Wednesday, March 24, 2010

PM: M’sia will address needs of foreign fund managers

HONG KONG: Datuk Seri Najib Tun Razak has given the assurance that Malaysia will address the needs of foreign fund managers for increased liquidity plus good and well-governed listed companies in making the local equity and capital markets more attractive to portfolio investors.

The Prime Minister also told top-notch fund managers at the Credit Suisse investment conference yesterday that there were huge prospects for them in equity and capital markets as well as for foreign direct investors, given the ongoing and unprecedented transformation of the Malaysian economy.

He cited how Malaysia’s quest to transform itself into a high-income and developed nation by 2020, and its liberalisation initiatives – Government Transformation Plan and the New Economic Model (NEM) – offered immense opportunities, making it more positive for them to invest.

“We are committed to (economic) reforms and overcoming structural problems facing the economy,” he told a press conference after addressing a luncheon session at the conference, attended by regional fund managers.

The event was moderated by former British prime minister Sir John Major, who is also special adviser to Credit Suisse.

Najib said he was pleased with the outcome of discussions with regional fund managers earlier and the luncheon moderated by Major, as he was able to expound on Malaysia’s investment attributes.

“The purpose of my visit to Hong Kong is to tell the Malaysian story, which is a good story to tell, so that it would be seen as an attractive destination for equity and capital market investment and foreign direct investment,” he said. — Bernama

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