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Wednesday, August 12, 2015

Action plan needed now to stop ringgit freefall

uda,-rm
KUALA LUMPUR: An action plan is needed now as the ringgit has breached the psychological level of 4.0 against the US dollar today says UDA Holdings Bhd group managing director Ahmad Abu Bakar.
He said this was to ensure that the local note would not slide further.
“We leave it to the decision-makers, politicians and Bank Negara Malaysia.
“For UDA, however, technically there is no impact for us because we don’t have overseas investments. Most of our materials are locally-sourced,” he told reporters here today.
Ahmad said this at the company’s Hari Raya celebration event.
The ringgit was quoted lower at 4.0375/0415 against the greenback from 3.9600/9600 at 5 pm yesterday.
– BERNAMA

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