The vaccination progress isn’t go with the plan. With evidence of mutation in India perhaps can be even elsewhere. This is going to be a prolong problem for a very long time.
The previous hypothesis of recovery is no longer in our favour. Thus, we turned cautious with the strategy of reduce debt, slow down new investment, turning more unproductive portfolio to essential like Tenaga, TM, Maybank, Alaqar REIT. Though Nestle and Dutch Lady are good choice but the PE is too high to be investable. Perhaps, Topgloves can be a good bet together even with Bursa.
We are disappointed with the information given by world government leaders and pharmaceutical Company on vaccines. With the current rate, there is no way that herd can be achieved in 2021.