Capital
Headline MediaTitle Date Section Page No Language Journalist Frequency
Capital controls as last resort, says Najib Malaysian Reserve 20 Sep 2013 Corporate Malaysia 1,4 English LINDA ARCHIBALD Daily (EM)
Color Circulation Readership ArticleSize AdValue PR Value
Full Color 10,500 31,500 277 cm² RM 2,613 RM 7,839
Capital controls as
last resort, says Najib by LINDA ARCHIBALD
MALAYSIA'S resilient economy will be able to survive potential monetary outflows and the govern ment does not expect to impose capital controls except as a last re sort, asserted Prime Minister Datuk
Seri Mohd Najib Razak. While most of the country's debt is domestic and longer term, he ex
pects the current reserves amoun ting to US$130 billion (RM410 bil lion) would help to correct any economic volatility and sustain the country's economic performance. However, Najib did not rule out the possibility of implementing capital controls, saying that it would be a last resort.
He said the country's strong seeP4col1
PM says Malaysia wants TPP 'but on our terms' from Pi Capital controls
saving mechanisms such as Employees' Provident Fund, Tabung Haji and Retirement Fund Inc have given the coun try an edge over other coun tries. "Chances of a default is
minimum. Despite our money leaving, our reserves are more than enough compared to what we had during the financial crisis in 1997," said Najib who is also the country's finance minister.
He said this during a 30 minute recorded interview by CNBC anchor Martin Soong at the annual CNBC Summit Ma
laysia — for its programme CNBC Conversation. The inter view included discussion on
Malaysia's economy, political economic growth. landscape and the results of With Bumiputera account the premier's massive financial ing for 67% of the country's reforms. population, he said: "(should) On the country's export mar the vast majority (be) margin ket, Najib called on electrical alised or feel that they are not and engineering industries to getting a fair share of the coun move up the value chain in try's wealth, that may affect terms of products to increase longterm stability". exports. "Currently, Bumiputera hold Soong raised a question on an approximate 23.4% equity the Trans Pacific Partnership in the corporate sector, but the (TPP) agreement, citing leaked definition of wealth is all en documents which suggest that compassing. It has to be seen in signatory countries may have a larger context," he said. to waive their sovereign rights Najib said compared to the to independent monetary poli Malaysian Chinese, the Bumi cies and implement capital putera are not performing as controls where necessary — well. The recorded interview will unless there are negotiations between member countries.
be aired on CNBC Conversatwn
Commenting on this, Najib at 5pm today on Astro CNBC said the country is weighing Asia Channel 518. the many factors involved be The CNBC Summit Malaysia fore getting on board (with the 2013 is an annual event hosted TPP). by CNBC in partnership with "We want the TPP, but on Tourism Malaysia, Visit Malay our terms. And this is still a
sia 2014 campaign and Halal
workinprogress. Some of the Industry Development Corp terms will be on trade and in (HDC) and was attended by vestment consideration that foreign diplomats and corpo impinge on matters of sover rate leaders. Following the 30minute in eignty, that impinge on state owned enterprises...they are terview with Najib, Soong listening but it will be quite moderated a panel discussion featuring corporate leaders tough negotiations. PricewaterhouseCoopers Ma "We will not forego our na laysia executive chairman Mo tional interests for TPP. We
think it is good provided the terms are reasonable," he said.
hammad Faiz Azmi, AirAsia X Bhd CEO Azran OsmanRani
and Sunway Bhd's ED Kumar
Defending the government's Tharmalingam, as well as Min Bumiputera Economic Empow istry of International Trade and erment Agenda, he said the
government subscribes to an "equitable, fair (and) inclusive"
Industry deputy secretary gen eral for trade Mohammad Rid zal Sheriff.
