Share
KUALA LUMPUR (Nov 8): Former finance minister Tun Daim Zainuddin (pictured) said today that capital controls may not work for Malaysia now as market conditions have changed, compared with the 1997-1998 Asian financial crisis.
Today, Daim said Malaysia might have successfully used capital controls to manage the 1997-1998 Asian financial crisis; however, he does not believe the same policy will work today.
“My advice to the government is no (to implementing capital controls now),” Daim, who is also chairman of the country's Council of Eminent Persons, said.
Daim, who was speaking at the Affin Hwang Capital Conference Series 2018 here, said the government should minismise its interference in the economy and allow for a free market.
Separately, Daim said national oil firm Petroliam Nasional Bhd (Petronas) can afford the RM30 billion special dividend to the government as announced in Budget 2019.
“The (Petronas) board would have studied this carefully. They would have alerted fund managers and rating agencies,” he said, adding that markets appear to have accepted this thus far. — theedgemarkets.com
TOP PICKS BY EDGEPROP
Desa Mutiara Apartment
Mutiara Damansara, Selangor
Taman Perindustrian @ Tanjung Pelepas
Gelang Patah, Johor
Bandar Baru Permas Jaya
Permas Jaya/Senibong, Johor
Taman Bukit Indah @ Iskandar Puteri
Johor Bahru, Johor
Seksyen 16, Petaling Jaya
Petaling Jaya, Selangor
BANDAR AINSDALE FASA 3B (TENANG)
Seremban, Negeri Sembilan
Teega Residences, Puteri Harbour
Kota Iskandar, Johor
Puteri Cove Residences
Iskandar Puteri (Nusajaya), Johor
Sri Impian Apartment, Larkin Perdana
Johor Bahru, Johor
D'Summit Residences @ Kempas Utama
Johor Bahru, Johor
