Malaysia’s crime wave clouding investors’ perception
(TMI) – Investors regard the rule of law as one of the most important requirements of deciding on the destination of their investments and Malaysia has been a favourite spot since the 1970s.
A spike in drive-by shootings and gangland killings in Malaysia has got foreign investors worried about the state of security in the nation in recent months.
There have been at least 35 reported shootings nationwide since May which left 22 people dead. The high profile daylight killing of banker Ahmad Hussain Najadi last month attracted attention and sent a signal to the business community that all is not well in terms of safety.
Canadian Business Council of Malaysia president Roger Poulin said the rise in violent crimes was a concern to investors.
“We hope the government has a handle on it,” Poulin told The Malaysian Insider in Kuala Lumpur this week.
American Malaysian Chamber of Commerce (AMCHAM) past president Datuk Nicholas Zefferys (pic) said members were concerned but not to the extent of considering to pull out their investments from Malaysia yet.
“As long as there are continuous measures to fight crime, I think the investors will be assuaged.
“Things are bad but it has not boiled over,” Zefferys told The Malaysian Insider in Kuala Lumpur this week.
The British, German, Japanese and Korean Chambers of Commerce declined to comment on the matter. Businessmen from all four countries have a sizable investment and presence in Malaysia.
One of the executive directors of these chambers of commerce said that she did not want to comment as her job was to promote investments into Malaysia and the hike in crime would ruffle the feathers of investors.
Investors regard the rule of law as one of the most important requirements of deciding on the destination of their investments and Malaysia has been a favourite spot since the 1970s.
