Invest Malaysia - enlightening, albeit subdued
Business Times - 27 Mar 2008
THIS year's Invest Malaysia conference, a yearly event to drum up investor interest, generally lacked some of the "excitement" of its previous instalments. Foreign investors are normally drawn to the event to see company managers face-to-face, while policy surprises are always welcome. "I think it's slightly subdued, somewhat less vibrant this year," said a fund manager from a UK-based firm, who has been at the conference for more than two years. The lack of industry heavyweights may be a factor, with only six out of the 10 biggest companies taking part. This year's absentees include YTL Corp Bhd, Malayan Banking Bhd, PLUS Expressway Bhd, Public Bank Bhd, Tanjong plc, Astro and Proton Holdings Bhd. Another factor could be the lower turnout this year, especially those from abroad. Close to 1,000 fund managers attended last year, while this year's event attracted some 800 fund managers worldwide. "Also, most of the delegates were generally quiet throughout the company presentations. A total contrast from last year, when delegates were actively posting questions to company officials," the fund manager added. For relative newcomers, however, the event lived up to their expectations of getting first-hand information from Malaysia's corporate leaders on the state of the economy and their business operations. "It's my first visit to Malaysia after more than five years. Malaysia has changed so much. Overall, I'm very satisfied with the conference, and the closed-door presentations. I got all my questions answered," said Geneva-based investment advisory firm E.F. Iselin SA chairman and chief executive officer Edouard F. Iselin. Malaysian Rating Corp Bhd chief executive officer Mohd Razlan Mohamed, who attended the conference for the first time, felt that Invest Malaysia has helped to address some uncertainties in investors' minds. "The timing couldn't be better. People were quite anxious, and needed a clearer picture and assurance in light of the recent elections and global volatility. The Prime Minister's speech has helped address these. "Besides, the companies which participated gave a good story and a good substance to state their claims," Mohd Razlan said.