Investment remains sluggish

Article Abstract:

Foreign investors continue shying away from Malaysia, despite the country's having relaxed restrictions on capital flows. For its local stocks to be truly competitive, Malaysia could either opt for a rapid return to the benchmark indexes that fund managers promote or allow local shares to surrender a substantial part of the gains while locking out foreign shares. However, many claim that the real hurdle is in the country's anti-speculator strategy, namely, the capital gains tax, which was implemented even as foreign money was headed towards Asia. The situation is a clear case of needing to woe back investors not with restrictions but with incentives.

Administration of General Economic Programs, Foreign trade, Malaysia, Foreign Investment Regulations, Foreign investments, Foreign investment laws

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Malaysia may privatize funds

Article Abstract:

Private fund managers express hope that the Malaysian government's plan to privatize its state-owned funds will be beneficial to them. In a recent development, regulators have instructed state-run funds to engage private fund managers to manage their assets. The action serves to save state-run funds from heavy losses, asset values which have fallen below their par value of 23.6 cents. This is part of the risks private fund managers have to shoulder as a result of the privatization.

National Government Finance, Laws, regulations and rules, Public finance, Privatization, Privatization (Business), Government ownership, Nationalization

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Malaysia alters tax rule

Article Abstract:

The Malaysian stock market recorded considerable improvements for the first week of Oct 1999, following the decision of the government to ease the capital gains tax levied to foreign investors. Central banks officials have decided to decrease capital gains to a flat 10% rate from a high of 30%. The decision did not only spark the interest of local as well as international investors, but also effected a 4.1% increase in the key composite index.

Tax Administration, Evaluation, Stock-exchange, Stock exchanges, Tax administration and procedure, Economic policy

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