Fund managers lower profit outlook for firms

VCAP Asset Managers Sdn Bhd chief executive officer Taufiq Iskandar Jamingan

PETALING JAYA: Fund managers have pared down profit expectations for Malaysian companies in the coming months due to a dimming economic outlook that weighs on corporates’ earnings and expansion plans.

Social Security Organisation (Socso) chief investment officer Datuk Dr Suzana Idayu Wati Osman, for one, has revised down the earnings forecasts for listed companies on Bursa Malaysia between 1% and 3%.