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August 13, 2008

Your investments are secured, says Malaysian minister
Malaysian Trade Minister Muhyiddin Yassin on Tuesday assured foreign businesses his country remained safe for investments, despite political changes after March general elections, reported AFP.

"As far as we are concerned there is some slight change in the political landscape, it is something which maybe Malaysians have to get used to," Muhyiddin said at a press conference in Singapore.

"So I think it's just needing some reassurance from the government -- and I am here to reassure them -- that the political situation is very well managed and we treasure very much the peace and security that we have been enjoying for many, many decades," he said.

"We know that they (investors) need government assurance to say that politically things are in order... and that whatever investments that they have put in Malaysia will be secured."

Muhyiddin was in Singapore for a seminar with potential investors on business opportunities in Malaysia.

The two neighbours enjoy close business ties with total trade up an annual 11 percent to 57.9 billion Singapore dollars ($42.2 billion) in the first-half of 2008.

Malaysia's ruling Barisan Nasional coalition failed to secure a two-thirds majority in March elections for the first time in almost 40 years.

The ruling coalition also lost four states in addition to one the political opposition already held, and Prime Minister Abdullah Ahmad Badawi's popularity has fallen to a new low.

Revitalised opposition figurehead and former deputy prime minister Anwar Ibrahim has said he has the numbers to take power with the help of government defectors, despite being hit with sodomy allegations recently.

But Muhyiddin belittled Anwar's claims, saying the opposition politician needs a "massive exodus" from the ruling coalition to gain power.

"I think he has got a bigger agenda to create an impression that something is seriously happening at home, that people are not happy and everything can happen," the trade minister said.

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