COMMENTS FROM GROUP PRESIDENT & CEO OF MAYBANK, DATUK ABDUL FARID ALIAS ON THE MEASURES TO STRENGTHEN MALAYSIA’S ECONOMIC RESILIENCE ANNOUNCED BY THE PRIME MINISTER OF MALAYSIA
This is a good time to relook at the external environment which has been quite volatile over the recent period, and which is having a significant impact on our economy. It is a responsible thing to do i.e. to reframe the economic budget and rebase a few of the assumptions using more realistic parameters, especially considering the impact of the price of crude oil which has fallen by about 50 percent.
The announcement is also helpful for economic players such as Maybank because we too need to understand the government's reaction towards all these uncertainties. This understanding will give us greater confidence in our own assumptions and help us undertake what needs to be done in ensuring the plan is a success.
We will continue to support the plan especially areas that have immediate and significant impact on the economy, such as projects under the Development Plan as well as initiatives to support the small and medium sized industry which are the backbone of our economy. This is a positive move, in the midst of all these uncertainties.