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Monday, January 20, 2014

Prudent savers and investors

Published: Thursday January 16, 2014 MYT 12:00:00 AM 
Updated: Thursday January 16, 2014 MYT 9:13:56 AM

PETALING JAYA: Malaysians are more optimistic of achieving their financial goals compared to those in Vietnam, Thailand and Singapore.

According to the Nielsen Global Survey of Saving and Investment Strategies, 74% of Malaysians believe they can achieve their financial goals, with 49% taking the pro-active approach of saving or investing. In South-East Asia, Indonesians and Filipinos are more optimistic than Malaysians, with 88% and 83%, respectively.

Vietnam (72%), Thailand (71%) and Singapore (65%) trail closely behind Malaysia.

“Recent events such as price increases on certain essential goods and utilities, coupled with the upcoming introduction of GST in April 2015, are affecting Malaysian consumers’ financial planning, and encouraging them to proactively review their financial planning,” said Nielsen financial services (Singapore and Malaysia) head Luca Griseri in a statement.

Around 71% of Malaysians commit at least 20% of their monthly income towards achieving their financial goals, compared to 62% for the Philippines and Vietnam, Singapore (61%), Indonesia (58%) and Thailand (51%).

“It’s encouraging to see Malaysian consumers planning ahead when it comes to their finances and having set targets for savings and investments ” said Griseri.

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