By Rosemarie Khoo Mohd Sani
KUALA LUMPUR, Feb 5 -- Long-term planning will be required to rebuild wealth as economies globally stabilise in the post-COVID-19 era, said Jersey Finance, a leading international finance centre (IFC).
Jersey Finance Middle East, Africa and India director and senior lead on Islamic finance, Faizal Bhana said many families were clearly directly impacted by the pandemic, with either some of their business operations collapsing or slowing down.
“With that being fresh in the mind, families are now looking to ensure robust planning for the future to ensure preservation and protection of their legacy and wealth,” he told Bernama.
In terms of asset class interest, Faizal said real estate remains a firm favourite, with equities, especially listed equities, gaining rapid interest.
“Besides, private equity is also seeing increased interest as valuations are at a historical low for selective sectors while equity funds remain a popular option,” he said.
Faizal noted that people globally, including the high net worth individuals, are not excluded from the economic downturn resulting in lower cash flow.
“Those who have previously put off long-term planning, including for their investments, are now being forced to plan for the future.
“This is the case both as a wealth preservation play and to ensure sustained, predictable and safe growth,” he said.
Malaysia’s economy has begun to recover, any emergence of new COVID-19 variants could potentially push the economy back into a stop-start situation, according to experts.
They also said that as travel restrictions ease and industries work to resume full operations in 2022, multinational companies that have invested in Malaysia in the last two years are projected to expand and increase their operations in the coming year, leading to more job openings.
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