'The more Ahmad Maslan talks about the economy, the faster it would collapse' - KJ
NOR SYAMIRA LIANA NOR ASHAHA21 Jun 2023 09:35pm
Former Member of Parliament for Rembau, Khairy Jamaluddin and Deputy Finance Minister 1, Datuk Seri Ahmad Maslan - FILE PIX
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Khairy said Ahmad's actions of always talking about the economy, as if there was a big announcement to make seems like a move to ensure the value of the ringgit becomes stronger.
"The statement made makes individuals in the financial and investment markets want to know the news that will be delivered.
"For me, making the announcements is a good tactical move, but it will not change the current investment landscape in our country," he said on the Keluar Sekejap podcast show on Wednesday.
Khairy went on to explain that there were two ways to attract investment and strengthen the value of the ringgit in Malaysia is to sell
small shares to the Sovereign Wealth Fund (SWF) and make the country a family office.
He explained that investors who come to invest will look at the government and the efforts of government-related companies (GLCs) in providing opportunities to invest in business ventures.
Khairy elaborated that when small shares are sold to SWFs, it will have a bigger impact than all these small announcements in the long run.
At the same time, Khairy said, to increase investment into the country, the government not only needs to attract the attention of companies and professionals, but also family offices,
A family office in finance speak is an advisory entity that holistically manages wealth, investment and other finance-related aspects of ultra high-net-worth families.
"For the past few years, Singapore's strategy has been to attract family offices which are entities established by wealthy families to manage their finances.
"We just need to have a more flexible policy environment for family offices to be established here," he said.
