The fall was mainly due to the shift that Malaysia is experiencing, from the agriculture and manufacturing sector to the services sector.
The government's policies have nothing to do with the sharp decline in foreign direct investment (FDI) last year, says Maybank Investment Bank chief executive officer Tengku Zafrul Tengku Aziz.
Rather, the fall was mainly due to the shift that the country is experiencing, from the agriculture and manufacturing sector to the services sector.
"The budget is coming up on October 15 and we hope it (budget) can address all these and change things better for the future," he said after presenting an evening talk organised by KPMG in Petaling Jaya yesterday.
The United Nations Conference on Trade and Development (Unctad) reported that FDIs into Malaysia plunged by 81 per cent to RM4.5 billion last year.
Tengku Zafrul also echoed the sentiments of CIMB Group Holdings Bhd chief executive officer Datuk Seri Nazir Razak who said that Malaysians should not read much into the report as things are still under control.
"That is why the government is getting many big companies to list in the stock market and we have also been told that the capital market liquidity is rich, with close to RM300 billion in reserves," he added.
On Maybank Investment Bank, he said the bank will open its branches in Singapore and Indonesia by next June.
"Our banks have very strong presence in these two countries but we have do not have an investment arm unit," he added.
By June Ramlee
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