WITH Bursa Malaysia performing poorly, former Parti Pribumi Bersatu Malaysia (Bersatu) leader A Kadir Jasin took pot shots at Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz and Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar.

“Our corporate champions are failing in terms of corporate accomplishments for the past few years now.

“The fact is, the duo failed to shore up the stock market. As a result, Bursa Malaysia is listed as among Asia’s worst performing stock markets last year,” he said in a Facebook post.

Citing a report from The Star, Kadir said that Bursa Malaysia ranked number eight among the nine main bourses listed in Asia.

“The Indonesian and Thai stock markets were performing way better than ours. In the past, we used to look down on them.

“The Thai stock market rose by 14.4%, Indonesia (10.1%), Singapore (9.8%), Japan (4.9%), China (4.8%) and South Korea (3.6%).

“On the other hand, Malaysia’s stock market fell by 3.7%,” he stated.

It is to note that the worst performing stock market for last year was Hong Kong, sliding 14.1%.

Investors’ confidence is low

With that, Kadir reminded the people that investors look at how a country’s stock market perform so as to decide whether to invest there or otherwise.

He added that with Bursa Malaysia performing poorly, investors would not look positively at the country, including its chairman, Abdul Wahid.

“In others words, we can only expect bad news when local and foreign investors have low confidence in our political climate, which in turn, affects our economic prospects.

“Hence, it’s clear that the infamous Sheraton Move which saw Tan Sri Muhyiddin Yassin ascending the premiership and now replaced by Datuk Seri Ismail Sabri Yaakob is not reviving confidence among investors,” Kadir opined. – Jan 3, 2022