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 This is from Malaysian Insight. It was in Mandarin. I used a translation app to translate. Its very choppy. The translation is not clear at all. I also edited out some names - no names.
I think it is Dominic Lau Hoe Chye the Gerakan president. Not Liu Hua Cai.
The points are worth noting. Its not anything new.



Liu Huacai ridiculed "Asia's fastest withdrawal of foreign capital from the stock market during his term"

Liu Huacai, national chairman of the People's Political Party (OSTB: Gerakan?), pointed out that foreign investment has withdrawn RM2.37 billion  in the past four months, which is the largest withdrawal since the beginning of 2020. 
He called ..to stop feeling good about himself and to take positive measures to address this serious economic challenge.

Liu Huacai said ..the importance of foreign capital to our economy must be taken into account, and the short-term large-scale divestment will not have an excessive impact on the market.

the national economic growth plan has been in the 'painting cake' stage, and has not stabilized investor confidence." 
need to actively respond, establish integrity, and improve the investment environment to enhance investor confidence and promote market stability and development.”

intentionally or unintentionally creates class differentiation, if not handled properly, may affect social harmony and stability. 
questioned whether the continuous sale of Malaysian stocks by foreign capital is related to some sensitive issues in China
If Trump increases the implementation of tax measures, foreign investment may accelerate the withdrawal of Malaysia. 
if economic risks are not dealt with in a timely manner and decisively, in addition to affecting the country's economic growth, it may also endanger social stability.

"The continued sell-off of foreign capital will lead to instability in the stock market and even lead to panic selling, which poses a serious threat to investor confidence and market stability." 
If the government still fails to provide effective countermeasures, the divestment of foreign capital will further undermine the confidence of the foreign exchange market and international investors.”

Liu Huacai called on the government to focus on core interests and properly deal with rising prices and the burden of people's lives on the rise, rather than wasting public resources in unnecessary disputes. 
He pointed out that in many cases, the government has wasted time and energy on unrelated issues 
My Comments : 
The Singapore Dollar is now at RM3.31. That is a little improvement. 


Here is the SGD - MYR chart for one year (February 2024). You can see the trend, the Ringgit has strengthened from 3.54 in February last year to RM3.31 this year.

I believe our economy is now more stratified. There is a more pronounced strata among the people in the country.
There is now a large class of urban poor in the country. These are largely Malays. And in a country so fond of acronyms they are called the B40. Maybe also the M40.
There is also that other strange strata - what I call the 'unsustainable class'. Again these are mostly Malays. Unsustainable means they are strongly dependent on gomen handouts. Actual gomen handouts, gomen procurement etc. Once the handouts disappear or become constricted the unsustainable class have little or no means of sustaining themselves. They suffocate.
Here is the rub - many of the unsustainable class are in the M40 group and also in the T20 group. Some months back I saw a Tan Sri fellow. During Dr Mahathir's time he was an outer spoke in an outer wheel. Now he is obviously facing more challenging times. Wearing a faded shirt  and looking a little unkempt. This story repeats itself. Another Dato whom I knew well, died last year - in some financial difficulty. Their heydays were during whichever leader held power. 
They are almost entirely dependent on the power structures in the country. When the power is out, they are in the dark. These are the "unsustainable classes". And everytime there is a change in the power structure (and there will be) the numbers of these 'unsustainable classes' will increase.
The much bigger issue are the B40s. The breaking down of the B40 class is quite mindboggling.  The B40s are facing serious challenges in the urban areas especially in the Klang Valley. But there are also more serious problems in the rural areas and in the other States. A litany of quite weird crimes and strange misfortunes often befalls this group. 
As Dominic Lau points out above the people are faced with 'rising prices and the burden of people's lives on the rise, rather than wasting public resources in unnecessary disputes'.

Something has to give. Meaning something has to crack. This cannot go on forever.
The views expressed are those of the writers and do not necessarily reflect those of MMKtT.
By Syed Akbar Ali 

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