In Maybank’s 2024 Feng Shui report, the bank’s head of research in Kuala Lumpur, Malaysia, Mr. Thilan Wickramasinghe, along with Feng Shui expert Ken Koh, provided an assessment of sectors likely to prosper and face challenges this year.

Prosperous Industries in the Year of the Wooden Dragon:

2024, being the year of the “wooden dragon,” is characterized by positive energies symbolizing masculinity, bold decisions, and far-reaching choices. As the beginning of a new 20-year Feng Shui cycle, the dominant element is fire. Industries associated with fire elements, such as technology, artificial intelligence (AI), energy, pharmaceuticals, and insurance, are expected to thrive. Fire represents economic activity, faith, and optimism, making these sectors favorable. Maybank predicts a surge in business confidence, leading to increased activities like mergers, acquisitions, and IPOs from June onwards.

However, the report also warns that the first year of a new energy cycle for fire-element industries often brings about challenging changes and transitions.

Earth and Metal Industries:

Earthly industries, including waste management, real estate, data storage, and urban agriculture, are expected to benefit from the dominance of the fire element. Despite high-interest rates and rising costs due to inflation, these industries have proven stability and are anticipated to grow.

Metal-based industries, such as banking, engineering, mining, and automobiles, will prosper due to the wood element influence in the Year of the Dragon. Maybank sees great investment opportunities in these sectors, particularly in the first half of the year.

Challenging Sectors in 2024:

While the fire, earth, and metal sectors are predicted to benefit, water and wood sectors may face challenges.

• Water Element: Businesses associated with the water element, including shipping, airlines, cruise ships, accommodation services, and theme parks, may face difficulties due to changes in consumer demand. The shipping industry, in particular, could encounter obstacles in some sea routes. However, fishing and aquaculture industries are expected to experience growth.
• Wood Element: Industries belonging to the wood element may struggle in 2024 due to the strong influence of fire, earth, and metal elements. Bright spots include education sectors, fund management, and estate management offices. These industries are advised to focus on sharing experiences, making knowledge transparent, and achieving quick success to navigate challenges.

Maybank emphasizes that while 2024 presents opportunities and challenges based on Feng Shui elements, businesses should be prepared to adapt to changing conditions and make strategic decisions to navigate the year successfully.