WASHINGTON, April 25 (Bernama) -- An international
investment firm's very positive recommendation of Malaysia
reflects investors' confidence in the country's stable
political environment following the strong mandate given
to Prime Minister Datuk Seri Abdullah Ahmad Badawi in
the recent general election.
Second Finance Minister Tan Sri Nor Mohamed Yakcop
said here Saturday that the recommendation by JP Morgan
"is very good for us and reflects the views of
other fund managers".
A JP Morgan analyst had said that Malaysia is the only
country in Asia with an "overweight" recommendation
in view of its low political risk compared with political
uncertainties in other Asian countries.
Nor Mohamed, who is here for the World Bank/International
Monetary Fund Spring meetings which began Saturday,
has met with fund managers and business executives in
London and Washington for dialogues and discussions
on Malaysia's politics and economy.
In his meetings, he updated investors and businessmen
on the country's economic policies under Abdullah, which
is driven by productivity and efficiency, he told Bernama
in an interview.
"We're expecting growth of 6-6.5 per cent this
year, very low inflation. Meanwhile, the export, commodities
and domestic sectors are doing extremely well, including
tourism, which is attracting more than one million visitors
"With the financial crisis over and recession
out of the way, the government is implementing policies
to enable the private sector to take the lead in building
a strong and sustainable growth for the country.
"What is most exciting is that we want to create
a culture of performance within government-linked companies
such as Telekom, Tenaga, Malaysia Airlines and Sime
"They're very excited that we're moving towards
a performance-driven economy and culture across the
country to create faster growth," Nor Mohamed said.
He said investors also showed a keen interest to subscribe
in any future bond issue Malaysia planned to undertake.
"My impression is that if we come up with another
issue there will likely be an overwhelming response,"
Ambassador Datuk Ghazzali Sheikh Khalid, who attended
the meeting here, said more than 20 top business executives
who held discussions with the minister Friday night
were very eager to move forward, having heard the minister
outline measures for growth driven by the private sector.