Malaysian investors took out about RM142 billion, mostly parked or invested in countries like Singapore, United Arab Emirates, Qatar, Saudi Arabia, Taiwan, Hong Kong, China, Kuwait and India over the last 4 years.
According to diplomatic and corporate sources, Singapore and the Gulf States accounted for more than 60 per cent of that figure.
WOW! That's huge, man! But why?
Is it due to the poor economic environment locally or the offers by foreign banking institutions are much better that what we have here?
Or perhaps, our entrepreneurs are getting more excited over the abundant of opportunities abroad. Are there not enough projects in our own backyard? Plenty, it seems but as the saying goes, 'only those well-associated with the leaders will get it'.
Does Bank Negara keep track of the transaction taking place? How about our local banks?
Now that the Government has introduced that and this development corridoors, whay arent they staying put in the country?
Dr Mahathir used to say that many local businessmen, especially the Bumiputeras, are looking abroad to seek for projects as they seemed 'to be sidelined' by the government agencies.
Dunno what else to say. If such is the amount of capital outflow, it will adversely affect our economy in the long run.
If they dont invest abroad, why are keeping their money there?
p/s any idea who park most of their cash in Singapore?