MANILA, Philippines–Investment bankers from Malaysia are considering expanding their presence in the Philippines, which is deemed as an ideal investment destination in the Asean given the stellar performance of the local economy.
The Malaysian investment bankers, who were in the country early this month for a two-day visit, said their interest was buoyed by the steady growth of the Philippine economy.
The bankers, led by MIDF Amanah Investment Bank economic research department chief Maslynnawati Ahmad, said they expected the Philippine economy to remain strong in the next two 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,” Ahmad was quoted as saying in a statement issued by the Trade Office of the Malaysian Embassy in Manila (Matrade Manila).
Ahmad 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.
Ahmad said these financial institutions had stakes in many big Malaysian companies, and were looking at the Philippines for prospective investment opportunities in certain sectors including food, retail, and agriculture.
“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,” Ahmad said.
She said the group was also looking at the “massive untapped potential of Mindanao, mainly in agriculture supply chain.”
Matrade Manila Commissioner Nyaee Ayup added that there were also Malaysian investors who were keen on conducting oil and gas explorations in the Philippines.
The Malaysian government earlier sought closer economic ties and increased bilateral trade and investments with the Philippines.