CIMB chief: NEM details should be announced fast

KUALA LUMPUR: The government should urgently announce the details of the New Economic Model (NEM) as this will help provide certainty to investors, says a leading corporate figure.“Uncertainty affects investors’ decisions,” the group chief executive officer of CIMB Group, Datuk Seri Nazir Razak said.

He said investors were worried about changes in ownership rules.

“Malaysia’s challenge is on execution and not just focusing on the macro level. Attention will have to be given to different sectors of the economy,” Nazir said at the 15th Malaysian Law Conference here yesterday.

While the new version of the New Economic Policy (NEP) is a sensitive issue, there is a need to decide where is the direction, as to what are the affirmative actions or otherwise there will be a lot of speculation, he said. — Bernama