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STAY CLEAR OF MALAYSIA, US FUND MANAGER TELLS INVESTORS?


Malaysia’s faltering economy, hit by claims of “rife corruption” at the government level, is a sign that foreign investors should steer clear, a financial adviser says today.
In an article on the website of Nasdaq, the electronic US stock exchange, Peter Kohli said previous positive news regarding the Malaysian economy had been affected by allegations of corruption at the government level.
“Malaysia’s economy is not firing on all cylinders,” he said, noting news reports in November that industrial output had slipped.
“There have been many high hopes after the last few years with regard to Malaysia being a top investment destination, but in my opinion, it has never really lived up to expectations.
“I have written previously about Malaysia becoming a manufacturing hub for companies like Hyundai, but that positive news has been tempered with allegations of rife corruption in the government.”
Kohli, who is CEO of DMS Funds, said news of a RM2.6 billion political donation transferred into Prime Minister Datuk Seri Najib Razak’s personal accounts in particular have not helped investors’ confidence.
Other factors making Malaysia unattractive were the ringgit’s position as the worst performing Asian currency against the US dollar in 2015, and the slump in world oil prices. 

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