Eric See To Blasted For Ignoring Former Boss 1mdb Scandal As Key To Foreign Funds Capital Flight

---

 
A FINFLUENCER has ticked off former Barisan Nasional (BN) strategic communication deputy director Datuk Eric See-To for over-zealously pointing finger at the Madani government over the current state of foreign capital outflows from Bursa Malaysia.
Although the loyalist of disgraced former premier Datuk Seri Najib Razak is right that another RM484.8 mil flowed out last week to bring the year-to-date (YTD) total to RM20.3 bil, he is accused of having conveniently ignored the role of the latter in the so-called “stock dumping”.
“Turning this into a ‘Madani-only disaster’ is pure selective storytelling,” chided ksampoh@MyOwn Inc (@ksampoh) in response to See-To’s post on X.

“Let’s deal with the full timeline – not the sliced version you prefer. (1) Total foreign outflows since GE14 (14th General Election in 2018) = RM76.7 bil; (2) Outflows since Madani began = RM26.8 bil; (3) Meaning RM49.9 bil or almost TWO-THIRDS happened before DSAI (Datuk Seri Anwar Ibrahim) became PM.”
According to @ksampoh, the outflows were driven by six developments, namely (i) the 1MDB overhang (ii) US-China trade war; (iii) COVID-19 collapse; (iv) crude oil crash; (v) three PMs in four years; and (vi) sovereign risk downgrades.
“All this happened before today’s administration but you quietly skip those years because the context ruins your script,” remarked @ksampoh with a tinge of sarcasm. “Let’s be honest for Malaysia is not moving in a vacuum.”
Eric See-To (right) during a podcast session with former economy minister Datuk Seri Rafizi Ramli who unmasked him as the man behind the pseudonym Lim Sian SeeAbove all else, Malaysia is not alone in facing such dilemma given Reuters reported that Asia saw US$10.18 bil foreign outflows in November.
“India, Thailand, Indonesia and Vietnam, too, experienced exiting foreign funds,” observed @ksampoh. “This cycle is driven by (i) the US Federal Reserve rate uncertainty; (ii) US tech volatility; and (iii) Trump tariff signals.”
The finfluencer also reminded See-To who is now a staunch Madani critic that given “strong US dollar pulling capital back to the US Treasuries”, the pullback is “a regional trend as opposed to a Malaysia-specific punishment”.
“Even your own source iSaham shows something you didn’t mention. Foreigners were net buyers in September, then reversed due to global risk-off sentiment,” @ksampoh corrected See-To who used to blog under the moniker Lim Sian See.
If DSAI (had) scared everyone away forever, how did buying return two months ago? As for foreign ownership at lowest ever, that’s also a half-truth.
Foreign ownership drops when (i) local institutions buy more; (ii) domestic market cap expands; and (iii) (when there is) passive EM (emerging markets) funds re-balance.
It does not automatically mean “foreign confidence is dead”. It means the market structure has shifted – a similar trend is visible in Indonesia and the Philippines.
If you want to debate policy choices, go ahead. But don’t cherry-pick one month, hide eight years and pretend global markets revolve only around Putrajaya.
Foreign outflows are real; your spin is the fiction. Next time, Eric, try using the full data set, not just the part that fits your storyline.” –   Focus Malaysia

---