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 Business

Malaysia to see more fund inflows

16th May, 2018

KUALA LUMPUR: The steps taken by the new Pakatan Harapan government to remove political uncertainty, including the setting up of the Council of Eminent Persons, will see more fund flowing into the country.

Aberdeen Asset Management Chief Executive Officer Martin Gilbert said the country’s economic environment is positive compared with the situation before the recently concluded 14th General Election.

“Generally, it is good news. Following the establishment of the council, which includes the former Bank Negara Malaysia governor, both foreign and local fund managers are reassured of a stable economy,” he told reporters after the meeting between Tan Sri Zeti Akhtar Aziz and 180 fund managers here Tuesday.

Gilbert said the meeting was very useful with the world’s longest serving central bank governor giving her input on the current economic issues in Malaysia, plans going forward and her role in the council.

“With her knowledge of the financial markets, I think this will make global asset managers look more closely at Malaysia going forward,” he said.

Asked on rating agencies’ concern on Malaysia’s ability to fill the revenue gap without the Goods and Services Tax, he said these agencies would have to look at the economy as a whole.

“The great thing for Malaysia is that all of the (economic) dynamics and growth are good.

“However, we will have to wait for the government’s plans,” he added.

Aberdeen Asset Management has US$800 billion (US$1 = RM3.95) assets under management, with US$5 billion invested in Malaysia. –Bernama

   
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