Business

Minister blames those behind negative reports for Malaysia’s investment woes

Datuk Darell Leiking

Syndicated News
Written by Syndicated News

ALOR SETAR, May 14 2019 : There may be elements that portray Malaysia as an unfavourable destination for investors in the wake of negative reports on the country, with one saying that global funds are bypassing Malaysia in favour of other markets.

International Trade and Industry Minister, Datuk Darell Leiking, said despite these negative reports, many investors are actually still coming to invest in Malaysia.

“We take the (allegations as a) challenge…our prime minister (Tun Dr Mahathir Mohamad) always advised us not to fight, but we should show them what we can do.

“When you are doing the right thing, obviously, there are always people who will condemn it because they know you will succeed,” he said after a meeting with Kedah Menteri Besar Datuk Seri Mukhriz Tun Mahathir at Wisma Darul Aman here, today.

Leiking was commenting on a Bloomberg report yesterday which alleged that global funds are bypassing Malaysia in favour of other countries as they failed to see reforms as promised by the Pakatan Harapan government.

Stocks in Malaysia recorded outflows in all but two of the past 12 months, while the ringgit trailed most of its peers, the financial news company said in its report.

Leiking said in the case of Malaysia, the country is lead by a very able prime minister to guide his cabinet members to ensure that they do the right thing and avoid mistakes.

“At the same time, we are enticing the investors with an attractive environment, and various facilities that each state has,” he said. – Bernama

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