MALAYSIA'S economy may expand faster than expected this year as surging palm oil and rubber prices create a “commodity bonanza,” Credit Suisse Group AG said.
“When planters are having a good time, it can have a huge positive on the economy,” Stephen Hagger, an analyst at Credit Suisse, said in a report today. “The commodity bonanza will likely be recycled into the economy via bonuses, casinos, property and auto purchases.”
Investors should buy shares of CIMB Group Holdings Bhd and Public Bank Bhd, while builders such as Gamuda Bhd, IJM Corp are key beneficiaries, he said. Genting Bhd and UEM Land Holdings Bhd will also gain, according to the report. - Bloomberg
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