EFTA Document EFTA01451041

11 December 2013 GEM Equity Strategy Outlook 2014 Malaysia - low-beta but fundamentally without merit Malaysia has become widely perceived as the lowest beta market within the GEM universe from both a macroeconomic and a more market-related perspective, although in both cases, this belies some pretty serious structural flaws. From a macro context, Malaysia runs a heft current account surplus which obviates any concern about financing despite the steady increase in outgoing FDI flows whic