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The other event to look for is Malaysia.

PM Najib Razak will be presenting the 2016 budget


today. What to watch for? GST increase; cut in corporate tax rate market looking for 1
percentage point cut; aid to SME; higher minimum wage; cash assistance to households;
affordable housing; and finally infrastructure spending and this is a tricky one. The local experts
said government may rely heavily on GLCs to spearhead the economy via investments and new
projects that are financed off-budget. This will turn towards 1MDB. Questions have been raised
and got nowhere.

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