Clear economic policies long overdue


YOURSAY | ’Start by telling investors where we are heading.’

Fact-check: Maybank statement on ‘PM’s unclear policies’ is real

BusinessFirst: First of all, no government is perfect.

Secondly, Prime Minister Anwar Ibrahim’s supporters should take note that not all Malaysians agree with you.

We may not support Perikatan Nasional (PN) because they are terrible in so many ways, but that is not a ringing endorsement of Anwar.

Third, Maybank Investment Bank’s statements to their customers are one of several views.

Other banks issue statements too. For your information, most people concur with this opinion.

I mean, what on earth are his policies that we can point to other than to win Malay votes and throw cash around?

I am not making any judgements, but from an investment perspective, what has this government done, other than talk?

Have taxes gone down? Are there new incentives to perhaps help small and medium-sized businesses (SMEs) develop? Any new loans for business start-ups?

I see money thrown around to save Felda, increase civil servants’ pay, and help Kelantan’s water supply, but how are these policies to generate growth?

Stating the truth would be helpful to this government. So they can know that their die-hard supporters’ constant praising and defence are not helpful, because to win you need to get a majority of voters to come with you.

Listening to how great you are constantly will lull you into thinking that you are doing a great job when you are not.

Apanama is back: Honesty and integrity are rare traits in this land. What Maybank Investment Bank mentioned in their email is honest and true.

There are uncertainties as far as the political situation is concerned.

Due to the coalition government formation, investors are concerned about the direction of the current government, which is still not clear after being in power for eight months.

Do not keep silent and present a pretty picture. Start by telling the investors where we are heading.

Both the finance and economy ministers need to be clear about this. They may send their troopers to deny and attack this news.

Two investors told me personally in April that they may not invest here anymore since they are unclear about the government’s direction.

Now this email is appearing on social media. Of course, the administration knows about it but actions are slow or almost nil.

Remember, the nation comes first, not the prime minister or any political party. The prime minister and his cabinet need to take this email seriously and work out something.

No one owes us anything. Anwar administration, please buck up!

We do not have much time here. This has nothing to do with state elections. It is all about confidence building.

Dm: An investment statement should not touch on politically sensitive issues or would be seen as a politically motivated statement.

An investment outlook is based on many aspects and political climate is just one of them.

Perhaps the major factor is investors’ confidence.

While I agree that some investors may be sitting on the fence pending the settling down of the political atmosphere after the six-state election.

It should be broad and general on the outlook of a country as a whole, without specifics or it would be deemed as a politically motivated statement.

One can be “neutral” to say that economic sentiment in Malaysia is unclear pending clear monetary and fiscal policies from the government.

To mention even the “stability of the government” in an economic outlook report reflects the writer’s intention to be politically motivated to sway not only investors but also the voters.

OCT: It is difficult to give an honest opinion in Malaysia.

The sitting government has and must be praised no matter how bad it is.

When the world pinpointed our former prime minister Najib Abdul Razak as the main player behind the 1MDB daylight heist, our serving politicians and related government agencies said everything was okay.

This is the culture in Malaysia. Our government, especially the prime minister, can do no wrong and smells like a rose.

This memo is a prediction and may be wrong in context. It may or may not affect investors’ sentiments as it is not the only deciding factor to determine the economy or investment interest.

So there is no need to make a mountain out of a molehill.

Pink: Maybank’s statement is true. KLSE has been on a downward trend since the election and has been consistently below 1,500.

It went up a bit at the beginning of July. Most investors are on the sidelines, not sure what to do.

In contrast, during former prime minister Ismail Sabri Yaakob’s time, at the height of the Covid-19 pandemic, it was consistently above 1,500.

For the past six months, there have been no positive vibes, no feel-good factor.

Maybank has been honest with its clients. This government has not been honest with its voters.

It is about time to change the government.

YellowCat1156: Let’s put it this way. The only way forward is to be honest and Maybank is doing that. I’m sure other investment arms have their own opinions.

Truth be told, isn’t this what almost everyone has been saying? Sure, it’s been less than a year. It may be too early for drastic changes.

But surely policies can be devised? We have seen very few positives but a lot of uncertainties.

Newday: Maybank summarised the current situation pretty well. I would like to see what their situation summary was like when the PN backdoor government was in power.

I guarantee it would have a far greater negative slant than this current one.

Apa pun boleh: It is a self-defeating, self-incriminating and uncalled-for statement from the leading bank and that is why the bank had reissued the e-mail deleting the part about the prime minister’s unclear policies and unstable position.

True to form, intentionally or otherwise, it has weaponised the opposition that scraps the barrel for its political fodder.

We have an opposition devoid of people-related issues but going for the jugular on trivial non-issues as in this case.

Though the government’s position and policies affect the economic situation, that in itself cannot be the sole factor.

This can be expressed more professionally without badmouthing the government as being powerless and making the prime minister the scapegoat for whatever is ailing the bank.

Some things are certainly rotten in the state of Denmark.

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These comments are compiled to reflect the views of Malaysiakini subscribers on matters of public interest. Malaysiakini does not intend to represent these views as fact.

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