14 Additional Information We Are Kenanga Leadership Message Our Sustainability Approach How We Are Governed Financial Statements Shareholders’ Information GROUP MANAGING DIRECTOR’S MANAGEMENT DISCUSSION AND ANALYSIS The macroeconomic and political environment in 2022 were amongst the most challenging in recent history. Capital markets were particularly impacted by aggressive interest rate hikes by central banks globally, implemented to combat inflation caused by global supply chain disruptions. The Russia-Ukraine crisis also started in the early part of the year and is still ongoing. Recession fears loomed on the horizon, exacerbating market jitters. On the domestic front, the Malaysian economy rebounded towards the middle of the year with the easing of restrictions and reopening of borders as it transitioned to COVID-19 endemic phase. While Malaysian Gross Domestic Product (“GDP”) grew 8.7%, the negative global macro sentiments weighed on investors’ appetite, which sparked heavy sell-offs. After two (2) years of exceptional trading activities on the bourse, Trading Volume and Trading Value on Bursa Malaysia dropped by 49.1% and 40.8% respectively. DEAR SHAREHOLDERS,
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