KUALA LUMPUR (Feb 14): AmInvestment Bank anticipates the Chinese New Year to boost the arrival of Chinese tourists to Malaysia, benefiting the country’s tourism industry, especially the transportation and logistics sector.

In an update on Wednesday, the research house maintained its “overweight” stance on the sector, and named Malaysia Airports Holdings Bhd or MAHB (“buy”; fair value or FV: RM8.07), and Perak Transit Bhd (“buy”; FV: RM1.49) as its top picks.

According to AmInvestment, MAHB is poised to benefit from the recovery within the aviation sector in 2024, with foreign tourist arrivals beating pre-pandemic levels on the back of stronger government policy support, such as the mutual visa waiver agreements between China and selected countries, including Malaysia.