18 April 2019

Press statement by MCA Vice President Datuk Tan Teik Cheng


Pakatan needs to alleviate the people’s financial burden, strive to solve the economic woes in the country



I urge the Pakatan government to not ignore the financial burden which the rakyat are enduring. When the domestic economy faces challenges, the priority should be on how to restore foreign investors’ confidence towards Malaysia. Meanwhile, dialogues should be organised within the country to come up with practical policies and actions that can help revitalise the economy.

As a responsible government, Pakatan should no longer engage in populism. On the contrary, it should prove itself to be a mature and committed government. We must not arbitrarily turn around and breach contracts. While also maintain friendly relations with other countries so to rebuild foreign confidence.

Additionally, just as the domestic economy is facing challenges, the Pakatan government should take the initiative to hold dialogues with non-governmental chambers of commerce to identify problems from all aspects, and explore the possibility of reinstating the people’s financial aid scheme. This will drive consumption in the domestic market and promote economic growth.

When the world’s stock markets rose, Malaysia’s stock market tumbled without any sign of recovery. Since May last year, the FBM KLCI has fallen 14% to date, with experts describing the Malaysia’s stock market as ‘derailed.’ FTSE Russell also said that it intends to remove Malaysian bonds from the FTSE Global Government Bond Index. It is clear that foreign capitals lack confidence in the Pakatan government.

The Pakatan government has ruled the country for almost a year, but it still blames the former Barisan government for any damage resulted from its breaches of contracts with other parties. To international rating agencies, they never believe in any of these politicking, but only on reliable data that will tell the truth.

Only by putting in a little more pragmatic actions, and reducing politicking, our country will be able to wade through this difficulty.

Datuk Tan Teik Cheng
MCA Vice President

-MCA online-