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KUALA LUMPUR, Aug 21, 2015:

CIMB group chairman Datuk Seri Nazir Razak says that associating the nation’s current fiscal and monetary situation with economic sabotage is an impractical way to analyse Malaysia’s current predicament.

According to The Star Online, Nazir saw that this sentiment would create a climate of fear, leaving people anxious and may create panic.

“It’s very dangerous when people are too flippant about commenting on what’s going on.

“We need to diagnose it properly and then we need to come up with sensible responses.

“I think it’s important to keep the right perspective of things,” he told reporters during The Economist South-East Asia Summit 2015 at the Westin Hotel, yesterday.

He added the efforts made by Prime Minister Datuk Seri Najib Razak in engaging various segments of the community in order to attain a broader perspective on the economical state of the country was an admirable notion.

“We want people to tell the PM what they see in terms of what’s happening on the ground (in regards to) the economy so that he can respond correctly.”

Nazir mentioned that there was a present need for an environment with open communication channels, where opinions as well as criticism regarding the economy could be unequivocally transmitted between the people and the government.

According to Nazir, the recent political landscape has a relative impact towards Malaysia’s relations with foreign investors.

“From my perspective, one of the big issues is sentiment — the concern of international investors about the political situation in Malaysia.

“And bringing back confidence is very important.”

He stated that the country’s key institutions needed to function independently in order to safeguard the economy as well as the confidence of foreign investors.

“We have always marketed Malaysia as a country with very strong and well-functioning institutions.

“That is the bedrock of this nation and recent events have cast some doubts on the minds of the international community.”

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