Perhaps most interesting from the perspective of local developments was his statement that the positive outlook is in part due to the removal of political uncertainty, referring to pre-GE13 concerns that a fractured Pakatan Rakyat could destabilise the country if it took Putrajaya.
Although diplomatic about his choice of words, Andrew was clearly saying that investors favour Barisan Nasional's firm grip on the economy over the limp hand of Pakatan.
The man we can thank for that is Prime Minister Datuk Seri Najib Razak, who time and again has wooed investors with his far-reaching vision for Malaysian prosperity.
It is under his guidance that Malaysia's economy has reached the resilient position it is in now – one that CIMB Group Chief Executive Datuk Seri Nazir Razak said this week would even be able to fend off possible "hot money" outflows that experts say are looming for the region.
Nazir said it seemed likely that the Quantitative Easing measures from the U.S. would result in temporary volatility in ASEAN financial markets, but that "our economies and financial systems are strong" and the hard lessons learned from the Asian Financial Crisis in the late 1990's meant that Malaysian financiers could respond quickly, collectively and sensibly.
"Malaysia is probably one of the least to be affected. This is ironic because we now worry about the recovery and the rising interest rates in the US, and consequently what we call the 'risk-off' trade, which results in a large sum of money flowing out of Asia," he explained.
According to the United Nations it is not just Malaysia but the whole of Southeast Asia that is looking forward economically.
The UN's Economic and Social Commission for Asia and the Pacific (UNESCAP) recently released the results of a survey that noted regional growth of 5.3 per cent last year – up 4.5 per cent from the previous year despite continued global uncertainty.
On Malaysia, the report noted concerted Government initiatives were having a positive impact.
"Private consumption growth accelerated on buoyant job markets, low inflation and government initiatives, such as civil servant salary hikes and one-off cash assistance to lower-income households," it read.
"Similarly, fixed investment growth surged to a multi-year high pace on public infrastructure spending and firm private investment benefiting from the ongoing structural reform agenda to achieve high-income country status by 2020 (Vision 2020)."
Najib’s Fiscal Leadership Bodes Well for Malaysia’s Economy
- Friday, 21 June 2013
- Newsdesk
Perhaps most interesting from the perspective of local developments was his statement that the positive outlook is in part due to the removal of political uncertainty, referring to pre-GE13 concerns that a fractured Pakatan Rakyat could destabilise the country if it took Putrajaya.
Although diplomatic about his choice of words, Andrew was clearly saying that investors favour Barisan Nasional's firm grip on the economy over the limp hand of Pakatan.
The man we can thank for that is Prime Minister Datuk Seri Najib Razak, who time and again has wooed investors with his far-reaching vision for Malaysian prosperity.
It is under his guidance that Malaysia's economy has reached the resilient position it is in now – one that CIMB Group Chief Executive Datuk Seri Nazir Razak said this week would even be able to fend off possible "hot money" outflows that experts say are looming for the region.
Nazir said it seemed likely that the Quantitative Easing measures from the U.S. would result in temporary volatility in ASEAN financial markets, but that "our economies and financial systems are strong" and the hard lessons learned from the Asian Financial Crisis in the late 1990's meant that Malaysian financiers could respond quickly, collectively and sensibly.
"Malaysia is probably one of the least to be affected. This is ironic because we now worry about the recovery and the rising interest rates in the US, and consequently what we call the 'risk-off' trade, which results in a large sum of money flowing out of Asia," he explained.
According to the United Nations it is not just Malaysia but the whole of Southeast Asia that is looking forward economically.
The UN's Economic and Social Commission for Asia and the Pacific (UNESCAP) recently released the results of a survey that noted regional growth of 5.3 per cent last year – up 4.5 per cent from the previous year despite continued global uncertainty.
On Malaysia, the report noted concerted Government initiatives were having a positive impact.
"Private consumption growth accelerated on buoyant job markets, low inflation and government initiatives, such as civil servant salary hikes and one-off cash assistance to lower-income households," it read.
"Similarly, fixed investment growth surged to a multi-year high pace on public infrastructure spending and firm private investment benefiting from the ongoing structural reform agenda to achieve high-income country status by 2020 (Vision 2020)."
Friday, 21 June 2013
Newsdesk
Najib-Razak-Davos
KPMG Global Chairman Michael Andrew has heaped praise on Malaysia's financial outlook and governance by stating that the country is well positioned for major growth in the second half of this year.
Perhaps most interesting from the perspective of local developments was his statement that the positive outlook is in part due to the removal of political uncertainty, referring to pre-GE13 concerns that a fractured Pakatan Rakyat could destabilise the country if it took Putrajaya.
Although diplomatic about his choice of words, Andrew was clearly saying that investors favour Barisan Nasional's firm grip on the economy over the limp hand of Pakatan.
The man we can thank for that is Prime Minister Datuk Seri Najib Razak, who time and again has wooed investors with his far-reaching vision for Malaysian prosperity.
It is under his guidance that Malaysia's economy has reached the resilient position it is in now – one that CIMB Group Chief Executive Datuk Seri Nazir Razak said this week would even be able to fend off possible "hot money" outflows that experts say are looming for the region.
Nazir said it seemed likely that the Quantitative Easing measures from the U.S. would result in temporary volatility in ASEAN financial markets, but that "our economies and financial systems are strong" and the hard lessons learned from the Asian Financial Crisis in the late 1990's meant that Malaysian financiers could respond quickly, collectively and sensibly.
"Malaysia is probably one of the least to be affected. This is ironic because we now worry about the recovery and the rising interest rates in the US, and consequently what we call the 'risk-off' trade, which results in a large sum of money flowing out of Asia," he explained.
According to the United Nations it is not just Malaysia but the whole of Southeast Asia that is looking forward economically.
The UN's Economic and Social Commission for Asia and the Pacific (UNESCAP) recently released the results of a survey that noted regional growth of 5.3 per cent last year – up 4.5 per cent from the previous year despite continued global uncertainty.
On Malaysia, the report noted concerted Government initiatives were having a positive impact.
"Private consumption growth accelerated on buoyant job markets, low inflation and government initiatives, such as civil servant salary hikes and one-off cash assistance to lower-income households," it read.
"Similarly, fixed investment growth surged to a multi-year high pace on public infrastructure spending and firm private investment benefiting from the ongoing structural reform agenda to achieve high-income country status by 2020 (Vision 2020)."
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