n Malaysian equities moving to a premium valuation, both in absolute terms and relative to their own history (Figure 53 and Figure 54). IFigure 53: MSCI Malaysia - Pt-BV (x) since 2000 Figure 54: MSCI Malaysia - PIE (x) and CAPE Ix) since 2000 30 40 36 0 16 53.304 Mayas PRIV ......... .2s4. —Average PAW —.—•i