Malaysia Remains On Growth Radar, Says Central Bank Governor

KUALA LUMPUR, March 31 (Bernama) -- Malaysia is still a growth centre in the global economy as evidenced by the interest of foreign investors towards it, said Bank Negara Malaysia (BNM or Malaysia's Central Bank) governor Dr Zeti Akhtar Aziz. She said the continuous interest was also reflected by the inflow of foreign funds currently taking place. "I believe Asia is a profit centre in the global economy and Malaysia is very much a part of this region. So, we are still a growth centre in the global economy," she told reporters here Thursday. MIDF Amanah Investment Bank Bhd in a statement said foreign money was returning to Malaysia at the fastest pace in Southeast Asia this year, with about US$1.12 billion (RM4.4 billion) pumped into the nation's equities. This is after 2015 saw the biggest outflows since the global financial crisis with inflows for March at the highest since April 2013. The investment bank said the FTSE Bursa Malaysia KLCI is headed for its best monthly performance in more than three years, as stocks trade near the cheapest, relative to global equities in almost a decade. However, Zeti said Malaysia needs to continue strengthening its fundamentals to face uncertainties in the global economy. She said among the factors having a significant effect on the country's economy is the oil prices movement and direction of policy in the major economies. "All of this are fundamental factors that have a significant spillover effect on a country like ours. So, our position has to be one that we prepare ourselves, to be able to manage such volatility," she added. MIDF Amanah Investment Bank Bhd is the national investment trust company. --BERNAMA