Bursa rebound reassuring, but still work in progress, says Najib

 

Bursa Malaysia has gained some 70 points since Muhyiddin Yassin resigned, says Najib Razak.

PETALING JAYA: Despite the reassuring performance of Bursa Malaysia since the resignation of former prime minister Muhyiddin Yassin and his Cabinet, Najib Razak says there is still much to do if investor confidence and the economy are to properly recover.

The former prime minister said the jump of about 70 points in the KLSE-FTSE index since the fall of the previous government reflected the hope of investors that policies and their implementation will improve under the next administration.

However, he said investor confidence and economic recovery would be “stunted” if Covid-19 cases cannot be lowered enough to reopen the economy and aid is not provided to embattled traders in need of capital and cash flow.

“As long as new cases are high, many foreign and local investors will not dare invest in new businesses or expand existing businesses, even if given flexibility,” he said on Facebook.

“As long as new cases are high, customers will also not dare to go out and spend even if given leeway.”

He expressed hope that the government under Ismail Sabri Yaakob will be able to address these issues and usher in the life Malaysians enjoyed before the pandemic. - FMT