Sign up | Log in



Home  >>  Daily News  >>  Malaysia News  >>  Economy  >>  Rich Malaysians escape financial crisis unscathed - survey
NEWS UPDATES 11 December 2009

Rich Malaysians escape financial crisis unscathed - survey

Related Stories

December 4, 2009
Malaysia has no need for third stimulus package - experts

November 29, 2009
Malaysia: New tax plan to diversify revenues

November 19, 2009
Malaysia: Growth seen at 5% in 2010

November 13, 2009
Analysts predict Malaysia GDP to reach 3.2% in 2010

November 1, 2009
Malaysia: Govt won’t revise credit card tax policy

October 24, 2009
Malaysia cuts 2010 budget by 11%

The net worth of affluent Malaysians for the second half of the year increased 55 percent compared with the advance of 35 percent in the first half, reported the StarBiz daily, quoting a survey by the HSBC Affluent Asian Tracker, conducted by Nielsen for the HSBC group.

The banking group said the survey results showed a clear indication that savvy, affluent Malaysians came through the financial turmoil at the end of 2009 relatively unscathed.

Regionally, mainland China led the wealth surge in Asia with a reported 70 percent rise in net worth in the second half of the year against 46 percent in the first half.

HSBC Bank Malaysia Bhd personal financial services general manager Lim Eng Seong said affluent Malaysians were fast becoming savvy about growing and managing their newly-earned wealth.

“Riding on Asia’s recovery and improved market sentiment, the affluent in the country are regaining their confidence as investors and are providing momentum towards a more robust wealth management market in Malaysia,” he said.

Lim noted that growing affluence was the key driver for investment activity and diversification of asset holdings.

“While market sentiment will continue to remain an important driver, other factors will influence the psyche of the affluent Malaysian investor,” he said.

The survey showed that advice from independent financial advisors (involving 53 percent of respondents), financial media (40 percent), friends (29 percent), banks (28 percent) and family (27 percent) played a key role in shaping their investment portfolios.

The study also revealed that the majority of Malaysian respondents (89 percent) gained their wealth through employment.


Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below 





1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand