KUALA LUMPUR (July 7): Maybank Investment Banking Group has raised its 2026 gross domestic product (GDP) growth forecast for Malaysia to 4.9% from 4.4%.
In a statement, Maybank IBG noted that the economic indicators for April and May point to another quarter of growth above 5%. This is due to robust manufacturing activities and stronger net exports, as Malaysia benefits from the AI-driven technology upcycle as well as being a net energy exporter amid higher commodity prices.
“Outlook for the second half of financial year 2026 remains healthy, especially amid sustained momentum in investment approvals, particularly in technology, renewable energy, industrial real estate and infrastructure segments,” it added in the statement issued in conjunction with Maybank IBG's flagship event, Invest Asean, held on July 7-8 in Singapore.
The investment bank also raised its Asean-6 GDP growth forecast to 4.7% from its estimate of 4.5% in March, amid falling oil prices and recovering tanker traffic via the Strait of Hormuz.
Maybank IBG also set a year-end FBM KLCI target of 1,750 points, citing 7.5% earnings growth, sustained investment upcycle effects, stable consumer essentials spending and steady foreign participation.
The investment bank also upgraded its view on the technology sector as AI and data centre demand become long-term structural growth drivers.
The Invest Asean event attracted around 200 institutional investors and prime brokerage clients with a combined US$23 trillion (RM93 trillion) in global assets under management.
The event connects investors with 54 companies including a sovereign wealth fund, alongside meetings with key government bodies in Singapore. The companies are from Asean-6 markets (Malaysia, Singapore, Thailand, Indonesia, the Philippines and Vietnam) and India, representing total market capitalisation of US$553 billion.
“This year’s attendance surpassed our expectations, highlighting sustained interest from global and local investors in Asean as the region continues to demonstrate resilience amid global uncertainties,” said chief executive officer Michael Oh-Lau.
“Energy transition, supply chain reconfiguration and AI-led digital transformation are key themes at this year’s Invest Asean, and we expect these trends to continue over the next few years,” he added.