M’sia still strong enough to fend off falling oil prices


Dateline 2014-12-03, Free Malaysia Today:

Malaysia’s underlying economic fundamentals continue to be strong despite the apparent free fall in global crude oil prices which roiled markets worldwide including the local equity and currency markets.

“The economy remains strong but the country does not operate in isolation, making its markets vulnerable to falling oil prices,” CIMB Group’s Chief Executive, Zafrul Tengku Abdul Aziz, said here today.

He said Bursa Malaysia’s bearish performance – particularly oil and gas-related counters yesterday, was mainly due to Malaysia being a major investment destination for oil and gas (O&G) players.

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