Headline MediaTitle Date Section Page No Language Journalist Frequency
Capital controls as last resort, says Najib Malaysian Reserve 20 Sep 2013 Corporate Malaysia 1,4 English LINDA ARCHIBALD Daily (EM)
Color Circulation Readership ArticleSize AdValue PR Value
Full Color 10,500 31,500 277 cm² RM 2,613 RM 7,839
Pic by Muhd Amin Nahorul
(From left) Tourism Malaysia advertising director Datuk Abdul Khani Daud, HDC CEO Datuk Seri Jamil Bidin and Najib at the CNBC Conversation programme in Kuala Lumpur
Capital controls as last resort, says Najib Malaysian Reserve 20 Sep 2013 Corporate Malaysia 1,4 English LINDA ARCHIBALD Daily (EM)
Color Circulation Readership ArticleSize AdValue PR Value
Full Color 10,500 31,500 277 cm² RM 2,613 RM 7,839
Capital controls as
last resort, says Najib by LINDA ARCHIBALD
MALAYSIA'S resilient economy will be able to survive potential monetary outflows and the govern ment does not expect to impose capital controls except as a last re sort, asserted Prime Minister Datuk
Seri Mohd Najib Razak. While most of the country's debt is domestic and longer term, he ex
pects the current reserves amoun ting to US$130 billion (RM410 bil lion) would help to correct any economic volatility and sustain the country's economic performance. However, Najib did not rule out the possibility of implementing capital controls, saying that it would be a last resort.
He said the country's strong seeP4col1
PM says Malaysia wants TPP 'but on our terms' from Pi Capital controls
saving mechanisms such as Employees' Provident Fund, Tabung Haji and Retirement Fund Inc have given the coun try an edge over other coun tries. "Chances of a default is
minimum. Despite our money leaving, our reserves are more than enough compared to what we had during the financial crisis in 1997," said Najib who is also the country's finance minister.
He said this during a 30 minute recorded interview by CNBC anchor Martin Soong at the annual CNBC Summit Ma
laysia — for its programme CNBC Conversation. The inter view included discussion on
Malaysia's economy, political economic growth. landscape and the results of With Bumiputera account the premier's massive financial ing for 67% of the country's reforms. population, he said: "(should) On the country's export mar the vast majority (be) margin ket, Najib called on electrical alised or feel that they are not and engineering industries to getting a fair share of the coun move up the value chain in try's wealth, that may affect terms of products to increase longterm stability". exports. "Currently, Bumiputera hold Soong raised a question on an approximate 23.4% equity the Trans Pacific Partnership in the corporate sector, but the (TPP) agreement, citing leaked definition of wealth is all en documents which suggest that compassing. It has to be seen in signatory countries may have a larger context," he said. to waive their sovereign rights Najib said compared to the to independent monetary poli Malaysian Chinese, the Bumi cies and implement capital putera are not performing as controls where necessary — well. The recorded interview will unless there are negotiations between member countries.
be aired on CNBC Conversatwn
Commenting on this, Najib at 5pm today on Astro CNBC said the country is weighing Asia Channel 518. the many factors involved be The CNBC Summit Malaysia fore getting on board (with the 2013 is an annual event hosted TPP). by CNBC in partnership with "We want the TPP, but on Tourism Malaysia, Visit Malay our terms. And this is still a
sia 2014 campaign and Halal
workinprogress. Some of the Industry Development Corp terms will be on trade and in (HDC) and was attended by vestment consideration that foreign diplomats and corpo impinge on matters of sover rate leaders. Following the 30minute in eignty, that impinge on state owned enterprises...they are terview with Najib, Soong listening but it will be quite moderated a panel discussion featuring corporate leaders tough negotiations. PricewaterhouseCoopers Ma "We will not forego our na laysia executive chairman Mo tional interests for TPP. We
think it is good provided the terms are reasonable," he said.
hammad Faiz Azmi, AirAsia X Bhd CEO Azran OsmanRani
and Sunway Bhd's ED Kumar
Defending the government's Tharmalingam, as well as Min Bumiputera Economic Empow istry of International Trade and erment Agenda, he said the
government subscribes to an "equitable, fair (and) inclusive"
Industry deputy secretary gen eral for trade Mohammad Rid zal Sheriff.
Headline MediaTitle Date Section Page No Language Journalist Frequency
Capital controls as last resort, says Najib Malaysian Reserve 20 Sep 2013 Corporate Malaysia 1,4 English LINDA ARCHIBALD Daily (EM)
Color Circulation Readership ArticleSize AdValue PR Value
Full Color 10,500 31,500 277 cm² RM 2,613 RM 7,839
Pic by Muhd Amin Nahorul
(From left) Tourism Malaysia advertising director Datuk Abdul Khani Daud, HDC CEO Datuk Seri Jamil Bidin and Najib at the CNBC Conversation programme in Kuala Lumpur
