DPM: ABOUT TIME TO REVIVE M`SIA INC

KUALA LUMPUR, Dec 3 (Bernama) -- Deputy Prime Minister Muhyiddin Yassin said
it was about time the spirit of Malaysia Incorporated be revived to foster
closer cooperation between the public and private sector.

"I have stressed to many of the Cabinet committees the need to approach
problems with a greater sense of urgency and to adopt a pro-business and market
friendly approach," he said in his keynote address presented at the 14th
Malaysian Capital Market Summit 2009 here Thursday.

Muhyiddin said such sense was essential because it was important for the
government and the private sector to work closely together.

"Sustainable growth and economic development needs constructive dialogue
and regular engagement between the government, businesses and financial
community where problems faced by the private sector can be resolved," he said.

Muhyiddin said the progress made in improving the public delivery system by
the Special Taskforce to Facilitate Business or PEMUDAH was one example of how
closer public-private partnership can achieve better results.

He also called on the business and financial community to invest more in
Malaysia's real economy and the capital market.

"Now that Initial Public Offering's have been freed from the 30 per cent
Bumiputera requirement, there is no reason why local companies and
small-and-medium enterprises should shy away from investing in their own
country," he pointed out.

Muhyiddin also said there was a need for more local listings, to add depth
and breadth, to the capital market.

Quoting the Treasury Economic Report, he said funds raised in the capital
market remained strong with gross funds increasing almost 64 per cent to RM109.7
billion for the first seven months of the year compared with 3.1 per cent growth
registered in the same period last year.

On a net basis, the funds raised grew more than two-fold to RM68.4 billion,
in the same period, with the public sector accounting for 66 per
cent.(US$1=RM3.38)
-- BERNAMA