CIMB Group Chief Executive Officer Tengku Datuk Sri Zafrul Aziz speaks to reporters at Menara CIMB, Kuala Lumpur August 29, 2018. — Picture by Miera Zulyana
Group chief executive officer Tengku Datuk Seri Zafrul Aziz said following the size of capital expenditure this year, the group is anticipating a flat return on equity growth for FY19. He noted that market correction, in terms of cash flow related to emerging markets as well as the knee-jerk reaction from FTSE Russell’s warning that it may drop Malaysian debt from the World Government Bond Index, has triggered the current capital market cash outflow.
“They also need to take into consideration that Malaysia’s bond market is very deep, and in the worst case scenario, if they decide to take Malaysia out of the index, there are still other benchmarks that investors should refer to, a true benchmark that reflects Malaysia’s position,” he said.
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