Malaysia’s economy in stronger position to meet any incoming storms,PM says

Kuala Lumpur: The Malaysian economy is in a stronger position than it was during the 1997 Asian financial crisis to bear any “incoming storms”, Prime Minister Najeeb Razak said on Thursday.

Local companies now have stronger balance sheets and governance, while structural reforms to the financial and banking sector has strengthened it against “intense bouts of volatility”, Najeeb said at the World Capital Markets Symposium, an event organised by the country’s Securities Commission.

“We are on track to achieve our goal of becoming a high income status nation by 2020,” Najeeb said.