Investor confidence plunged when 1MDB scandal broke, says Amanah man

[superadmin]

PETALING JAYA: An Amanah leader says investor confidence in Malaysia went downhill after the 1MDB scandal erupted in 2015.

Central committee member Faiz Fadzil said the insinuation by Umno Youth chief Asyraf Wajdi Dusuki that the rot in investments began after the change of government in 2018 was “baseless and confusing”.

Recently, Asyraf, in demanding senior minister for economy Mohamed Azmin Ali to explain the 68% decline in Malaysia’s foreign direct investment (FDI) in 2020, said foreign investor confidence had yet to recover after the last general election.

However, in a statement today, Faiz said “the fact is that investor confidence in Malaysia began deteriorating since the 1MDB scandal erupted in 2015″.

He said foreign investors began fleeing the market then, resulting in RM19.5 billion outflow of foreign funds.


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