“Without a doubt, Malaysia is slipping. Billions have been looted from this country, and billions more are being siphoned out as our entire political structure crumbles,’ claims former finance minister Tengku Razaleigh Hamzah speaking at the 4th Annual Malaysian Student Leaders Summit. “Yet we are gathered here in comfort, in a country that still seems to ‘work’ – most of the time. This is due less to good management than to the extraordinary wealth of this country.”
“Last year, we received US$1.38 billion in investments but US$8.04 billion flowed out. We are the only country in Southeast Asia that has suffered net FDI outflow,” he said. “I am not against outward investment. It can be a good thing for the country. But an imbalance on this scale indicates capital flight, not mere investment overseas.”
“When race and money entered our game, we declined,” he said. “The same applies to our political and economic life.”
