KUALA LUMPUR, Feb 10 — Lim Kit Siang said today that Prime Minister Datuk Seri Najib Razak must respond to a damaging report by an international risk consultancy which said that Malaysia was veering towards instability.
The Hong Kong-based Political and Economic Risk Consultancy (PERC) report noted that Najib’s administration is steering the nation towards instability.
PERC also said that Najib’s strategy of “trying to be all things to all people” through his supposedly all-encompassing 1 Malaysia concept is likely to “satisfy no one.”
“(So) what is Najib’s response to PERC’s report and the prospect of Malaysia becoming even more uncompetitive internationally because of his failing strategy to be all things to all people?” asked Lim today.
The Ipoh Timur MP then highlighted parts of the report including PERC raising Malaysia’s risk index from 5.24 in December to 5.4 in January
— out of a possible maximum score 10 for highest level of risk.
PERC also asserted that a group of elite minorities were dominating the national agenda to the extent that it was hurting Malaysia’s attractiveness to investors.
It noted that foreign investments into Malaysia have not been forthcoming, either in direct form or in the equity markets.
The consultancy said this was due to the “probable” fact that no other Asian country is suffering from as much bad press as Malaysia.
Among the developments that caught its attention were the theft of military jet engines, detention of terror suspects from a number of African and Middle East countries following warnings that Islamic militants were planning attacks on foreigners at resorts in Sabah.
It also pointed to renewed ethnic and religious “violence” that included arson at some churches and mosques desecration, and questionable integrity of key institutions like the judicial system in the sodomy trial of opposition leader Datuk Seri Anwar Ibrahim.
““Foreign companies and investors are remaining cautious until they see how Malaysia gets its own house in order,” said the report.
Lim said PERC has also been critical of Najib’s premiership and this has reaffirmed his earlier criticism that the latter’s 1 Malaysia concept is “wishy-washy” and littered with double standards.
The former opposition leader also said yesterday’s Federal Court verdict that upheld BN as the rightful Perak government will also hurt the country’s competitiveness.
“It legitimises Najib’s Barisan Nasional coup d’tat government in Perak,” said Lim, arguing that this would affect public confidence in the judiciary.
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