NEW YORK, Nov 24 (Bernama) -- Datuk Seri Najib Tun Razak said Malaysia's message of reforms and transformation needs to be told to foreign investors consistently or risk being overshadowed by countries like China and other emerging economies.
The Malaysian Prime Minister also said Malaysia may need to introduce further measures to make its capital market more attractive to foreign fund managers if it does not want to be marginalised by them.
Following a series of meetings with American fund managers and investors as well as corporate figures here on Monday, Najib said: "I think they like the Malaysian story, but they want us to continue our reform measures because they say that the outcome is very important."
Speaking to the Malaysian media covering his visit to New York, he said they were also receptive to the proposed re-listing of Maxis Bhd.
"They were saying that it's a move in the right direction as this will give them a bigger opportunity to invest in bigger companies as some of them are managing funds worth trillions of dollars," he said.
Elaborating further, the Prime Minister said American financiers and investors had pointed out the lack of suitable companies for them to invest in Malaysia.
"They would like to see more Malaysian companies with big market capitalisation. They're not keen on small companies. So, size in terms of market capitalisation is important for them. They want to see more companies like Maxis Bhd," said Najib.
He also said the investors indicated that prospective Malaysian companies should also adhere to the principles of good governance.
"In addition, they would like entities like Employees Provident Fund, Khazanah Nasional Bhd and Permodalan Nasional Bhd to reduce slightly their holdings in companies so that shares are available on the open market," he said.
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