GOVT MUST SHOW ECONOMIC LEADERSHIP AMID CRISIS

KUALA LUMPUR, Feb 3 (Bernama) -- The government must show economic
leadership beyond just orthodox fiscal stimulus and monetary measures as major
global economic dislocations and enforced reconstruction present not only severe
challenges but also tremendous opportunities, says Bumiputra-Commerce Holdings
Bhd's group chief executive Nazir Razak Tuesday.

"The global economic crisis is having a brutal impact on the world's real
economy. It is not just another economic slowdown, this crisis is shaking the
core of the established world economic order," he told reporters after the
Bumiputra-Commerce Holdings's extraordinary general meeting here.

"While fiscal and monetary stimulus would provide a temporary boost to the
economy, we also need strategic and proactive leaderships to advance Malaysia's
relative economic position in the new world order that will emerge from this
crisis," he said.

Among other things, Nazir suggested for the government to consider
re-examining the New Economic Policy (NEP), whereby there should be a review as
to how it retards investments and economic efficiency and develop a new, more
relevant framework for economic policy-making.

He called for Malaysia to leverage on the Middle East, China and India
whereby there would be an accelerated shift in economic power to these areas as
a result of the global economic crisis.

"Malaysia should further exploit its unique comparative advantage in terms
of social and geographical connectivity with these economies," Nazir said. --
BERNAMA