in the areas of payments and digitalisation as well as strategy, customer delivery and process improvements. In his career with CIMB, he has assumed various roles within the group including stints in the Philippines and Singapore, and also served in Principal Asset Management Bhd board.