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Sunday, June 14, 2015

WHO WILL INVESTORS SIDE? Ahmad Maslan drags Dr M-Najib feud into RINGGIT EQUATION

WHO WILL INVESTORS SIDE? Ahmad Maslan drags Dr M-Najib feud into RINGGIT EQUATION
KUALA LUMPUR - Datuk Ahmad Maslan has demanded that Tun Dr Mahathir Mohamad stop criticising Prime Minister Datuk Seri Najib Razak, claiming that the former prime minister’s attacks have resulted in a further decline of the ringgit.
In a report by Mingguan MalaysiaUtusan Malaysia’s Sunday edition, the deputy finance minister was quoted saying that it was time for Dr Mahathir to stop his attacks as Najib has already answered the former PM’s queries and allegations.
“Although the Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz had said that our economy is still positioned on strong foundations based on strong reserves, economic growth, controlled inflation and low unemployment rate.
“However, issues brought forward by Dr Mahathir and support by certain groups are said to have also contributed to the decline of the ringgit,” Ahmad was quoted saying.
“In the end people will know whatever is being done by the former PM (Dr Mahathir) will not bring any good and instead bring about a decline in the country’s image and honour,” the Umno information chief added.
Datuk Ahmad Maslan
Weak prices for commodities, a key export for Malaysia, have hurt market sentiment and the ringgit.
Concerns over 1Malaysia Development Bhd (1MDB), which has been dogged by controversy over RM42 billion in debt and alleged financial mismanagement, have also undermined the currency.
The ringgit closed at 3.73 against the dollar on Wednesday, recovering slightly from 3.77 last week, which was its lowest level since February 2006.
It slumped to 3.80 during the 1998 Asian Financial Crisis. - Malay Mail

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